Day 003 - 30 Jun 94 - Page 49
1 A. Sir, I have nothing to apologise for. The leaflet in
question that has been published and to which this
2 litigation has come forth contains falsehoods; they are
not true; I am here to defend our good name. It is as
3 simple as that. There is nothing to apologise for.
4 Q. Thank you very much, Mr. Preston. My Lord, I have no more
questions.
5
MR. JUSTICE BELL: Could I ask something about being a publicly
6 owned company?
A. Yes.
7
Q. What is the position of the first plaintiff, the United
8 States Corporation?
A. The parent corporation is publicly traded; shares in
9 the corporation are actively traded on the New York Stock
Exchange.
10
Q. Your Stock Exchange?
11 A. The shares in the British company are all owned by the
parent in the US; shares in this company, Sir, are not
12 traded on the British Stock Exchange.
13 Q. So you cannot buy shares in the company of which you are
chief executive?
14 A. That is correct.
15 Q. In this country? That is wholly owned by the first
plaintiff?
16 A. Yes.
17 Q. But the public can buy and sell shares and they are listed
and the share price goes up and down on the New York Stock
18 Exchange?
A. Yes. And several other exchanges around the world.
19 We are in fact a member of the Dow Jones Industrial
Average; the 30 shares that make up that average.
20
MR. JUSTICE BELL: We will resume at 10.30 in the morning.
21
You have someone to help you if you need to refer to
22 documents? I have seen Mr. Smith brought bundles across
for you.
23
MISS STEEL: Yes.
24
MR. JUSTICE BELL: You start your cross-examination of
25 Mr. Preston then. If we get to 12 noon and you have more
questions to ask, we will break off for Mr. Beavers so his
26 evidence can be finished and you can come back to
Mr. Preston after that.
27
(The court adjourned until the following day)
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