Swiss deny Harland investment
Tuesday 28 July 1992
Hans-Pieter Strodel, of Oerlikon-Contraves, a division of Oerlikon-Buhrle, said: 'We sold five (Contraves) companies and that is it. We did not make any investment in any company.'
Dr Strodel said it was 'not correct' that Oerlikon-Buhrle had 'made available' pounds 2.45m for investment in Perfect Information as stated in Harland's circular to shareholders last October.
Harland said the contract of its agreement with Oerlikon-Buhrle was with its solicitors. A spokesman did not know why Dr Strodel should deny the investment.
Uncertainties over the investment in Perfect prompted Price Waterhouse to qualify Harland's latest accounts. The auditors were unable to verify who beneficially owned shares in Perfect that Harland has said were bought with pounds 2.45m from Oerlikon.
Harland, a control systems supplier, has provided substantial financial support to Perfect, an on-line news-cutting service. Perfect has spent much of its resources buying equipment from Harland.
According to the auditors' qualification, if Perfect's results had been consolidated with Harland's, the group's 1991 profit would have been up to pounds 2m lower.
Large Harland shareholders will meet Price Waterhouse and Hambros Bank, the company's advisers, this week to discuss its figures.
- 1 Bill Clinton portrait features Monica Lewinsky reference, artist admits
- 2 Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
- 3 PornHub turns masturbation into energy in bid to save the planet
- 4 Have sex with your iPad thanks to the new sex toy no-one asked for
- 5 Average penis size revealed: Scientists attempt to find what is 'normal' to reassure concerned men
Bill Clinton portrait features Monica Lewinsky reference, artist admits
Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
The 'sex selfie stick' lets you FaceTime the inside of a vagina
Kanye West gives guest lecture at Oxford University: 'If I, Kanye West, can remove my ego, I think there's hope for everyone'
'This is what Islam tells us to do': A rare glimpse inside a Saudi Arabian prison – where Isis terrorists are showered with perks and privileges
New theory could prove how life began and disprove God
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
This is what it's like to be dead, according to a guy who died for a bit
Ukip would cut billions from Scottish budget to fund English tax cuts
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
End of the licence fee: BBC to back radical overhaul of how it is funded
iJobs Money & Business
£20000 - £21000 per annum + uncapped commission: SThree: As a graduate you are...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£15000 - £16000 per annum: Recruitment Genius: A Customer Service Advisor is r...
£22000 per annum + pension,bonus,career progression: Ashdown Group: An establi...