London, UK (PRWEB) June 24, 2009
UK based The King of Shaves Company Ltd, the current CBI Real Business 'Company of the Year', is to issue the world's first 'Shaving Bond' aiming to raise up to £5m to spend on marketing & brand awareness, in its bid to build on the success of its Azor system razor.
King of Shaves, headed by Ernst & Young Entrepreneur of the Year 2009 London & SE Region winner, Will King, is offering UK shavers aged 18 and over the opportunity to "shave and save better" by issuing up to five thousand £1,000 bonds, with a 6% per annum interest coupon - 12 times the current Bank of England base rate. The bond issue has been developed and approved by BDO Stoy Hayward, a leading UK accountancy firm regulated by the FSA (Financial Services Authority).
This is the first time a private company has turned to its customers in this innovative way, offering them a way to save money, and shave better, and according to King, involve themselves proactively in the continuing successful development of the King of Shaves brand, and its award winning, highly acclaimed (Which? Magazine* 'Best Buy' & 'Exceptional Value') system razor, the Azor.
King has eschewed traditional ways of raising money via private equity or a listing, whilst at the same time rewarding his customers (approximately one million men use the company's products daily) with a substantial interest rate income over the next 3 years. Bond subscribers will also receive exclusive, unique product throughout the duration of the bond, and a specially commissioned, mirror-finish 'Shaving Bond' certificate, to proudly display in their bathroom.
Will King said: "I'd ideally love 5,000 men or women to invest up to £1,000 each, equally spread across the UK and to become involved in helping my team and I make King of Shaves the UK's leading challenger shaving brand. In my eyes, this initiative is all about getting King of Shaves closer to our consumer, and motivating them to spread awareness of the King of Shaves brand to friends, family and others. These shaving bond holders will be fantastic brand advocates, spreading the word of mouth, and mouse, world-wide"
The shaving bonds can only be applied for online at http://www.ShavingBond.com from Midnight, June 22nd 2009, where full terms and conditions of the bond issue are available.
King added "It's time to shave, and save, better with King of Shaves - my word is my shaving bond".
Notes to editors:
Only adults aged 18 or over and who are resident in the UK can apply for up to five, £1,000 shaving bonds (£5,000 per adult applicant). The bonds will pay an interest coupon of 6% per annum over a period of three years, with the principal investment returned on the 3rd anniversary of issue. The bonds are non-convertible and non-transferable. The Shaving Bond No. 1 issue has been approved by BDO Stoy Hayward, an accountancy firm regulated in the UK by the FSA, the Financial Services Authority. Full terms & conditions of the bond issue are available at http://www.ShavingBond.com.
(*Which? Magazine, April 2009).
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