Masons, the firm behind OUT-LAW.COM, advised Totalise on the launch of its service which provided members with fully paid shares in the company which could be traded on OFEX.
Ending the offer fulfils a promise made in the company prospectus for its move from OFEX to a listing on the AIM market of the London Stock Exchange around a year ago. The company said in a statement that the ending of the offer is designed to underpin the share price by removing any possible concerns about future dilution.
Peter Gregory, CEO of Totalise, said:
"The tradable marketing shares have proved themselves to be a very effective marketing incentive, and some 185,000 customers have been brought to the company as a result. We feel that our product and service portfolio is now sufficiently established to operate without the need for this type of incentive, and this announcement should also address those with concerns regarding dilution within the company shareholding, which currently stands at 69.3 million shares."