Diana gives birth to a baby daughter after I have rushed down to London and complete the deal to sell Comart to Kode and then rushed back to appreciate my even happier event
Another glorious sunny morning that moderated to a warm but dull day. Awake at 6.45 as normal after a certain amount of sleep, a cup of tea with Norma and the family and then to phone the Delivery Suite to see how Diana had fared. I spoke to both the sister and to Di and the opinion is that she has started a slow labour, her waters have broken and that I should call again at 12.00 for progress. I manage to phone two of Diana’s friends to put off engagements and also cleaner Joan to check arrangements. Together with Norma, we get the kids dressed, fed and ready for school and she leaves for home; and me for the office dropping Debbie off on the way.
To the office and to brief June and John on developments. Then to get June started on the press release preparation and a phone call with Richard James to relate the plan. Conclusive legal negotiations this morning with a form of comfort letter agreed, this afternoon in preparation at the Merchant Bank, then sign at 5.00 (latest 6.00pm.) We adopt a firm but reasonable stance and if the deal is not concluded today – it is off. I call my trustees and try to get a trust deed copy as requested, and then catch up on my journal whilst awaiting developments. A struggle for Richard to agree the comfort letter and other matters with Kode and eventually I leave to collect Debbie from school, eat my lunch and collect some money from the bank.
Back to the office briefly to collect June’s typed comfort letter and copies of the staff announcement and press releases for my meeting and then a 100mph plus rush down to Stevenage station just in time to collect the 2.17pm train. 10 mins late to Ashursts 3.00pm meeting and a quick briefing there and off on foot to Flemings Merchant Bankers with a law student in tow with Richard (there had been no change in Diana’s condition at 12.00 noon and I was to phone again at 6.00pm.)
A tough 3 hour negotiation with me putting the share conversion issue top of the agenda and an amount of brinkmanship before achieving all of our negotiation goals; the £2 ½ M, the Kode shares at £2.80 (vs £2.93 or £2.95 market value,) no warranties; Comart Directors comfort only, no competitive restrictions and no forecast update.
Then to call the hospital at 6.30pm and find that Diana had given birth to a baby girl of 7lbs 3ozs at 4.55pm – we had both achieved our tasks! A while to extricate myself until eventually a dash to Huntingdon’s Hinchingbrooke Rowan Maternity Ward, stopping at a petrol station en route to collect 4 bunches of flowers and a box of chocolates. By this time the mothers were all settled down for the evening but, upon telling my tale to the Matron, she opened the ward and let me and the press photographers in. Diana and the lovely little baby girl were both doing fine.
Home late to complete my journal and retire rather tired to bed. All in all a day to remember and the most vivid memory was of the birth of my baby daughter as i was doing the deal in a room full of 20+ people holding 6+ conversations which was Kode’s full board, Peat Marwick Mitchell, Stockbrokers, Flemings and only Richard James and myself in opposition winning the day!