Listed on the AIM market on Friday the 29th of December.







MARKET CAP 31 Million, Opened up on Aim at 68p mid price. Large investors include Unilever and Nigel Wray consortium. 4 million will be used by Myhome as working capital in order to further build its franchise. The company is CEOs O'Connell's creation. He merged his own residential cleaning business with a carefully researched and computerised rival developed by Unilever. The detergent behemoth lost interest after spending, in small company terms, a fortune developing an IT franchising operation. It still has shares in Myhome, issued when it sold out. There is no doubt that Unilever's sophisticated computerised system has provided Myhome with invaluable infrastructure.
It has allowed it to expand its home-cleaning operations and buy other franchise businesses. Besides residential cleaning, the group undertakes grass cutting, oven and car cleaning, and kitchen and bathroom refurbishment. It has about 300 franchisees; in three years it expects the number to top 700.
Myhome International PLC
29 December 2006
29 December 2006
MYHOME INTERNATIONAL PLC
Admission to AIM
Myhome International Plc ('Myhome' or the 'Company') today announces that its
ordinary shares have been admitted to trading on the AIM market of London Stock
Exchange plc ('AIM') and that unconditional dealings in its ordinary shares will
commence today ('Admission'). The ticker symbol remains unchanged and is 'MYH'.
The Company's shares will continue to be capable of being traded on PLUS.
Highlights
Significant presence in the home services franchise sector with over
290 franchisees;
Board with experience of operating franchise companies as well as
expertise in the retail and corporate environments;
Brands provide a variety of premium local services, supported by a
central infrastructure providing sales and administrative support;
Targeting further acquisitions including business to business as well
as business to consumer brands; and
4 million investment by Nigel Wray, Stephen Hemsley and certain other
investors (the 'Investors') completed today.
On 15 November 2006 the Company announced that the Investors had agreed to
subscribe 4 million for 10,000,000 new ordinary shares of 5p each in the
Company (the 'Subscription Shares') at a price of 40p per Subscription Share
conditional, inter alia, upon Admission becoming effective. In addition, the
Investors would be granted warrants (the 'Warrants') to subscribe for up to
7,500,000 new ordinary shares at 40p per share. All of the conditions under this
conditional investment agreement have now been satisfied and the Subscription
Shares and Warrants have today been issued to the Investors.
Further to the Company's second announcement on 11 December 2006, 500,000 new
ordinary shares have been issued to Robert Boot and 1,114,584 new ordinary
shares have been issued to Russell O'Connell pursuant to the exercise of options
and warrants respectively.
The AIM admission document is available at the offices of Myhome, 119 Richmond
Road, Kingston Upon Thames, Surrey, KT2 5BX or from the Company's nominated
adviser, Noble & Company, 5th Floor, 120 Old Broad Street, London, EC2N 1AR for
a period of one month after Admission.
Russell O'Connell, Executive Chairman, made the following comments: 'Myhome has
had an extremely successful period and we look forward to pursuing our buy and
build brand expansion strategy. We believe this move to AIM will allow us to
take advantage of the increased profile a listing on London's junior market
affords. The Group will benefit from better access to capital which will enable
Myhome to increase its rate of growth.'
---ENDS---
Company website..
http://www.myhomeplc.com/home_fs.htm
Old Historic thread with plenty of usefull contributions and information....
http://www.moneyam.com/InvestorsRoom/posts.php?tid=10149#lastread
Latest analyst forecasts ...
Our highly conservative estimates put September 2007 earnings at 6.8p rising to 13.5p in 2008. At 68.5p, Myhome trades on a 2007 earnings multiple of 10.4 falling 5.3 in 2008. That does not discount the explosive growth we have learnt to expect from the group, including the newly incorporated revenue of Ovenclean and Autosheen plus future earnings enhancing acquisitions.
Our forecasts and recommendation are suspended pending the publication of a detailed note next month.
DYOR.