- Published: 29 May 2014 29 May 2014
Sunny day sorting out Share conversion formulae and Chairing a Comart Review meeting that approves £100K capital requests before late home to hear of more conflict on the miners picket line with missiles thrown, riot shields used and police horses charging the pickets.
Up on time but, after breakfast a hair wash and shower, late to the office laden with my two weekend leather briefcases. A hectic morning with yesterday’s work lost to the Bank Holiday. First a series of meetings with John Lamb, Peter King and Stephen Day and phone calls with Geoff Lynch to try to move along the minority share negotiations. The first Kode proposals, based on a share conversion formula that relied on two year performance levels to allow their shares to be transferred at today’s conversion rates was too harsh and led to a rather hostile reaction all round.
Then a complex profit forecast document introduced by Peat Marwick to Derek Weatherby caused a flutter until I telephoned Richard James and we agreed that our original plans were to apply and, in Peter Smith’s absence, the professional advisers were running amok. Time then with John Lamb to agree the reporting highlights for the afternoon’s Comart Review Meeting, and also to hear of the problems within Comart’s sales team where resignations and dissatisfaction have followed in the wake of David Fear’s absence and inability to do the job whilst coping with his own marital problems. A rushed lunch of sandwiches and late to the Comart Review Meeting, welcoming Carlton Lowe for the first time and passing over certain reporting to John Lamb. A good meeting running to reasonable time but difficult to hold the Director’s concentration at this troubled time with David struggling and Derek impatient to spend his efforts elsewhere. Nevertheless we review last month’s performance, the outstanding budget action items, and dealt with a record number of capital requests including over £100K to automate the Comart assembly process. Late at the office well into the evening writing up the minutes, studying the Grove House contract and surveys, and in telephone contact with Geoff Lynch (over his accountant’s resignation) Derek Weatherby and John Lamb (about service revenue forecasts and budgets) and Carlton Lowe (to complete the capital approval requests.) At last home about 10.30pm to eat my dinner, listen to the news and retire late to bed. News today of more conflict on the miners picket line with missiles thrown, riot shields used and police horses charging the pickets. Also of more tension in the Gulf and international business confidence low. The weather turned up today (now that the Bank Holiday is over) and we are back to sunny and pleasant weather! C’est la vie.