Under-utilised vehicle ownership specialist Helphire is looking to raise £50m to “strengthen its balance sheet.”
The firm believes it can shift said amount in new ordinary shares at 33p a piece to existing institutional shareholders, subject to “certain conditions including agreement being reached on satisfactory banking terms, publication of a prospectus and shareholder approval.”
Helphire’s half-year figures are due out on the 27th.
Meanwhile subsidiary fleet repair and claims management firm Total Accident Management has appointed Penny Stoolman as its first ever managing director.
Stoolman’s appointment comes after two years as Total Accident’s sales and marketing director. In that time its accident management fleet has increased to over 110,000 vehicles.
Commenting on her appointment Stoolman expounded, “As we continue to grow I intend to keep true to our strategy of bringing new levels of excellence and specialism back to a commodotised market and continue to invest ahead of our growth curve as we increase our customer base and activity.”
Total Accident’s business director, Stefan Smyth, who set up the business in 2002, is leaving the company in March 2009 to take his family to South Africa.
While we’re rounding up old Helphire stories: earlier this month the firm announced the launch of the UK’s first Shariah-compliant credit hire service. Yes really!
Speaking of which, Stevie Wonder has apparently converted to Islam and re-released an old favourite with specially adapted lyrics under the title My Shariah Law.
I’ll stop now, shall I?