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Staff buy 90% of NFC stock
2nd March 1989, Page 7
2nd March 1989
Page 7
Page 7, 2nd March 1989
— Staff buy 90% of NFC stock
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• Nearly 90% of the new variable voting rights ordinary shares issued by NFC have been snapped up by company employees and their families. The remainder (4,715,788 out of 39,909,037) have been sold on the open market this week. The net premium after expenses is about 123p per share and this will be distributed to shareholders who have not taken up their rights.
"We are delighted at the level of take up," says NFC chairman Peter Thompson. "The small size of the rump indicates that our shareholders took an active role. Our impression is that significantly more employee and family shareholders took up their rights than we had expected."