STOS+PLC

=STOS PLC=

Company Number: SC001827 Date of Incorporation: 13 February 1889 Contact Details: 95 Bothwell Street, Glasgow, G2 7JZ Operating Details: In Liquidation (last accounts were due in 2006) Other names (if known): Reversionary Association Limited (1889-1926) Securities Trust of Scotland Public Limited Company (1926-2005) Function of Company*: Other financial intermediation (6523) – investment trust Headquarters/Base of Operations Location: Edinburgh Area of Operation: Invested worldwide


 * Taken from Standard Industrial Classification 2003, as used by Companies House in 2010

Records
Held By: National Archives of Scotland GB 234 GD448

Scope/type: Securities Trust of Scotland Ltd, directors minute books, 1929-1954; stockholders minute book, 1929-1971. Second Securities Trust for Scotland Ltd, directors minute books, 1927-1961; shareholders minute book, 1929-1960.

Conditions governing access/use: Listed as open as according to standard NAS procedures and regulations.

Related records: Part of the historic records placed on indefinite loan by Martin Currie (GD448) Investment Management in 1991-2. See the rest of the fonds for further investment records from this time

Company History
Registered at Edinburgh on 13 Feb 1889 as Reversionary Association Ltd (section 12); the name changed in Jan 1926 to Securities Trust of Scotland Ltd. In 1895 the capital was increased from £100,000 to £250,000 and in 1901 to £350,000. In 1918 the authorised capital was reduced to £280,000 and the paid-up capital from £325,000 to £260,000, by writing off £1 of each issued share from £5 to £4. In 1925 the shares were subdivided from £4 to £1. In 1926 the capital was increased to £500,000, in 1928 to £800,000 when all preference shares were converted into stock, in 1956 to £1,500,000 and in Mar 1960 to £2,250,000, the unissued shares being classified as ordinary. Under the provisions of a scheme of arrangement effective from 28 Feb 1961, the company acquired the undertakings of Melville Trust Ltd (sec 7), Oregon Mortgage Company Ltd (sec 10) and Second Securities Trust of Scotland Ltd (sec 20) by exchange of capital, this company assuming liability for the outstanding debenture stocks of the acquired companies. Under the scheme of 28 Feb 1961 the 5% preference stock was converted into 4½% preference stock, holders receiving a capitalised distribution in satisfaction of a modification of rights; and the capital was increased to £8,000,000 (by £2,092,500 4½% preference, £3,050,000 ordinary and £607,500 unclassified). In June 1963 455,000 unclassified shares were designated ordinary and subdivided from £1 to 5s.

The company was later absorbed by Martin Currie Investment Management. Martin Currie was originally founded in 1881 as an accountancy practice. The management of investment portfolios became an increasingly important part of the company's activities and since 1958 this has been its sole area of activity. Originally a partnership, the firm was incorporated in 1985. The company is wholly based in Edinburgh, now in new premises, and maintains no other UK or overseas offices.

In 2005 Martin Currie began to liquidate STOS, however they have set up a successor Trust under the same name that continues to attract new clients.

Information taken from BACS work done in 2006 and the Martin Currie website accessed January 2011