Investors pile into 2ergo
SEVERAL major share trades involving Salford mobile app developer 2ergo have been declared weeks after it took on new investment and changed its management team.
Yesterday existing investor Nigel Wray spent just over £1m on 45 million shares at 2.3p taking his holding to nearly 14%.
On the same day the Helium Special Situations Fund made its first investment, buying 60 million shares. This has given it a 15% stake.
Last month the company raised £3.1m by placing more than 250 million shares at 1p each. London technology investor MXC Capital was described as a cornerstone investor and its founder, Ian Smith, has become the firm’s executive chairman.
Three directors Neale Graham, Barry Sharples and Keith Seeley, also subscribed to shares but Mr Graham is stepping down as chief executive but will continue as a director.
Mr Sharples, non-executive chairman Keith Seeley, and Peter Kenyon, who joined in February as a non-executive director, have all resigned.
2ergo’s main product is the Podifi offers service which allows customers on any mobile network to redeem local discounts and promotional offers using their phones. Once the app is downloaded users can redeem offers by tapping the phone over a specially installed ‘podifi pod’, connected to a till.
