Call our Sales Team on 0208 912 2120

ity back Fodens' gamble

29th August 1975
Page 4
Page 4, 29th August 1975 — ity back Fodens' gamble
Noticed an error?
If you've noticed an error in this article please click here to report it so we can fix it.

Which of the following most accurately describes the problem?

)ENS, the troubled truck :ers who were saved from ;averment "takeover" by City, returned to the Stock hange last week.

hares were back on the ket on Wednesday and e quoted at lip at the t, closing at Up. This is Tared with 13p when res were suspended back in uary because of cash culties.

y Friday the shares had pad to a high of 15p and Tuesday they had risen an?r two pence to 17p.

learly the City is backing gamble to bail out Fodens a Om cash injection and support the company's Om overdraft. They stepped in when the Government made it clear that if they mounted a rescue operation they would demand a large slice of the company in return.

The Stock Exchange's confidence came after Foden's annual general meeting last week at which it was announced that there would be a reorganisation of the management structure in line with the City's wishes.

A new financial director is to be appointed and there will be a new non-executive chairman along with another City appointment to the Board.


comments powered by Disqus