531
The Chairman said that he had an open mind on the matter, but out of his loyalty to Rediffusion he was prepared to stay for a while at least to see how things would settle down.
Mr. Lamson Kwok pointed out that as the matter was very confidential, a spokesman should be appointed for the Board.
Mr. R.M. Denny said that the deal could not be regarded as reached until approved by Government. The Chairman said that a strong indication might be available from Government at the meeting arranged for Saturday and an announcement could be made over the weekend unless Mr. Scott were to oppose the proposals. Mr. L.M. Thompson expressed doubt as to whether the Government would give a clear indication by Saturday.
In reply to Mr. F.S. Li, Mr. Denny confided that Television House would be acquired by the Consortium at $80 million and they expected to negotiate with the Board on a new lease at market rental rates.
The Directors unanimously supported the proposal and appointed Mr. R.M. Denny as spokesman on the matter.
BANKING ARRANGEMENTS
A paper from Management on Banking Arrangements was tabled and discussed.
It was resolved (Mr, J. MacKenzie having declared his intercst) that banking arrangements as detailed in the said paper be and are hereby accepted.
532 - DIRECTOR'S LEAVE OF ABSENCE
It was noted that Mr. Lamson Kwok had taken leave of absence from 3rd to 10th February 1981.
533 NEXT MEETING
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The next meeting of the Directors would be held on Monday, 9th March 1981, at 2.30 p.m. at the Board Room of Sir Elly Kadoorie Continuation Ltd., St. George's Building, 23rd Floor, Hongkong.
Sidney Bordon
CHAIRMAN