Reference
Z1039/3/1
Title
Agreement
Parties:
(i) Lawrence Read Colburne Higgins of Wootton House, Butleigh Wootton, Glastonbury [Somerset], esquire;
(ii) Anthony Edward Foulis Wingfield of Ampthill House, esquire;
(iii) Cecil Charles Norman Colburne Higgins of 9 Queen Anne Street, London, esquire;
(iv) George Croxton Walker of 1 St.Paul's Square, Bedford, estate agent;
(v) William Henry Hines of The Castle Brewery, Bedford, brewers manager;
(vi) Bernard Alleyne Murray of 1 Henrietta Street, Cavendish Square, London, solicitor;
(vii) Wells & Winch Limited of The Brewery, Biggleswade
Reciting:
- Higgins & Sons Limited was incorporated with shares with a nominal value of 80,000 divided into 1,283 shares of 10 (none of which had been issued) and 6,717 preferred ordinary shares of 5 and 6,717 deferred ordinary shares of 5 each;
- (i) and (ii) were registered holders of all issued preferred ordinary shares and (iii)-(vi) were holders of all issued deferred ordinary shares;
- Wells & Winch Limited had agreed to purchase all issued share capital of Higgins & Sons Limited
Operative Part:
- (i) to sell to (vii) 6,697 preferred ordinary shares in Higgins & Sons Limited at 5 each;
- (ii) to sell to (vii) 20 preferred ordinary shares in Higgins & Sons Limited at 5 each;
- (iii)-(vi) to sell to (vii) the 6,717 deferred ordinary shares in Higgins & Sons Limited held by them at 21/15/11 per share;
- (vii) to pay 5% of purchase money and the balance , with interest at 5% from 30 Sep 1927 to 2 Jan 1928 when sale completion would occur at 1 Henrietta Street;
- (i) and (ii) entitled to dividend of 5% less tax for the three months from 30 Sep 1927 on their preferred ordinary shares;
- (iii)-(vi) entitled to receive dividend of 20% tax free from the three months from 30 Sep 1927 on their deferred ordinary shares;
- (vii) entitled to deduct dividends from purchase money commencing 1 Oct 1927;
- (i)-(vi) on completion of sale will procure appointment of nominees of (vii) as Directors of Higgins & Sons Limited, present directors then retiring; (iv) to be remunerated at 1,000 per annum after tax from 30 Sep 1927 until his retirement as director;
- until completion directors of Higgins & Sons Limited to carry on business as usual;
- (i)-(vi) agreed to appoint Cecil Charles Norman Colburne Higgins, W.W.Collins of 11 Queen Victoria Street, London, chartered accountant and (vi) as agents to receive money;
- purchase money and interest to be paid on draft of Lloyds Bank Limited or Bank of England
Witnesses:
- Sidney Goodwin of 9 Queen Anne Street, London, butler;
- George Coxall of 1 Henrietta Street, Cavendish Square, London, solicitors' clerk
Date free text
1 Dec 1927
Production date
From: 1927 To: 1928
Level of description
item