Workplace Technologies flotation expected to raise pounds 20m
Monday 29 September 1997
The float will raise around pounds 20m through a placing with institutions. About half the proceeds will be new money and half will come from the holdings of existing investors.
Venture capitalist 3i holds 46 per cent and BZW Private Equity 27 per cent. Andrew Vaughan, the managing director, Steve Kent, the finance director, and Andrew Bridson, the marketing director, each own around 7 per cent and the chairman, Philip Sellers, owns 1 per cent of the company.
Holders will cash in about one-third of their holdings and 5 per cent of the enlarged equity will be allocated to a sharesave option scheme and a discretionary option scheme to be used as a staff incentive.
The company said the proceeds would finance future growth and possible acquisitions.
The group designs and installs network cabling systems to support data, telephone, video and screen-based communications for large companies.
Actress sees off speculation about her appearance in an amazing way
Powerful images of strays taken moments before being put down
The Washington Post editor helped Bob Woodward and Carl Bernstein bring down President Nixon
Children's bookseller wins The Independent's new author search
- 1 Salisbury ranked seventh-best city in the world to visit in Lonely Planet’s Best in Travel 2015
- 2 Disney announces new female-led film Moana
- 3 Banksy has not been arrested: Internet duped by fake report claiming artist's identity revealed
- 5 Russell Brand threatened with arrest after filming outside Fox News headquarters
Chicago voter tells Obama 'don't touch my girlfriend' – Obama stays super smooth
Oscar Pistorius: The brutal prison life that awaits disgraced athlete
Banksy has not been arrested: Internet duped by fake report claiming artist's identity revealed
Raphael Ravenscroft dead: 'Baker Street' musician who played the most famous saxophone solo for just £27, dies aged 60
Darren Vann: Indiana man arrested for murdering teenage prostitute confesses to six other murders - and police fear more
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
Jose Manuel Barroso warns David Cameron against making 'historic mistake' over immigration reforms
Of course, teenage girls need role models – but not like beauty vlogger Zoella
iJobs Money & Business
£18000 - £23000 per annum + Commission: SThree: The SThree group is a world le...
£18000 - £23000 per annum + Comission: SThree: The SThree group is a world lea...
£20000 - £25000 per annum + OTE £Competitive: SThree: SThree Group and have be...
£23000 per annum + pension and 22 days holiday: Ashdown Group: An established ...