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JSJS Designs
- BY: Andrew Hore |
- POSTED: 27/11/2008 |
JSJS Designs got off to a strong start when it debuted on Aim.
The company was introduced to Aim on 27 November at 2p a share. The shares ended the first day’s trading at 2.375p, which values JSJS at £4.75m.
JSJS Designs develops and manufacture home automation systems that enable remote operation of household appliances. The retro-fit market is the main focus of the business. JSJS will look to target the residential home care market.
The products are being sold under JSJS’s distributor’s HomeEasy brand via B&Q.
The directors own 52% of JSJS and this could increase if the deferred share consideration for the operating business is issued. The deferred consideration of 50m shares is only payable if the main subsidiary’s net profits are at least £500,000 in any one year between 2009 and 2013 and the market price of the shares has been at least 3p for one whole month.
Chief executive John Shermer is a former director of SRS Technology, which used to be quoted on Aim but it ran out of cash and the operating business was sold to a competitor.
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