Myhome International

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Company Information
Administrators, Ernst & Young LLP were appointed 3rd September 2008. The underlying businesses that the franchisees contract with are not subject to the insolvency.

The brand Myhome was originally setup by Unilever to provide home services such as residential cleaning, dry-cleaning and carpet care. After building up the infrastructure of Myhome, Unilever decided to focus its efforts on other areas and when Myhome went up for sale, Russell O'Connell (now director of Myhome) was quick to make the purchase.

Russell had already established a cleaning business, Chores, with the aim of providing premium residential cleaning services to the UK.

Following the acquisition of Unilevers residential cleaning business (Myhome) the companies shares were admitted to trading on OFEX (now called PLUS) in January 2002, with Unilever still holding a 10% stake at that time.

After the acquisition, Russell focused his efforts on developing Myhome enabling it to launch a franchising program in October 2003.

By the end of 2004 Myhome had demonstrated the successful launch of the franchising business and has since shown significant and continual growth in the UK cleaning services market.

In late 2005 the directors decided to expand the business through a series of acquisitions, listed below:

Nicenstripy

A lawn-maintenance business based in Crawley, founded in 1996. Purchased by Myhome in two stages firstly in November 2005 and secondly in April 2006.

Surface Doctor

Myhome purchased the master franchise rights to surface doctor, a brand developed by Miracle method Inc, in February 2006.

Autosheen

A leading UK car valeting service provider, also providing a number of branded products to treat paintwork, leather, vinyl, glass and upholstery. Purchased by Myhome in February 2006.

Ovenclean

A Buckinghamshire based franchising business offering cleaning services for ovens, hobs, ranges, microwaves, barbeques and AGAs.

Franchise Alliance

An educational organisation sponsored by Natwest, which provides informational seminars for potential franchisees.

Myhome now has over 290 franchisees and on the 29th December 2006 announced its move onto the AIM market (of the London stock exchange PLC). The ticker symbol remains the same (MYH) and the company's shares are still available on PLUS.

Company website: www.myhomeplc.com
Current share price information: Yahoo Finance: myhomeplc
Further company information: Hemscott: myhomeplc

Shareworld Articles on myhomeplc:

None.

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Sources:
The London Stock Exchange
The franchise magazine

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