Eire Transport Shareholders
Page 15
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THE following arrangements have been announced for the compensation of holders of stocks and shares in Coras lotnpair Eireann, which is to he nationalized and regarding which a story commences in this issue and will be concluded next week:—Guaranteed 3 per cent. debenture stock to the extent of £14,439.083 will be converted into guaranteed transport stock on a par basis, and with the same interest and date of redemption. Common stock, amounting to £3,517,726, will be con
verted to 3 per cent. guaranteed transport stock (1975-85), the basis in this case being 4:80 per :E100 of common stock.
Legislation for this will be sought in a Bill to be introduced shortly by the Minister of Industry and Commerce, arranging for the setting up of the Transport Board. This will probably be the subject of considerable discussion, but Irish opinion suggests that it may be passed during the Autumn session.