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Economy

Myhome International appoints Gossage

Friday, 01 February 2008

The board of Myhome, a provider of franchised service operations, has appointed Neal Gossage, FCA, as finance director, effective as of Monday 4 February 2008.

Gossage, 52, qualified at PricewaterhouseCoopers and has worked at a number of listed and privately owned companies, in the role of finance director, most recently at AIM-listed Education Development International plc.

Myhome’s (LSE:MYH) franchise partners provide premium house cleaning services to the residential market, including residential cleaning, dry-cleaning and carpet care.

Originally established by Unilever as Chores Group plc, Myhome was acquired in October 2001 and its shares admitted to OFEX in January 2002. Unilever retain a significant shareholding in the company. Since then, the company has been completely transformed into one of the UK's leading home services franchisors with franchise partners across the UK.

Executive chairman Russell O’Connell said that Gossage’s experience of growth companies and his track record as FD of both AIM and fully listed companies would significantly strengthen the company’s board.

Gossage will take over from Martin Ward, who resigned as finance director in December. Ward was at the firm over the last year period in which Myhome’s shares were admitted to AIM and the company has completed a number of significant acquisitions.

Shares in the firm climbed steadily since 2005, to around 106.5 pence a share in June 2007. They went into a sharp decline, however, shortly after the firm raised £3.57 million through a placement in June in order to strengthen its balance sheet. Earlier this week, shares in Myhome reached a record low of 35 pence a share.

The company’s (LSE:MYH) preliminary final results for the financial year to 30 September 2007 will be released on Monday 4 February.

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