MySkip Holdings PLC (ethe CompanyE) announced the offer to outside investors of 1,000,000 ordinary shares of 50 pence per share. The company aims to raise up to [pounds sterling]500,000 which the Directors state will be employed to increase sales and marketing of the CompanyEs current product portfolio as well as research and development to expand the product range (see also MySkip Holdings PLC).
MySkip.com is designed to help consumers and organisations to easily dispose of or find useful items that might otherwise end-up in landfill.
The share offer will be available through the web to investors, allowing MySkip members, green investors and the ordinary saver to take part in the development of MySkip.com; from as little as a [pounds sterling]20.00 investment.
The value of investments and any income from them may fall as well as rise. Investors may not get back the amount originally invested and the company may not pay dividends. Past performance is not a guide to future performance. Shares in the company are unlisted. It may therefore be difficult for investors to buy and sell them and to obtain reliable information about their value, also the cost of trading may be significant relative to the amount invested. If you are in any doubt as to the suitability of this investment, you should obtain expert advice. The full offer document will be available from 10:00 am GMT on Tuesday 10 March via www.MySkip.com The subscription list will open at 10:00 am on 10 March 2009 and will close at 4pm on 20 April 2009, unless extended by the Directors or valid subscriptions have been received in respect of all Offer Shares prior to that date and time.
Investors may apply for a minimum of 40 New Ordinary Shares and thereafter in multiples of 2 Ordinary Shares.
oOur research shows the public are concerned about the environment and are willing to consider options that could make a real difference whilst being a rewarding experience, provided there are no monetary penalties involvedo, says MySkip CEO Gary Cope a former music industry promoter in the USA and successful UK property entrepreneur. oWe believe MySkip.com offers them the best security and ease of use to give away or discover unwanted items via the Internet that may otherwise be destined for landfill.o
The Offer has not been underwritten and the Directors will not allot any shares unless applications are received for 200,000 Ordinary Shares by the closing of the subscription list. Copies of the Offer Document are also available free of charge from the offices of Millers Associates Limited 4th Floor, 36 Spital Square, London, E1 6DY during normal business hours on any week day (excluding Saturdays and public holidays) for the period of one month from the date of this Document. About MySkip.com MySkip.com is the brand name used by the business and for the website. It is an internet-based evirtual skipE where users can, for free, either rummage or dispose of useful items that might otherwise end-up in landfill.
Founded by two British entrepreneurs, MySkip.com was launched in April 2008, achieving a Guinness World Record for the company as "the most visited website on the first day of a launcho with 483,424 unique site visitors. Key Strengths The website has been designed with what the Directors consider is the latest technology which affords its users a convenient and secure communication platform. (Patent Pending) This investment in technology differentiates MySkip, enabling it to make reuse free, quick, easy and secure for people accessing the site using personal computers or mobiles. MySkipEs security system, called Intelligent Communication Identity System (ICIS), was designed as a secure platform from which members can give and take items in privacy. MySkip also created a first-of-its-kind mobile phone facility that allows users to upload to and acquire items from the website in a matter of seconds, as well as receive alerts as soon as sought-after items are posted online. Comments on MySkip oMySkip.com is absolute genius u I love the creativity of ito, Robert Senior u CEO Saatchi and Saatchi.
oOur clients often ask what to do with their old B&Os. Now we can recommend MySkip.como, Douglas Bell, Head of Products, Bang and Olufsen.
Venture Alliance Corporate Finance Limited (eVACFE), which is authorised and regulated by the FSA, is the CompanyEs corporate adviser for the purposes of the Offer.
This communication has been approved by Venture Alliance Corporate Finance Limited for the purposes Section 21 of the Financial Services and Markets Act 2000. Venture Alliance Corporate Finance Limited, registered office 53 Leatherhead Road Ashtead Surrey KT21 2TP, is authorised and regulated by the Financial Services Authority. Notes Follow u see below
OFFER STATISTICS
Offer Price per Offer Share
50p
Capitalisation value at the Offer Price (assuming full subscription)
[pounds sterling]5 million
Number of Ordinary Shares in issue following the Offer
10,000,000
Number of Ordinary Shares being offered
1,000,000
Percentage of enlarged issued Ordinary Share capital being offered
10 per cent
Estimated gross proceeds of the Offer
[pounds sterling]500,000
Estimated net proceeds of the Offer (after expenses)
[pounds sterling]450,000
Minimum Amount
[pounds sterling]100,000
DIRECTORS, SECRETARY AND ADVISERS
Directors (CVs Below) G. Cope M. Al-Karooni
Company Secretary and Registered Office
G. P. May
4th Floor
36 Spital Square
London E1 6DY
Corporate Adviser
Venture Alliance Corporate Finance Limited
53 Leatherhead Road
Ashtead
Surrey KT21 2TP
Reporting Accountants
H W Fisher & Company
Acre House11/15 William RoadLondon NW1 3ER
Solicitors to the Company
Paul Roberts Solicitors
60-61 Mark Lane
London EC3R 7ND
Registrars and
Receiving Agents
Millers Associates Limited
4th Floor, 36 Spital Square
London, E1 6DY
DETAILS OF THE OFFER Up to 1,000,000 New Ordinary Shares are being offered for sale by the Company at the Offer Price to raise [pounds sterling]500,000 before expenses (approximately [pounds sterling]450,000 after expenses).
Investors may apply for a minimum of 40 New Ordinary Shares and thereafter in multiples of 2 Ordinary Shares. Applications must be made on the Application Form. Details of the procedure to apply for New Ordinary Shares are set out in Part VI of the Offer Document. The Directors reserve the right to reject in whole or in part or to scale down any application at their sole discretion.
The list of subscribers will open at 10.00am on 10 March 2009 and may be closed at any time thereafter, but in any event no later than 4pm on 20 April 2009, unless the Offer is extended by the Directors. The Directors intend to accept applications prior to the closing date of 20 April 2009. The Offer Price is payable in full on application. Share certificates, where relevant, for successful applicants will be sent, at the risk of the addressee, to those persons entitled, by post within 14 days of acceptance.
Details of the DirectorsE interests in the share capital of the Company following the Offer are set out in paragraph 4 of Part IV of the Offer Document.
The Directors intend to use the funds raised under this Offer in order to increase sales and marketing of the CompanyEs current product portfolio as well as research and development to expand the product range.
The Directors hope to obtain a listing on PLUS in the near future. However, acceptance of the CompanyEs application for admission to PLUS, and continued admission to trading on PLUS, is entirely at the discretion of PLUS Markets plc, therefore cannot be guaranteed. Future fundraising It is likely that the Company will need to raise further funds in the future. There is no guarantee that the then prevailing market conditions will allow for such a fundraising or that new investors will be prepared to subscribe for Ordinary Shares at the same price as the Offer Price, or higher. Any further issue of Ordinary Shares by the Company may materially dilute Shareholders. DIRECTORS Gary Cope ("GC") Age 46 Chief Executive Officer GC qualified as a graphic / lithographic artist before moving into the Music Industry in the US, where he marketed and promoted some of the worlds music greats such as Mariah Carey & Stevie Wonder. GC then invested in a portfolio of properties as well as investing within the Legal & General Group by acquiring a chain of Estate Agents, where GC achieved L&G's most profitable office - within his first full trading year,1995. GC was asked by the Government to consult on the 'White Paper' for the homes bill reforms and then proceeded to do numerous radio and TV appearances. He also had a regular column within a leading property publication. GC sold his businesses in 2004. GC has also had various successes within the interior design industry and was approached to judge the 2006 Evening Standard Property Awards. His work has been showcased throughout channel 4es series - eOther PeopleEs Houses.e GC is CEO and responsible for Marketing, Company Structure and Strategic Planning. May Al-Karooni ("MA") Age 28 MA obtained a BA (Hons) Accountancy and Finance degree in 2001 and trained as an accountant before moving into the financial services industry, working for Friends Provident PLC (FTSE 250) as a Broker Consultant for 5 years. There MA was awarded 'Broker Consultant of the YearE for two consecutive years. MA progressed into the investment arena where she raised finance for Venture Capital Trusts, Hedge Funds and structured products. MA worked for Investment Bank, Close Brothers Group, (the UK's largest Independent Investment Bank) as Regional Development Manager, where she raised finance for Equities, International Property funds and Enterprise Schemes achieving fundraising in excess of [pounds sterling]80 million. Close Brothers Investments became (for the first time) the UKEs largest fundraiser of VCTs in 2006. MA is Director and responsible for Marketing, Operations and International Development.
Keywords: MySkip Holdings PLC, Business, Patents Actions.
This article was prepared by Biotech Week editors from staff and other reports. Copyright 2009, Biotech Week via NewsRx.com.
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