From window locks to Net music star

Reversal of fortune

A down at heel maker of window locks has become an Internet star performer overnight. Yesterday, shares in Midlands-based Arthur Shaw jumped 113 per cent, when it was revealed that music publishing magnate Bryan Morrison was to reverse a new Internet business into the company. But before you get too excited, Arthur Shaw shares are not exactly liquid. And that 113 per cent jump translates into 4p per share, up from 1.875p the previous day. Morrison is getting a stock market listing on the cheap, in a technique perfected by Luke Johnson, the thirty-something entrepreneur who reversed Pizza Express into sleepy computer dealer Star Computers a few years back. Morrison won't say exactly what he is up to -- but it appears that the business has something to do with music downloads, judging from comments reported in the Times. There is "significant potential for the delivery via Internet of many of the different facets that make up the world music business". According to The Times, Morrison is worth £30 million, and with a publishing roster that includes songs from Pink Floyd, Elton John and George Michael. Morrison will own 30 per cent of Arthur Shaw and takes a seat on the board, where he joins a founder of Capital Radio, chairman Alan Bartlett. Currently, Arthur Shaw is capitalised at £10.5 million. It can only be a matter of time before the sale or closure of the windows locks business and a change of company name. ®

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