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Description: | DHF/4/71/1: Heads of agreement (26 Sept. 1934) between Ernest John Opie and H. Vernon Smith for the formation of a company to take over Opie's business selling automatic machines; consideration of 500 paid in by Smith; Opie receives 95 in shares; 75 machines to be built to Opie's design for sale or hire purchase; Smith will be allotted one fifth of one quarter of the shares in the company; no further cpaitla to be introduced until those machines are sold and Smith to have first option on providing such capital; commission to salesmen of 30/- per machine; board of director to consist of an Opie nominee, a Smith nominee and an independent chairman; if results are staisfactory, Smith will find further capital in instalments of 500 up to 2500 for the manufacture of further batches of 75 machines; if Smith finds further capital, Opie will transfer to him 100 shares per 500 found; the 2500 or such part as Smith advances to be secured by debentures not repayable on any given date; purchase price of every machine sold less 12s 6d and all bar first hire purchase instalments to be set aside for redemption of debentures. | License: | http://creativecommons.org/licenses/by/2.0/uk/ | Publisher: | Dudley Archives | Rights holder: | Dudley Archives | Temporal: | 1934 | Source: | Black Country History | Creator: | Dando; Alfred Wright (c.1864-1949); of Dudley, auctioneer and valuer | Identifier: | http://www.blackcountryhistory.org/colle... | Go to resource |
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Shares
Annual summaries of Share Capital,…
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