1981 Share capital
1981 Share capital
Total in issue 30 394 986 @ 10p = £3 039 498.60. A form of allotments shows 9 930 000 went to Tom Farmer and his wife, although 12 180 000 were given in total in exchange for the business of TFL. Not clear who the other 2 250 000 went to. (Accounts for 1981 show Tom Farmer holding 9 330 962 – 30,7%.) Above amount includes 15 000 000 issued 13 Feb 1981; of these, 14 million went to Ridgefield Nominees Ltd (46% of the aggregate shares in issue); another 1 million to WA Stenson, the new chairman and Tom Farmer’s business partner since 1968. (The 1981 accounts show Stenson holding 1 000 761.) James Brown appointed as executive (property) director on 13 February 1981; has experience in property management; held 656 500 shares as per 1981 accounts. (Thus directors and Ridgefield Nominees held more than 70% of the total shares in issue.) Farmer had granted an option to Stenson and Landau for 2 million and 1 million shares respectively.
On 10 August 1981 another 5 million shares were issued. No details of allotments on file.
Apart from Farmer, the company had ‘not been advised of, and is not aware of, any shareholder interested in 5% or more of the share capital of the company’. Not clear whether Ridgefield Nominees had sold its shares or whether it was excluded from this statement.
_Company status
_Re-registered as a public company (Crest International Securities plc) August 1981 traded on the Unlisted Securities Market (USM), which was a market that allowed less regulation than a full LSE listing.
Chairman’s Statement
Profit before tax and extraordinary items = £606 898; investment properties held amount to almost £5,5 million. Various developments underway, some partially let.
_Charitable and Political Contributions
_No charitable or political contributions were made by the company or any of its subsidiaries during the period under review. (This has been reported throughout the available accounts since 1972.)
Subsidiaries
City & Cranbrook Securities Ltd (100%) (dormant)
Mirivale (TC Investments) Ltd (100%) (dormant)
London & Foreign Investment Trust Ltd (100%) (dormant)
Crest International Group Ltd (100%) (dormant)
Crest International Properties Ltd (was Tom Farmer Ltd)
Crest International Developments Ltd (was Parben Co Ltd)
Arrowspeed Investments Ltd
Directors
Walter Alec Stenson, chairman
Thomas Farmer
James Brown, appointed 13 February 1981
Ervin Landau
Brian Simmons
Other directorships
Tom Farmer
Walter Alec Stenson
James Brown
Ervin Landau
Brian Simmons
_Address
_36 Dover Street, London W1X 3RB
Auditors
Arthur Andersen & Co
Solicitors
Halliwell Landau
Bankers
Midland Bank Ltd
Registrars and transfer office
Midland Bank Ltd