Hi-Grade offers UK journos share options

PC manufacturer Hi-Grade has offered a number of UK IT journalists the chance to buy into a private float of the company.

A form from the finance director of Hi-Grade, Mr Pouliss, offered you the chance to buy up to 1,000 shares in a private Cyprus flotation. Shares will be valued at CY£1.00 (or £1.10 sterling). A cheque for the required amount "should either be posted or delivered by hand to the finance director". Oblivious to the ethical considerations, we decided to give Mr Pouliss a call to find out more.

He seemed a little confused and suggested we meet in person. However, the float in Cyprus is down to "the background of the main shareholders in the company" and apparently there are a few tax benefits as well. It will also be a quicker float than on a UK stock market.

No, there is no real reason why Hi-Grade would want a fast float and this is just the first step - a bigger float is planned in the UK at a later date. Mr Pouliss wasn't in a chatty mood so we let him go.

Offering IT journos the chance to buy into an IT company may be seen by many as slightly unethical (only if they accept - Ed). But we're having none of it, although to get good reviews we would need a discounted price.

We would also like to point Hi-Grade to our PR Tariff where it can get better value for money coverage. ®