NATS Bankrupt?
NATS/TAG management have just told all employees that they are unable to fulfil their obligation to issue a second batch of shares as per the privatisation agreement. The reason given is that they are unwilling to put a value on the company, which has to be done to work out the taxable value of the shares given to staff. They hope to be able to issue the shares in October, 6 months late. . .The obvious conclusion that staff are drawing is that a valuation of the company would be more disastrous news for the government, and may force them to take action similar to railtrack.