Harland price dives as holders seek talks
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.SHARES in Harland Simon, the troubled control sytems group, almost halved in value again yesterday as Electra Investment Trust and other large investors sought meetings with Harland's merchant bank and auditors.
The share price dropped from 34p to 18p - less than 3 per cent of this year's peak. Market makers at County NatWest Wood Mackenzie dropped the price at which they are prepared to buy shares to just 5p.
Electra and other shareholders, speaking for about 30 per cent of Harland, met on Wednesday to consider their options.
Louise Cawser, of CIN, manager of the British Coal pension funds, said: 'There is so much we don't seem to know - including, is there a business there?' Although Harland's market value had crashed to only pounds 3m, she said 'everybody was willing to put the time into doing something'.
Shareholders will have to decide on their moves before the annual meeting in 11 days.
Two weeks ago Harland reported a pounds 6.3m loss, having led the City earlier this year to expect a pounds 13m profit. Its accounts were qualified by Price Waterhouse, the auditors, because of uncertainty over whether they should have consolidated the results of Perfect Information, to which Harland has committed large resources.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments