Two Business Expansion Schemes under the Lockton banner have been introduced. First is Lockton Inns, where subscription is invited for up to 7.5m 25p shares at £1 per share payable in full on application. The company buys and manages pubs in the more prosperous centres of population close to the M25, M3, M4 and M5.
The promoters believe that pubs can be acquired with potential to give the company a 20% return on the capital invested. Earnings are to be retained and it is unlikely that the company will pay dividends for at least five years.
The other company is Lockton Retail Stores, where the same amount of cash is to be raised with the intention of operating retail outlets under the benefits of franchising agreements. It has already negotiated an agreement to retail leather furniture under the Leatherland franchise in selected locations throughout the UK.
