Page 21 - Stakis A Case Study
P. 21
DEVELOPMENT AND CHANGE: 1986-90
The history of the divisions may be traced as follows:
Finance Division
There were, in 1987, some 250 people in the Finance
Division, many of them skilled in the different areas of
financial services. From 1987 it was decided to show the net
current assets of this division separately in the accounts and
the company claimed a high return on capital employed
from the range of activities undertaken.
In September 1987 investment management activities were
expanded by the purchase of a London stockbroking firm,
Robert Wigram and Company. The amount paid was £4.7
million, £3.7 million new ordinary shares having been
issued to help fund this. The intention was that Wigram
would continue to operate under its existing management
but that its activities would complement those of the Isle of
