Weather Lottery recruits Lib Dem trade spokesman

LORD Razzall, the Liberal Democrat spokesman on Trade and Industry, has been appointed chairman of Weather Lottery.

The qualified solicitor, who founded Argonaut Associates, which provides management, financial and corporate advisory services to entrepreneurs and corporate clients, has chaired several quoted companies and replaces Andy Moore, who will remain as a non-executive director.

Robert White, a telecommunications entrepreneur, has been appointed an executive director of the company.

Meanwhile, Neil McGowan and Mike Mills have stepped down as directors of the Doncaster-based company, which helps clubs, charities and societies raise funds for projects and developments.

Lord Razzall said: “I am delighted to become the chairman of the Weather Lottery. I believe that together with Robert, Andy and Keith (Milhench, chief executive), we can build on the foundations already laid and develop The Weather Lottery into a successful company.”
 
Meanwhile, a number of shareholders have bought and sold shares in the business.

John Botros has purchased 13m  ordinary shares in the company, at a price of 0.13p per share, and now holds 28.6% of the company’s  share capital.
 
Mr Moore has sold 5.53m shares, taking his stake to 16.11%.
 
Mr Milhench has sold 7.5m ordinary shares and no longer holds any ordinary shares in the company.

Earlier this week, for the year to July 31, revenues dropped to £1.34m from £1.44m the previous year. Losses more than doubled from £21,000 to £48,000.