London legal meetings for takeover advice and with Royal College of Arms Herald before back form more legal advice with regard to Grove House and then attending a depressing Kimbolton Parents evening for Daniel as British Leyland close their Bathgate Truck and Leeds Bus Plants
A cool and rainy day, with the ground continuing to get the watering it desperately needed. Up early, to breakfast, and out by car to St Neots station in time to catch the 8.02am Kings Cross train; paying for my 1st class return fare by Barclaycard. A pleasant journey, in good comfort and able to undertake a little reading of the Kode takeover papers. Time to browse through the book stall at Kings Cross station and I buy a couple of boating magazines separately to provide sufficient change in coins for the underground ticket machines. Off by tube to Liverpool Street and a short walk to the offices of Ashurst Crisp at Broad Gate House.
I am kept waiting a while as Richard James attends to some urgent work on the disposal of eight Malaysian companies. It gives me time, however, to read the Financial Times which features the use of employee and executive share schemes as “golden handcuffs.” A good meeting with Richard, a senior partner, and a junior colleague, Michael Stover, who might be assisting. We construct a form of agreement which Richard will draft if time allows which keeps the transaction simple and avoids any form of warranty that is not essential. I decide to end up with 5% of Kode PLC shares for about £750K at the price ruling at the date of contract rather than completion with no restrictions on their trading apart from the Stock Exchange Rule Book. Eventually away by tube and taxi to the College of Arms where I meet the Range Dragon Persuivant, Mr Peter Dickinson, and approve the sketch I was sent. He explains that the Helmet and Mantle are always left off at this stage but will be included and also that the design will now be sent up to the Marshal King of Arms for approval and early confirmation. Whilst there, I buy a number of heraldic publications from the range on display including pictorial displays of the London Livery Company Arms and past Kings of England. To Kings Cross again by taxi and a relaxed pot of tea and cheesecake at the station bistro waiting for my return train. Both here and on the train to read my mornings purchases before arriving back in St Neots in early afternoon. At the factory I catch up on the afternoon’s mail, David Fear’s absence through marital stress, and progress the final legal negotiations over Grove House through Christopher Evans of Vintners. Leslie Saunders is busy laying out the new space and planning furniture, power and telephone points, and plans exist for the structural surveyor, Mr Keagan, to call in the office tomorrow to take my instructions. The sticking point is the question of liability for damp coursing and protection of the lower two floors. An after-hours chat with John Lamb before Diana called and reminded me of our evening’s appointment at Kimbolton School to meet Daniel’s teachers. A hurried journey home, quick meal, and then off to spend a depressing two hours hopping from labelled desk to desk hearing how Daniel was really struggling in the first term, a bit better this but still finding the work difficult and not putting in enough effort on his prep. We arrive back and find him waiting up to discuss it. Then to bed for a night that started restless and ended up with us soundly asleep. News today of both London and Moscow expelling a diplomat/intelligence officer in mutual retaliation as a result of the Bettaney Spy Affair. Also of Prior’s continued comments about staying for only a short term in Ulster. The most depressing news of the British Leyland closure of the Bathgate Truck Plant – 1800 jobs – and a further 440 jobs also to go at the Leeds Bus Plant. Also via John Lamb who visited the CCTA today, of the rock bottom morale of officers taking early retirement to reduce the civil service head count and in alienation over the lack of government long term commitment and support.