Ideal Hardware Plc, the Tolworth, Surrey computer storage systems distributor, yesterday priced its shares at 225 pence, valuing the company at ?47.5m, for its London placing via Charterhouse Tilney Securities Ltd (CI No 2447). It is placing 35.3% of its enlarged share capital but will raise only ?2.5m of new money. Most of the shares come from major investor Konrad Goess-Saurau, a non-executive director, who has decided to pull out. Managing director James Wickes says Ideal needs the money for new premises, more computer systems and another 30 sales people. It is only then he says that Ideal will be able to increase its share of the storage market – it currently has around 2,500 customers of a potential UK customer base that is exceeds 8,000. Under a contract that terminates on April 30 1996, directors, who have a 52% share in the Ideal have elected not to sell any of their shares. Wickes has no intention of diversifying: data storage remains a large untapped market and will always remain the core of our business.
