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Shareholders to decide

28th June 1968, Page 33
28th June 1968
Page 33
Page 33, 28th June 1968 — Shareholders to decide
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Which of the following most accurately describes the problem?

• Mr. J. H. Tresfon, chairman of Boulton and Paul Ltd., has addressed a letter to the holders of Boulton and Paul ordinary and "A" non-voting ordinary shares concerning BETs offer to acquire all such remaining shares.

Although he forecasts increased pre-tax profits for the first six months of this year compared to those for the same period in the last financial year, he states: "In all the circumstances your directors are of the opinion that it is a matter for each shareholder to decide whether or not to accept the offer."

• Nottingham transport committee is to seek permission to increase fares from between Id and 4.d. If approved by the Traffic Commissioners, this will bring in an extra £300,000. The increases range from 1d on a mile-long journey, to 3d on a journey of three miles. The biggest jump--of 4d— is for journeys of from 5+ to 7 miles. The city treasurer, Mr. Gerald Daniel. said the increases would not meet the current deficit, let alone

clear the loss on 1967-68. but the transport manager and he both felt this was as far as they could go at present.