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Jery's World May I congratulate everyone involved with Dial-a-Cab on the magnificent achievement of entering our fiftieth year of trading and can I also wish you all the happiest of New Years. Jery Craig |
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Jery's World May I congratulate everyone involved with Dial-a-Cab on the magnificent achievement of entering our fiftieth year of trading and can I also wish you all the happiest of New Years. Jery Craig |
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| Following last
month's Call Sign article on a possible bid for LTI parent company
Manganese Bronze Holdings and our hint that this could even signify a
Management buy out, we now hear that MBH Chairman, Jamie Borwick, resigned
on Friday 17 January when it was revealed that the 47 year old was the
person behind last month's "tentative approach." Senior non-executive director Tim Melville-Ross, is taking over the Chairman's position until a replacement is brought in. Mr Melville-Ross said: "We found ourselves in the boardroom with one point of view being held by the Chairman and the other by the rest of the Board. If Jamie has it in mind to put an offer together, then our view is that he should do that from outside the company." A statement issued from LTI said "...Jamie has made a significant contribution to the Group over many years for which we are very grateful. We all wish him well for the future." Contrary to the views of some, Jamie Borwick is a 100% taxi |
JAMIE BORWICK
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| man. He believes in the vehicle
and goes around town in his own cab. When he tells meetings around the
world that the London-made vehicle is the finest taxi in existence, he
says so because he believes it, in addition to running the company. Mr Borwick already owns a direct stake in MBH of 3.3% and also heads a group (Rutland Investments) which claims a 37% shareholding. |
Jamie Borwick has tried once
before to lead an MBO, that was in April 1999 when an offer of between
250p and 275p per share was put in. The current market share price is now
one quarter of those figures and the company hit a low last year of 50p
when economic uncertainty was put as the reason for lower than expected
cab sales. Interesting times indeed... Alan Fisher |
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