News

Monday, 23 July 2007

Share giveaway gets under way

Peter Jones has issued 2,000 prizes of shares in the winning ITV1 Tycoon business.tycoon_logo

Those lucky enough to have won a stake in the micro-helicopter business run by Iain Morgan have now received confirmation that they can claim their shares.

Iain beat six other businesses to win the series in a live TV vote on July 23. Thousands of people entered the online competition to win shares in his business.

Iain is now looking for premises in his hometown of Portsmouth and is taking his business to the next stage and beyond. Peter will continue to offer his support and encouragement.

Peter currently owns 49% of Iain’s business but is reducing this holding to 24% and giving away the rest to competition winners.

In other words, competition winners will own a total of 25% of the business.

The share issue and administration process is being handled by The Share Centre, one of the UK’s largest independent stockbrokers.

It is anticipated that Iain’s business will join the Sharemark market in September, which will enable winners to sell their shares (or buy some more), follow the share price and get regular updates on the company’s performance.

Sharemark will conduct regular auctions, bringing buyers and sellers together in order to establish a market price for shares in the business.

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