ARMSTRONG-WHITWORTHS
FUSION WITH VICKERS. RESOLUTIONS PASSED. London, Nov. 28. Meetings of holders of various classes of shares and debentures in Armstrong-W hitworths. passed resolutions tor fusion with the Vickers Co. Some debenture-holders angrily protested against the writing off of £ll, (JOO,OOO. Similar meetings of Vickers’ also adopted the resolutions.—(A and N.Z.) Details of the amalgamation of \ ickers and Armstrong Whitworths show that a new company is being formed ,as “Vickers. Armstrong “•ip'ted "‘ith capital not exceeding £21,000,000. Vickers receiving £B.500.000 in fully paid shares and Armstrong’s £4.500,000 in fully paid shares as the purchase price. A novel feature is an arrangement with the Sun Insurance Cov. for a policy whereby, if the protits fail to reach £OOO-000 in any year the Sun Cov. will contribute £200,000.
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Hawke's Bay Tribune, Volume XVII, 30 November 1927, Page 7
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126ARMSTRONG-WHITWORTHS Hawke's Bay Tribune, Volume XVII, 30 November 1927, Page 7
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