00
D
O 1 DESKBY 2009082
I
GRS 445
CONFIDENTIAL
See (511)
PECIVIO
HKK 164/1
DESKBY 208900Z
FM BTC HONG KONG 209138Z NOV-78
TO IMMEDIATE DO I
TELEGRAM NUMBER INDUS 202 OF 20 NOVEMBER
30
07
NO DISTRIBUTION
1978
REGI
Action
L+ 280 I
Dup R129
21/1
Mr Thomps
See Ho (309 310
He
"
HIIGA
TREDCEZ PUSD (2)
FOR KESTEN FROM THORNTON.
300
YOUR INDUS 292: UNITS 3 AND 4 LETTER OF INTENT.
1. WE HAVE AGREED A REVISED TEXT WITH KESCO, SUBJECT ONLY
TO CLEARANCE BY THEIR LONDON LAWYERS, DURRANT PIESSE WHO NOW HAVE
IT.
2. TEXTS OF LIPPITT'S LETTER AND LOI ARE AS IN MY INDUS 190, SUBJECT TO THE FOLLOWING AMENDMENTS :
A) LIPPITT'S LETTER.
PARA 1 : ''MY LETTERS FOR THE LETTERS OF THE DO1".
PARA 2 AGREED TO BE REPLACED BY GEC'S PROPOSED PARAGRAPH,
**
~/R
EXCEPT CONCLUSION TO READ .... ASSURE YOURSELVES THAT THE PRICE
SO ADJUSTED IS THEN INTERNATIONALLY COMPETITIVE.''
PARA 3(C): INSERT AFTER 'SHALL'', ''USE ITS BEST ENDEAVOURS TO**. PARA 4(A) • FIRST SENTENCE : DELETE ''IN US DOLLARS''
SECOND SENTENCE : INSERT AT BEGINNING IF THE LOAN IS
DENOMINATED IN US DOLLARS'' END SENTENCE AFTER ''PER ANNUM” DELETE 'AND'', START NEW SENTENCE THE LOAN...''
PARA 4 (C) : DELETE PASSAGE IN SQUARE BRACKETS AND AMEND DATE
TO 1 MARCH.
PARA 5 SENTENCE TO CONCLUDE, TO GEC TURBINE GENERATORS LTD IN THE TERMS OF THE ENCLOSED DRAFT DATED....
(B) LETTER OF INTENT.
ONLY CHANGES ARE IN PARA 7 : ''31ST MARCH'' TO BECOME
**26TH MARCH'' ON FIRST APPEARANCE AND 1ST MARCH'' ON SECOND. (BUT ASK ECGD FINALLY TO CHECK THAT 26TH IS INDEED CORRECT DATE, AND NOT 27TH OR SOME OTHER - BIRCH AND RANSON WERE UNSURE).
3. DURRANT AND PIESSE HAVE BEEN GIVEN YOUR/MY TELNO TO NOTIFY ANY PROBLEMS IT IS VERY MUCH HOPED THEY COULD BE SOLVED IN LONDON, WITH ECGD/GEC. SUGGEST YOU CONSIDER BIRCH MAIN POINT OF CONTACT, SINCE HE (NOT CAMERON) HAS BEEN THROUGH DISCUSSIONS HERE. I HAVE HOWEVER ALSO ASKED BISCHOFF (SCHRODER AND CHARTERED) TO LET ME ALSO KNOW LOCALLY GE AMY LAST MINUTE PRORI EMS. MOME ARE EXPECTED