Running the Group
Running the Group

Annoyed by staff, media and company sale problems with Kode wanting to delay the deal to buy my company but I am firm with them all as Saudi Arabia join the Gulf War hostilities

On time to Grove House after the normal breakfast and to my office to sort out the outstanding work for action. Our normal coffee break and then twenty minutes with Leslie passing over and delegating various action items before the arrival of John Lamb to discuss personnel matters. Then to rush off to Little End Road for an 11.00am press interview with Oliver Tucker of Computing International to find he was late and, on arrival, less than familiar with Computer Industry structure and distribution channels. John Lamb was also struggling but I intervened often to make the meeting flow and bring some positive comments out. Quickly back home for my wallet and chequebook (which I had forgotten this morning) to St Neots for bank and building society transactions, and then to the office in Little Paxton to collect some papers. Afterwards by fast car to Eldon Street, London and my city solicitors Ashurst Morris and Crisp; half an hour late for a meeting with the Kode people.

Then a very hard and disappointing 4/5 hours starting with the revelations that they wanted to delay the contract signing and completion and continuing with all manner of criticisms and warranty/further information requirements on the terms of the deal. I had already had too much of their Finance Director and Chairman and was annoyed about the multiplicity of legal, financial, city and accountant advisors and the poor way in which they had been coordinated in Peter’s absence. I therefore slogged doggedly, refusing all warranties and ended up discovering that the real reason for delay was the need for their Merchant Bank to get Peats profit forecast before placing the new Kode shares with institutional investors. I allowed them one further week until Friday 15th June and the meeting broke up late for their dinner meeting with my fellow Directors. A fast and furious drive home and troubled evening upset by the result. In my meeting earlier, it transpired that Lesley Saunders, previously his secretary, is now muttering about being considered part of a ‘typing pool’ at Grove House which is very far from the position and such petty attitudes of status are annoying for management, but we must try to deal with them. I had mentioned David Sinn’s cigar smoking habits which are annoying us all but I will have to broach the subject as the girls suffer in silence and prefer not to affect their relationship. Awake also until after a few days of 1665 Samuel Pepys which settled me into a sound sleep. News today of Saudis shooting down an Iranian jet off the Gulf coast and of Whitehall controversy over the President Reagan security guards being armed whilst in England.