Kalms to make stock market return with Volvere

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The Independent Online

Sir Stanley Kalms is making a return to the UK stock market just two months after retiring as chairman of Dixons, the electrical retailer.

Sir Stanley, who is 70 later this week, will become chairman of Volvere, a shell company which is seeking a float on the Alternative Investment Market. Volvere plans to become a shareholder activist which will take stakes in underperforming or distressed companies with a view to improving shareholder returns.

Sir Stanley and his son Richard are investing about £250,000 each in the venture. Other directors are investing about £1.5m in the company which seeks to raise £10m to £20m.

Contacted at home yesterday, Sir Stanley said: "It's an interesting proposition with a good team of bright, young men. It uses some of my skills. I'm still young, active and interested in doing something useful." He said he would devote as much time as necessary to Volvere. "The rest of the time I'll go back to paddling in the pool, writing my autobiography, helping the Conservative Party and keeping an eye on Dixons," the retail veteran said.

Richard Kalms, 47, will be business development director of Volvere. He spent 13 years at Dixons, before becoming finance director at Union Pictures. Since 1999 he has been a director of DDL, a London-based technology venture capital and advisory firm.

Jonathan Lander, DDL's founder, will be Volvere's chief executive. Volvere plans to target businesses in support services, technology and retail. The investments will be small initially but Volvere is not ruling out larger deals.