Tuesday, May 24, 2011

A Letter From Colin Seadon to Michael Partington - 24th May 1994

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It is worth noting Colin Seadon's reference to $30,555 of shares in Sutrac that the school owned at this time. As a non-profit organisation, it would appear to be against the legal standing of the school to own profit-making shares in a company. So far there is no indication in the school's documentation as to when these shares were purchased and if sold, when this was. Does the school still own these shares? If the school was involved in purchasing shares, does it own other shares in other companies that so far remain undiscovered?

Sutrac (short for Sudanese Tractor Company Limited) began life in Sudan as Sayer & Colley in 1952. It was as Sayer & Colley that Sutrac began it's long association with the school as an engineering and building company, responsible for much of the work on Principal Mrs Hepplestone's 40th Anniversary Technical Wing (now long since pulled down).

2 comments:

  1. Sutrac is now part of the DAL group.

    Contact Details
    Address:
    Sudanese Tractor Company Building
    Wad Medani Road
    Al Khartoum K(8)
    P.O. Box 56
    Al Khartoum
    Sudan

    Tel:
    +249 183-216333

    Fax:
    +249 183-236885

    Website:
    www.sutrac.com

    ReplyDelete
  2. Thank you very much for the information. In time the school will be pursuing these shares with a view to establishing their current ownership and if still owned by the school, the whereabouts of any profits accruing from them.

    ReplyDelete

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