TS: Exhausted at the thought of money
Accounting software company Transaction Technology eagerly announced last week it had received a £20m investment from Lloyds TSB.
Part of the deal included the management team buying a stake in the company and plans to float within five years. But as this deal was announced to the world by the TT management team, there was one notable absentee.
Finance director Ray Douglas had taken a week off to rest at home as he was feeling ‘exhausted’ following the tough three-month discussions with the bank.
However Douglas’ recovery was probably aided by the thought of the cash windfall due to come his way – in fact it probably took him the week to add up all the noughts.