Shellmeister & Co hope for winner

SERIAL financier Michael Edelson is bringing together a former stuntman, a mover in the pop industry, the one-time owner of Richmond rugby club and a pair of comedians in a £20m float of retail promotions game Everyone's A Winner.

Edelson, known as 'The Shellmeister', is using his cash shell - Chestnut - to buy the business from Felix Corporation in a deal initially worth £11.4m.

Felix's owners could get a further £24m in shares, depending on profits over the next three years. That will be paid for by listing Chestnut on the Alternative Investment Market and renaming the new firm Felix Group, with share dealing due to start on Monday.

Shareholders in Edelson's cash shell, who will join the new public company, include stand-up comedian and writer David Baddiel and former Have I Got News For You presenter Angus Deayton.

Felix's original shareholders, who will also join the new company, include Ashley Levett, the Monaco tax exile who bought former-Premiership rugby club Richmond, which eventually went into administration and merged with London Scottish.

Felix owners Alasdair Waddell, 45, former chief executive of Lumiere Pictures, and Andrew Egan, a 39-year-old ex-stuntman and sponsorship negotiator, take over as, respectively, chief executive and executive director in the new firm.

They will effectively replace Edelson, 59, and fellow Chestnut director Ian Aspinall, a 39-year-old director of the Poptones record label. Edelson and Aspinall retain their stakes.

On being asked whether he expected any antics from his new celebrity comic shareholders at forthcoming meetings, Waddell said: 'If they turn up, it will be lovely. I am very happy to have them on board.'

Everyone's A Winner promises to pay out twice the amount put in for every player, in the form of gifts or store vouchers from retailers. 'We paid out a car and a £4,000 Dixons voucher last year,' Waddell added.

Trialled last year for six months, using a premium-rate phone line, the plan is to roll out a number of stand-up booths in pubs and stores, starting later this year, as well as using text messaging and digital TV. Prize suppliers include Dixons, PC World, Currys, B&Q and Woolworths.

Felix reported revenue of £521,044 from premium-rate lines in the year to last 31 August and a pre-tax loss of £1.2m. It hopes to boost income by allowing advertising in its booths, of which Edelson said: 'These are a lot more profitable.'