|financial manager's report|
It is now some weeks since the EGM
when the destiny of the Society was subject to a proposal to convert to a plc with the
later likelihood of a float on the AIM. I was disappointed that the proposal was rejected
as I believed then, as I do now, that it offered an immense opportunity for the members to
continue to enjoy the unchanged business benefits of membership of the radio circuit and
also to acquire equity shares in their business and the wealth they have created and will
continue to create in the future. Furthermore, there was the potential to share the burden
of future financing with outside shareholders with members also having the possibility of
financing investment themselves receiving in return additional shares with a value. A
better deal than spending money with no return on subscriptions or through the accounts by
way of interest on bank loans.
therefore continue as it always has. In view of the excellent prospects for this year this is doubly disappointing for members. Once floated the shares might well have shown a substantial increase in value over the average allocation of ,3,500 per member.
ANOTHER BITE AT THE CHERRY?
faster moving competitors, however, it will take courage to commit to repeat the process.
Interestingly the current edition of Call Sign carries an interview with the founder
chairman, Bonnie Martyn, in which he suggests that adopting the Friendly Society structure
was a missed opportunity.
1997-8 compared to 1996-7 (which was a record year) - 16 weeks to December:
You can advertise ANYTHING you want on this page be it buy, sell or swap. While we take every care, we cannot be held responsible for any errors in printing nor the factuality of the actual ads. All ads on this page are free
Editor: Alan Fisher
|CAB FOR SALE
M Reg Auto Fairway Driver.
Green, 9000 Miles,. Available early March, £16500
N Reg Auto Fairway, Excellent condition, singled, 60000 miles.
Phone Mr Hardy (G36) on 01992 761834
VILLA FOR RENT
Florida: Luxury villa for rent, Orlando area: Phone Brian Hussey (B69) 0181 558 6394
Powered by NetXPosure
Copyright © 1998 Dial-A-Cab Ltd, All rights reserved.