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Secora

• BY: Andrew Hore |
• POSTED: 14/07/2008 |
• COMMENTS: Add yours

Secora has increased its stake in fragrance company Miller Harris.

The investment company subscribed £250,000 for 7.9% of Miller Harris. Secora originally invested £350,000 in April and the latest investment takes its overall stake to 19% of the enlarged share capital.

Secora’s chief executive Richard Thompson and finance director Rupert Horner own a further 20% plus of the diluted share capital of Miller Harris.

Miller Harris has two stores in London and concessions in department stores in London, New York, Tokyo and Paris.

At the beginning of July, Secora belatedly admitted that it had lent UK fashion retailer Frost French £150,000 back in March. Richard Thompson owns 75.1% of Frostfrench. He personally guaranteed the loan and the interest charged. The loan was supposed to be repaid on 9 June but the repayment date was extended and the loan repaid on 3 July. There was a possibility that Frostfrench could have been a suitable acquisition but this path was not pursued.

At 9.25p a share, Secora is valued at £650,000.

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