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.
Threat of 'catastrophic cascade of collisions' must be averted, warn scientists
Wellcome Image Awards: The most striking images from the world of science, including breast cancer cells under chemical attack and a photographer’s own kidney stone
Missing Malaysia Airlines plane: 'All passengers' under investigation, police say
Bob Crow death: RMT Union leader dies of massive heart attack aged 52
Oscar Pistorius murder trial: Athlete repeatedly sick as court hears 'graphic details' of Reeva Steenkamp's post-mortem
How climate change helped Genghis Khan: Scientists believe a sudden period of warmer weather allowed the Mongols to invade with such success
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
Exclusive: Impact of immigrants on British workers ‘negligible’
Vince Cable: Teachers 'know absolutely nothing' about the world of work
Ukraine crisis: Russia pledges to 'retaliate against sanctions' as Ukrainian president says Crimea vote will not be recognised
The quiet diplomat: Catherine Ashton - recognised and admired in all the world’s troubled countries, yet ridiculed at home
- 1 Pakistan vs Paul Smith: Sandal-wearers bemused by famed British designer's attempts to sell traditional Peshawari chappal-style shoes for the distinctly untraditional sum of £300
- 2 Family forced to flee home after discovering nest of potentially deadly spiders in bananas
- 3 Grace Dent: Who cares if she spells it Barraco Barner? Gemma Worrall is more employable than some bookish arts graduate
- 4 Russell Crowe's Noah banned in three Arab countries before worldwide premiere
- 5 Bob Crow death: RMT Union leader dies of massive heart attack aged 52
iJobs Money & Business
£1000 per month: Inspiring Interns: The company works with Tier 1 FTSE 100 Ban...
£35000 - £60000 per annum + Bonus + Benefits: Pro-Recruitment Group: You must ...
£60000 - £80000 per annum + BONUS + BENEFITS: Harrington Starr: A top, City ba...
VOLUNTARY ONLY - EXPENSES REIMBURSED : Reach Volunteering: Fantastic opportuni...