Chairman to MD: 'Do I know you?'(United Kingdom corporate government and boards of companies carrying out stock flotations)

Article Abstract:

Companies planning a stock floation may appoint a well-known figure as a director in order to appear more credible to investors. Snakeboard is a company which appointed David Lloyd, a well-known millionaire, as a director prior to its floation, and this may have persuaded some investors to buy the company's stocks. Lloyd later contributed 200,000 pounds sterling as a loan when Snakeboard encountered financial problems. Investors should assess how long a director has been in the post prior to a stock flotation.

Management Functions, Snakeboard

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Grampian: another chance

Article Abstract:

Grampian has three main acitivites, sporting goods, veterinary products, and transportation. The company aims to expand its transportation side and can fund this by disposing of non-core activities. Animal drugs looks set to improve with an export order won by the German business. Sporting goods reported a profit for 1995, the first for four years, and Patrick, a supplier of football boots, is to be sold. A stake of 25% in Edinburgh Woollen Mills may also be sold.

Pharmaceutical Preparation Manufacturing, Pharmaceutical preparations, Veterinary Drugs, Transportation, Transportation industry, Grampian Holdings PLC

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Fund chiefs lay down the law

Article Abstract:

UK institutional investors are expressing views on corporate governance to companies they invest in following the Greenbury report. Greenbury examined UK corporate governance in his 1995 report and made a number of recommendations. Standard Life's recommendations inclyde separation of the roles of chief executive and chairman. Institutions have previously not set out their policies in such a formal manner, though the recommendations are not controversial.

Institutional investments

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