Gavin Oldham, founder of Share Radio, has today launched an offer of up to 10,884,848 shares in Share plc in order to raise finance for the station.
The Offer, which is available to personal investors and has two ‘cornerstone’ investors who have undertaken to apply for just under 55% of the shares on offer, is primarily designed to raise finance for Share Radio.
Gavin Oldham said: “90% of the funds raised by the share sale will be used to finance Share Radio, providing secure funding for the station as it builds sponsorship revenue. Furthermore, the proceeds of the sale should benefit both buyers and sellers, since one of my key purposes in establishing Share Radio is to raise significantly the public profile of the ‘Share’ brand.”
Details of the Offer are available on share.com/shareplcoffer through The Share Centre, which is the sole broker for the Offer.
Share Radio launched in Autumn 2014 on DAB in London and recent bid for Sunrise Radio’s AM frequency in capital.