A Freeserve wanna be is offering free stock to its subscribers:
internetnews.com
UK Internet Group Woos Customers with Web Windfall July 28, 1999
Business News Archives
Fledgling Internet group Totalise Plc threw a challenge to Britain biggest Internet group Freeserve on Wednesday, saying it would woo customers onto its Web services with free shares in the company.
Taking a lead from U.S. peers, which have used stock giveaways to publicise products and win new users, Totalise said it would be the first UK Internet group to offer free, tradeable shares when customers used its services for three months.
To ensure that its message gets heard in the City of London, the Internet service provider said it would publicly announce its listing on London's junior OFEX market with dozens of bikini-clad women and bronzed ''surfers.''
''We want our users to share fully in our success,'' said Peter Gregory, the founder and principal investor who has put up around 1.0 million pounds ($1.6 million) to help the company develop a range of Internet services over the coming months.
''We will be the first independent Internet service provider with free, tradeable shares for subscribers and the value of those shareholdings will be clear from day one,'' he added.
In the wake of a sparkling market debut on Monday by Freeserve, which saw its shares surge by almost 40 percent to value it at over 2.0 billion pounds, Totalise said it was issuing a direct challenge to establised Internet companies that can demand a minimum of 250 pounds for a stake in the company.
The group said around 30 percent of its stock would start trade on OFEX on Wednesday, with an indicative price per share of 20 pence, valuing the group at around 1.4 million pounds. However, customers can sign up for a first issue of up to 250 free shares if they register at www.totalise.net., which will give users a majority stake in the ordinary share capital once registrations reach 50,000.
They can earn more shares by using the group for Internet access, introducing new clients and by using new services which are being planned such as an online department store, an auction house, online betting and access to financial services.
Based in Yorkshire, eastern England, Totalise said initial services would include free technical support, web-based electronic mail and a high speed look-up engine which cuts search times by automatically finding official websites. |
