Eagle Trust plans sale
Sunday 08 May 1994
'We could do a share placing with institutions, or we might plump for a general share offer to the public,' said Brian Smith, right-hand man to Eagle's chairman, David James.
An outright flotation of Samuelson could raise as much as pounds 50m, which would in effect wipe out Eagle's debts. 'We are talking to a leading house to get some views from them about the proposition and the practicality of it,' said Mr Smith.
Samuelson, which provided camera equipment, lighting and crews for the film Tom and Viv, the television series Casualty and the recent Winter Olympics, has an annual turnover of around pounds 70m.
It makes profits described as 'satisfactory' by Mr Smith, and the accounts for last year are due to be published in a couple of weeks.
The pounds 39m acquisition of Samuelson by Eagle in 1987 helped to trigger the parent company's current plight, because the accompanying share issue was hit by the stock market crash in October that year.
Mr James was in the High Court last week as Eagle began a pounds 25m damages claim against its former adviser, Swiss Bank Corporation.
He has told shareholders that he may be able to pay out 1p a share if Eagle wins either the court case against the bank or a later one against its former auditors, KPMG Peat Marwick, which is scheduled for next spring.
A Samuelson flotation would enablehim to make such a payment, but only after the banks have been repaid the bulk of their outstanding loans.
interviewThe producer and activist, Trudie Styler, whose film 'Filth' is up for five film awards, is tapping into the industry's neglected female talent
musicBlack Sabbath have pulled off one of rock music’s great comebacks – against all odds
interviewHer estate has become the nation's glossiest food empire
theatreTheatre's hitmaker Daniel Evans on 'Oliver' and bringing 'The Full Monty' to the stage
food + drinkMichelin-starred Tom Sellers on being this year's hottest property
tvParents (and kids) rejoice! A new wave of fantastic family entertainment is here
booksGeese, gorillas, grandads... and growing up
food + drinkHow one grocery e-tailer is gearing up for the Yuletide rush
food + drink
travelFor broadcaster Mishal Husain, a long-haul Club Med holiday was a chance for her family to explore its sense of 'zen' and 'animation'
food + drinkFestive snacks don't have to be fiddly, says Bill Granger
Hundreds arrested as Canadian police smash worldwide paedophile ring
Nelson Mandela: 11 inspirational quotes to live your life by
Ja Rule forced to deny leaving wife for prison cell mate
The 'terrorist' and the Tories: What did Nelson Mandela really think of Margaret Thatcher?
Crash pilot who threatened Ukip leader Nigel Farage found dead
- 1 Hundreds arrested as Canadian police smash worldwide paedophile ring
- 2 Sherlock series 3: Benedict Cumberbatch and Martin Freeman provide teasers for the biggest comeback in British television
- 3 People will try to reduce Mandela to a lilting reggae tune about ‘love’. They will fail
- 4 Why Barcelona chose Everton to educate their latest prodigy
- 5 Back from the dead? Family Guy's Brian Griffin 'to make a comeback' after fan petition
- < Previous
- Next >
iJobs Money & Business
£80000 - £100000 per annum + benefits + bonus: Harrington Starr: Project Manag...
£50000 - £60000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£30000 - £40000 per annum + Bonus and Benefits: Harrington Starr: A global Con...
£150 - £250 per day: Cornwallis Elt : iPhone Rollout- Blackberry Enginee...