The report and accounts of the loss-making Stewart Nairn Group shows that Bukhatir Investments has sold its 55% controlling interest in the group and that the major shareholders are now the Allen and Walker families with 29.9%.
The name of the company is to be changed to Ossory Estates, reflecting the fact that two of the principal shareholders were the executive directors of Ossory Road Investments during its successful times.
From a profit of £33,000 at the pre-tax stage in the year to June 30 1985 there was a loss of £371,000 in the year to June 1986, mainly as a result of currency movements and a loss on the sale of a property in Sharjah.
The loss attributable to shareholders amounted to £657,000 with the loss per share stated at 55p on a fully diluted basis against a profit for the previous year of 45p.
