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Transport Services Winding-up

5th August 1949, Page 37
5th August 1949
Page 37
Page 37, 5th August 1949 — Transport Services Winding-up
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AN extraordinary meeting of Transport Services, Ltd., to he held on September 8. will consider the voluntary winding-up of the company, which was taken over by the British Transport Commission in January, 1948. Last year, £2,000,000 was paid in compensation, and the company has recently received another €775,000 on account

of the total purchase. price.

After repaying the El preference shares at the' rate of 23s. per share, it is expected that the ordinary shareholders will obtain between 35s. 6d. and 36s. for each 5s. ordinary share, .

Ordinary shareholders are to be asked at the meetingin September to authorize a maximum ex-gratia payment of E39,075 to the directors for loss of office.