Voting shake-up lifts Parker
Wednesday 25 September 1996
The 107-year-old company announced plans to end the dual share structure which gave voting control to the descendants of the founder, Frederick Parker. At the same time, the two last remaining family representatives on the board are to relinquish executive duties, with chairman Martin Jourdan taking on a non-executive role.
News that holders of the voters are to receive a two-for-three scrip issue to compensate for loss of control sent the thinly traded shares 65p ahead to 240p. They are now 100p higher than where they were at the start of September. The non-voting A shares were left almost unmoved by the day's events, slipping 0.5p to 165p.
Analysts had been expecting moves to update the share structure since the arrival last year of a new chief executive, James Moore, who has been shaking up the business. Yesterday, he unveiled pre-tax losses deepened from pounds 936,000 to pounds 1.08m for the year to July. Excluding exceptionals, profits jumped from pounds 1.04m to pounds 3.6m.
Comment, page 19
- 1 King Salman: Just five days in, Saudi Arabia's new king has already overseen a beheading
- 2 The BBC has just done more to eradicate ‘terrorism’ than all our wars since 9/11
- 3 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 4 Presidential optical illusion offers clues to how brain processes faces
- 5 Grumpy Roald Dahl letter warning student to 'eschew beastly adjectives' rediscovered after 35 years
King Salman: Just five days in, Saudi Arabia's new king has already overseen a beheading
Auschwitz liberation 70th anniversary: Woman sent to three Nazi death camps describes surviving gas chamber
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Ukip Jelly Babies cause uproar on Amazon
Chilling drone footage captures Auschwitz ahead of 70th anniversary of liberation
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
iJobs Money & Business
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...
Competitive salary & benefits!: MBDA UK Ltd: MBDA UK LTD Indirect Procurement...
£16500 - £16640 per annum: Recruitment Genius: This fast growing Finance compa...