Bulk telephone capacity reseller Nationwide Power Communications Plc is making a second shot at raising investment, this time through the proposed but still unconfirmed Enterprise Investment Scheme. The Mayfair-based company made a share offer through the now-defunct Business Expansion Scheme at the very end of last year in the dying days of the scheme (CI […]
Bulk telephone capacity reseller Nationwide Power Communications Plc is making a second shot at raising investment, this time through the proposed but still unconfirmed Enterprise Investment Scheme. The Mayfair-based company made a share offer through the now-defunct Business Expansion Scheme at the very end of last year in the dying days of the scheme (CI No 2,306), and raised UKP160,000 – well short of the UKP550,000 target. According to finance director Peter Warren, Nationwide now hopes to raise a further UKP250,000 through the current issue by the end of April, and may offer a further tranche later this year. He said, though, that he doesn’t expect to reach the target this time either. Practically speaking, I think we’re more likely to end up with UKP100,000 to UKP150,000, he said. But Nationwide is also negotiating with established telecommunications companies over a stake. We are keen on the right company having a shareholding, and we are currently in negotiation with a company who can provide the hardware and software we need, he said. The company launched its InterCom-Gold service at the end of last year. This gives customers discounts on their call charges, by reselling line capacity from British Telecommunications Plc and Mercury Communications Ltd, as well as giving various added-value services. Warren said that Nationwide has no immediate plans for further services, although he said that the company was hoping to offer similar services to mobile telephone users within four or five years.
