Information extracted from the Annual Returns of Home of Choice Group LimitedShareholder 12-Nov-05 12-Nov-06 % of total ate with a negative balance sheet and no supportive owner with deep pockets?
I have no answer and can only assume that HoC submitted its Retail Mediation Activities Return to the FSA on time, which would have clearly shown its financial position. Nevertheless, a white knight rode to the rescue of HoC in late September with an investment by Friends Provident. The amount of money pumped in was not disclosed.
The directors of HoC group are the same as for HoC Ltd. The table below shows the shareholders in the group as at November 12 2006 and their shareholdings a year previously.
Friends Provident clearly shows as a new shareholder with 9.9% of the issued shares. The main directors have increased their number of shares, but ended up with a lower percentage ownership because of the effect of more than 1.4m new shares being issued.
I have it on good authority that Kevin Ronaldson, who has disposed of his entire shareholding, was a well-known figure within, successively, Allied Dunbar, Zurich Adviser Network and HoC, but has now moved on to Intrinsic. Still, all in the same family.