City File: Stratgem

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The Independent Online
Shares in investment group Stratgem are 95p ex-dividend against a 1992 high of 112p, following recent figures showing a drop in profits from pounds 2.4m to just pounds 385,000. The company apparently banked on complying with what it thought was company law by setting an egm some time in February. The hope was that by then it would give shareholders the good news - the proposed sale of its Touchstone computer services division.

The plan foundered when, late in the day, somebody spotted the legal requirement to hold an annual meeting every calendar year - hence the rush to book New Year's Eve. You would have though the word 'annual' might have provided a strong clue to the requirements.

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