THE SUNDAY TELEGRAPH OCTOBER 21, 1984 , ,

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'.NK A BIG BINGO I row BUNGLE AT < THE MIRROR

HE SIEGE of Mirror for example, has actually seen plan his lucky copy of the news­ T Group newspaper offices Marks in London last week by paper and claimed. Many go astray. d at American Express, more than a thousand readers, all under the delu­ In late September, before the 'ices giant best known sion that they had won Mirror announced its first mil­ French lionaire, two ladies (very much departure of Edmond £5,000 on bingo in the against the antitipated odds) Sunday Mirror, was not, I came down from Scotland in Banking Corporation. understand, the first brush the running for £1 million from Robert Maxwell's new com­ Maxwell's Daily Mirror. Neither IS had the Times concerned that its prize money iillion. unlisted securities market portfolio game and the Sun's budget might overrun, sent a letter on September ] 2 If present trends continue, just under a year ago. bingo stunt. to he pre-tax profits of R & P In the course of negotiations Knightway Promotions seeking .ould well be above the £8·9 Its initial offer for sale at with the newspaper proprietors, to recover sums of £fOO,OOO nillion of ]983/4, showing that 123p a share was over­ who have a budget in mind for and up to £1 million or £2 :his broker at least has not subscribed 11 times and to­ rhe total outlay on prizes, the million should the two Scots reen sold at the peak of its day the shares stand at 370p promotion cornpa nv indicated ladies come up trumps. earnings. on a historic pie of 28, the odds on the timing and Fortunately for Mirror, and In all, combined attributable double the average for the extent of likely winners. perhaps Knightway, the ladies refits of the four in the cur­ stores sector. The odds against anyone won the smaller prizes only, rent ] 2 months to end-March It is quite likely that Knieht­ could be we]] up on the theo­ But this 'Week I expect per.son landing a prize are suit­ -retical £37·7 million for ]983/4. Marks to show just how ably enormous but the chances way has taken out professional There will be blood on the much French Connection that the newspaper itself will indemnity insurance. But is it City's trading floors in the deserves that premium have to pay a prize depend on valid against this kind of thing, next few years, but J expect rating when he unveils whether an outright winner, I wonder? Pegasus to do better than figures for the six months to most. It certainly has the end July. potential to fly high. These should show pre-tax profits soaring from £899,000 Why the secrecy. to comfortably over £3'75 mil­ ENNY LEE had a rough to give its blessing to the ISsue. Berens joins lion after the purchase in the start in business. His But in leaving out a refer­ spring of a 50 per cent inter­ B ence I believe both Russell Boesky's board est in Best of All Clothing, early experiences included a Wood and the Stock 'Exchange Marks's exclusive United conviction and fine for reo are making a mistake. ENRY BERENS, manag­ States distributor. ceiving stolen goods. H ing director of London The Best of All Clothing ac­ But that was baok in the Trust, is joining the b-oard of quisition will produce a sharp fifties and he has turned over a Thornton on Cambrian & General Securi­ rise in minorities but earnings new leaf. This week film aes, the British investment per share should still be mov­ equipment hire specialist Media ing smartly ahead. Technology International, a his way back ;rust run by Wall Street arbi­ company where Benny and his \rageur Ivan Eoesky. At home expansion con­ brother, John, are non-executive LIVE THORNTON, who Berens' colleague, Edward tinues and French Connection directors, makes its debut on C tells me he planned to )avies, is already a Cambrian has opened four new shops in the unlisted securities market offer sacked Times edi tor tirector and London Trust ha the last few months as well via' a placing. Harry Evans the editorship lad close links with Boesky's as buying a factory in South The figures in the prospectus naster company, Ivan F. Boe­ of one of the Mirror news­ Shields from the receiver to should make good reading. Pro­ papers, may yet be on his skv Corporation. supplement its production fits last year soared from They have a joint venture facilities in the Far East. £865,000 to £1·54 million and way back to newspaper ompany that participates in the company is likely to have a management. ome of Boesky's arbitrage Meanwhile the United value of around ill· 5 million at Thornton, celebrating a pay­ perations and London Trust States fashion world is warm­ the expected placing price. At off from Reed International of Iso holds $10 million of profit­ ing to Marks's design flair this level the Lee brothers will about £300,000 for losing the articipating Boesky Corpora­ and this week he will open a own shares worth over £6 second shop in New York. Mirror Group to Robert .Max­ on Joan stock. million. well. has been approached by Berens' appointment plu Brokers reckon profits in Although J don't like raking three separate groups of jour. ie recent announcement that the full year will climb as over the past, I must point out nalists who all think they have ambrian is raising £20 high as :dO million against that what will not appear in identified a gap in the Fleet illion through a rights issue just £3' 27 million in 1983·84 the prospectus is Lee's convic­ Street market. d another $110 million in and Marks must now be tion. Broker Russell Wood and One would involve a man­ urodollar loans suggest that thinking about moving the its legal advisers take the view agement buy-out and the other oesky plans . to become in- company onto the " Big that a fine for receiving stolen two the lau.nch of a modern - • •• ...... , __ • _ .... _~.1..a ;_ ...... A ...... 11 .... f ~(\ '''~'rC' ~O'n lCO nn't- iohln1~ ulIOrC:lnn nf "he. '1\70''''. A BIG BINGO BUNGLE AT THE MIRROR

HE SIEGE of Mirror for example, has actually seen I T Group newspaper offices his lucky copy of the news­ in London last week by paper and claimed. Many go more than a thousand astray. readers, all under the delu­ In late September, before the sion that they had won ,1irror announced its first mil­ lionaire, two ladies (very much £5,000 on bLll'gO in the against the antitipated odds) Sunday Mirror, was not, I came down from Scotland in understand, the first brush the running for £] million from Robert Maxwell's Dew com­ Maxwell's Daily Mirror. Neither pany has had with the laws succeeded in the draw for the of probability. prize but both went home with The con tract to devise the tax-free prizes of £50,000 Mirror " Millionaire" game each. Maxwell. one can imagine, was given out to J-l uddersfield was not amused. The appearance of these I' based Knightway Promotions jointly run by Yorkshireman potential Scottish rnillion­ " Peter Bulless and Roger Field­ airesses was apparently pre­ I, ing a former senior sales execu­ mature. I understand that e tive with Europrent Promotions solicitors representing .the e of Blackburn-which incident­ Daily Mirror Group, which was e ally devised both the Times concerned that its prize money t portfolio game and the Sun's budget might overrun, sent a bingo stunt. letter on September ] 2 'I'Q In the course of negotiations Knightway Promotions seeking witb the newspaper proprietors, to recover sums of £roO.DOO r· who have a budget in mind for and up to £1 million or £2 ). the total outlay on prizes, the million should the two Scots p promotion companv indicated ladies come up trumps. I, tbe odds on the timing and Fortunately for Mirror, and e extent of likely winners. perhaps Knightway, the ladies The odds against anyone won the smaller prizes on 1.1'. :t person landing a prize are suit­ It is quite likely that Knight­ w ably enormous but the chances way has taken out professional n that the newspaper itself will indemnity insurance. But is it n have to pay a prize depend on valid against this kind of thing, Is whether an outright winner, I wonder? ;0