WORLDCHOICE Enterprises has heralded its
share scheme such a success after raising nearly £2 million that it may not
need to put shares on sale again.
The
trading arm of the agents’ consortium now has about 800 shareholders and is on
course to buy its 16th shop.
The
second share offering attracted 50 new shareholders – £150,000 worth of new
investment – and raised about £800,000.
This
is on top of the £1.2 million raised by the original shares sold.
Chairman
Colin Heal said a warning had been issued with the latest offering, which
closed on August 12, to alert staff and members there may not be a further
opportunity to buy shares.
“Originally
we planned to offer shares every year for five years but it depends on the
overall cash flow situation and whether we need to.
“It
is by no means guaranteed as we may not need any more investors if the cash
flow starts to come in with the development of the new shops.”
He
added: “We are really pleased with the shares we’ve sold, particularly in a
tough economic climate.”
Worldchoice Enterprises is still on course to acquire
150 shops in five years and further developments include the launch of an
associate programme to help would-be agents start up shops, increase revenue
flows and boost membership levels.