In the meantime I had been in the office Monday morning and was called by Lucy Pageant to say that she had been unable to get hold of Alec but that she had set up lunch with the Dalrymple CEO at the Blue Parrot for 12.30, would Alec and I mind making our own way.
“No problem,” I had said, “but Alec would like our Financial Director Bill Williams to come as well, I assume that is OK?”
“Fine,” she responded, “see you at 12.30.”
I asked June to find Alec and give him the message and to organise a taxi to get us to the Blue Parrot.
The Blue Parrott is one of the oldest pubs in Bristol, with a history going back as far as the 17th century. It has a pleasant restaurant, and the advantage that the seating is arranged in booths that permit private conversations.
When we got there, Lucy was waiting for us in the bar with two gentlemen. The first was tall with dark hair and I recognised him from the company publicity blurb as the CEO of Dalrymple, Mark Winter; the other was a much shorter pugnacious looking individual whom I did not recognise but turned out to be Dalrymple’s CFO. After the introductions were complete and drinks ordered, we were led through to our table.
Once settled and a few pleasantries exchanged Lucy started the ball rolling.
“I am glad you gentlemen have an opportunity to meet, I think you could have a lot in common. It is appreciated that this is just an exploratory meeting but it is my belief, and that of my colleague Ron Armstrong, that there are a lot of potential synergies between your two companies. Control Networks are strong in the UK, Europe, and parts of Asia and Africa while Dalrymple has a very strong presence in North and South America, but particularly with the Pentagon in the US. S o you have complementary market strengths and with similar product and technology assets, working together in some way could be beneficial for all shareholders.”
Bill Williams interrupted at this point. “Alec I think we need to remind everyone here that our stock goes public on Thursday of this week so we are not in a position to have any meaningful discussions which should be declared to the market. This session can only be a get to know you session and should I suggest be limited to that and an exchange of general information on where each company stands and is heading.”
“I regret that Bill is right Lucy, we need to be very careful. It is of course good to have the opportunity to meet but we need to keep it general. Mark, how about giving us a rundown on the history of Dalrymple, and maybe I could then do the same for Control Networks.”
“OK,” said Mark, “I fully understand the delicacy of your position.”
The lunch conversation then proceeded on that basis and it turned out to be pleasant enough. When it finally broke up, we had all got to some extent to know our opposite numbers and we invited them to come and see us at the office when they were next in town.
Alec had a quiet word with Lucy on the way out. “Sorry if that did not quite go the way you wanted Lucy, but I did warn Ron that meaningful discussions would not be possible.”
“That’s OK Alec, thanks for finding the time at what I know is a very busy period for you. I still think that having this meeting was worthwhile.”
“One final thing,” Alec said taking Lucy to one side, “are you aware that Dalrymple and Mendip Finance may, in the murky entrails of their ownership structure, have common ownership?”
“No, I wasn't, that is interesting. Why would they want to invest in you if they already have links to one of your big competitors?
“It can't be that they need us to fund them, I suspect the rumours may be right and they have a product development/technology problem going forward.”
“Well, that gives us something to think about, in the meantime we have at least broken the ice, and next time, if there is a next time, we can get in to more substantive issues.”
“Good luck for Thursday.” She said as she joined the Dalrymple guys in a taxi.
Back at the office I filled Alec in on the events of the last 24 hours. “Now I just hope they will release Adrian and we will hear from him soon.”
There was however no news and Thursday arrived. The brokers advised that the issue had been substantially over subscribed and they were accepting subscriptions for up to another 10 % of our shares as agreed.
A successful day and champagne was broken out in abundance. All staff joined the party that went on until the early evening.
No news however on Adrian and I tried to call Naismith, but no luck. Lloyd called to ask if I had news and when I said no he was quiet on the other end of the phone.
“This is proving difficult, ” he eventually said. “We have no real evidence as to who was involved in his abduction or where he is. Other than the initial response reporting the incident of him being taken from the car, and the recovery of your car from the Feeder, there has been no further public information. I am not sure what we can do at this stage, but let's stay in contact daily.”
“OK.”