Catalogue description Draft Agreement for Sale

Whereby, having stated that Warico (1929) Ltd. (of 281, Stoney Stanton Rd.[, Coventry]) was incorporated (on a date during 1929 not given) as a private company with £3,000 nominal capital (consisting of 1,750 preference, and 1,250 ordinary, shares) for continuing the business of John Cecil Joseph Smith, Alexander Pennich and Norbert Joseph Smith (of 279-281, Stoney Stanton Rd., fireplace-manufacturers and tile-merchants trading under the style of "The Warwick Tile Company"), firstly, the company will purchase the business with (a) the goodwill, (b) the furniture and fittings, (c) the benefit of subsisting contracts, (d) the stock-in-trade and other movables, (e) debts due to vendors, and (f) other relevant property; secondly,the company accepts the vendors' title to the business; thirdly, profits from the coming 30th. Nov. shall be ascertained,and dividends (apportioned between the vendors and the company from 31st. May, 1929) paid to Warico (1929) Ltd.; fourthly, the company will discharge the vendors' debts subsisting at 31st. May, 1929; fifthly in consideration of £300, 300 ordinary shares will be issued (numbered 1-900 and worth 6/8 each); sixthly, the transaction will be completed on an unspecified date in 1929 at Ortons' office, whereupon the vendors shall transfer certificates for those shares and execute any necessary deeds; seventhly, the vendors will conduct the business on the company's behalf until the deal has been settled; eighthly, the company will bear all legal costs; and ninthly, Warico (1929) Ltd. will file the agreement with the Registrar of Companies.