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Barclays takes Myhome stake

Companies: MYH ��
12/07/2007

Residential service franchiser Myhome International says divisions of banking giant Barclays have emerged with a 4.99 per cent stake.

Barclays Stockbrokers and Gerrard Investment Managers between them hold the stake in AIM-quoted Myhome, which recently lifted interim profits nearly 170 per cent to �748,000. Last month, acquisitive Myhome, steered by Russell O’Connell, bought the Stainbusters network for up to �415,000, having raised �3.57 million at 85p to buy companies in the domestic services market.

Back in December, serial investors Nigel Wray and Stephen Hemsley put �4 million of new money into Kingston-Upon-Thames-based Myhome at 40p, with warrants for another �3 million at the same price. Today, the shares, highlighted by Growth Company Investor last year at 37.25p, are 0.5p up at 99p, valuing the company at �50 million.

Hold on.

Robert Tyerman

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