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Otium Ventures is a shell that was previously known as Hertford International Group, which was a pre-paid debit cards marketing company but it could not make the business work. It acquired cheque cashing business Cheque Exchange Ltd from Provident Financial for what was supposed to be £3m in January 2009. However, Hertford could not afford to pay the deferred consideration and Provident took back control of the business on 1 November 2009. In 2010, a Company Voluntary Arrangement paid Hertford's unsecured creditors 2p in the pound. Hertford raised £2m (£1.67m net) at 20p a share when it floated on Aim on 24 December 2007. That valued the company at £8.53m. Otium is apparently Latin for leisure or ease.
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