The Mayor of Woodstock, Ian Lenagan, is set to become a multi-millionaire next week when his computer software company floats on the London Stock Exchange.

Mr Lenagan, who has an interest in three pubs in the town and lives at The Black Prince, Manor Road, co-founded UK software solutions company TeleWork, which is expected to be valued at more than 200m.

Tuesday's flotation should make multi-millionaires of Mr Lenagan, who owns 54 per cent of the Milton Keynes-based firm, and his business partner, Geoff Howarth, who owns 27 per cent.

The firm has two businesses - TeleWare produces software products for computer control of telephony and messaging and Workplace makes software products used to organise rotas.