1979 Share capital

1979                 Share capital

Note:_until the relaxation of exchange control regulations in England in 1979, a non-resident of the UK could not control more than 10% of the shares of a UK company.

_Directors held 14 199 shares at this stage (Simmons also held 10 000 preferred ordinary shares)

‘LC Securities (1970) Ltd of Mr B Simmons is a director and shareholder is interested in 242 138 (previous year 194 413) ordinary shares…’

‘Mr B Glazer and his family trusts hold a total of 362 250 ordinary shares of 10p each (approximately 15,5% of the issued ordinary share capital) of the company and 2 161 275 preferred ordinary shares of 5p each (approximately 46,33% of the issued preferred ordinary share capital).’ (effectively 30,9%) (ref Appendix A)

Save as above, the company was ‘not aware of any shareholder beneficially interested in 5% or more of the share capital of the company’.

Chairman’s Statement

see scanned document

1979 (cont)      Directors

Ervin Landau, chairman

Brian Simmons

Alexander Lionel Silver, secretary

Subsidiaries (ref Appendix F)

City & Cranbrook Securities Ltd (100%) (not discussed in notes; presume dormant)

Mirivale (TC Investments) Ltd (100%) (industrial space in Bristol not discussed; presume disposed of) (also see Crest Int. Holland below)

Crest International Holland BV (‘… it has proved possible to dispose of the now dormant Dutch subsidiary’ – see scan of chairman’s statement above)

London & Foreign Investment Trust Ltd (100%) (quoted stock exchange investments in the 1978 accounts valued at £36 308 (previous year £177 758); unquoted, zero (£30 500); provision for diminution in value was zero; net value of investments was therefore down to £36 308)

Lonfor Securities Ltd (held 100% by London & Foreign)

Crest International Group Ltd (100%) (‘was Lonfor Securities Ltd’; presume still held through London & Foreign)

Auditors

Landau Morley

Solicitors

Halliwell, Landau & Co

Bankers

Midland Bank Ltd

Bank Hapoalim BM(note: ‘Israel’s leading financial group and largest bank with a global presence in key markets; also note: the chairman of Ashbourne Investments Ltd after the takeover by Glazer through Incentive Investments Ltd was Lord Mancroft, a director of Bank Leumi, which had been founded in 1902 as the ‘Anglo Palestine Company’ by Dr Theodore Herzl, the ‘founder of political Zionism who prophesied the birth of the future State of Israel’.

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