Swire’s other jobs – which includes advice to a company that owns “Jolly Roger (Amusement Rides) Ltd”!

Job 1 – Deputy Chairman of the Commonwealth Enterprise and Investment Council (CWEIC)

For this job Swire has declared a salary of £2,000 per month which is said to be for 2 days work a month as cited below:

“You asked for the Committee’s advice [Office of the Advisory Committee on Business Appointments] OFFICE OF THE ADVISORY COMMITTEE ON BUSINESS APPOINTMENTS] about accepting a new role as Deputy Chairman of the Commonwealth Enterprise and Investment Council (CWEIC).

CWEIC is an international organisation representing governments and business from across the Commonwealth. It promotes trade between Commonwealth countries and their work includes bringing together Commonwealth Trade Ministers and leaders to discuss trade and investment cooperation.

The Committee noted that as Deputy Chairman, the role would be part­time, paid, and involve around two days’ work per month. This would include attending four Board meetings a year, conferences and other meetings related to CWEIC in order to promote their activities.”

PLUS

Job 2: Advisor to KIS (France)

For his other job of advising Photo Me he has declared an income of £3,000 per month for approximately 8 hours work per month = £375 per hour:

“Sir Hugo sought the Committee’s advice about taking up a paid, part-time appointment as an advisor to KIS (France), a manufacturer of photo booths and mini labs.

When considering this application the Committee noted that KIS (France) is a subsidiary of Photo-Me plc, which Sir Hugo was previously associated with when the Conservative Party was in opposition, as non-executive Chairman.

The Committee took into account that Sir Hugo’s role with KIS is not likely to include any contact with Government and his former department raised no concerns about it.”

https://www.gov.uk/government/publications/swire-hugo-minister-of-state-fco-acoba-recommendation/summary-of-business-appointments-applications-sir-hugo-swire

KIS is run by Serge Crasnianski and the company has diversified into the laundry business, with a division called ‘Revolution’. Revolution is a 24/7 outdoor self-service launderette:

https://en.m.wikipedia.org/wiki/Serge_Crasnianski

Mr Crasnianski, also an alumni of the Sunday Times’ 1,000 Richest People in Britain, now owns 22.5 per cent of the company’s shares.”

https://www.ft.com/content/2352b460-d341-11e6-b06b-680c49b4b4c0

It’s doing well:

Investors piled into photo booths operator Photo-Me after its chief executive bought another big chunk of shares.

Serge Crasnianski spent £4.6 million on shares, taking his stake to above 22%, just four days after he splashed out £3 million on the AIM-listed company’s shares.”

http://www.standard.co.uk/business/market-report-pittards-is-handbagged-by-ethiopian-troubles-a3425961.html

“During the year, the Group paid dividends totalling £18.2m in respect of the interim and final dividend for the year ended 30 April 2015.
The interim dividend for the year ended 30 April 2016 (2.575p per share) declared in December 2015 was paid in May 2016 and amounted
to £9.7m.”

http://investor.photo-me.com/downloads/pdf/ar/Photo-Me%202016_AR_Spreads.pdf

And one rather surprising subsidiary company owned by this company!

“Children’s rides manufactured by Jolly Roger (Amusement Rides) Limited, a subsidiary company in the UK, are produced in accordance with the industry guidance issued by BACTA (British Amusement and Catering Trades Association). “

http://investor.photo-me.com/downloads/pdf/ar/Photo-Me%202016_AR_Spreads.pdf
and
http://www.jolly-roger.co.uk/

Well, he won’t starve if he loses his other part-time job!

2 thoughts on “Swire’s other jobs – which includes advice to a company that owns “Jolly Roger (Amusement Rides) Ltd”!

  1. Not sure what you mean by “he won’t starve if he loses his other part-time job!”

    I assume you are referring to his role as MP which he may well lose in a few days time.

    In which case, please do not suggest that Mr Swine treats his roles as MP as a part-time job. This is a most unfair assertion, and Mr Swine deserves being treated more honestly.

    Hugo Swire is on record as saying that being an MP is NOT A JOB AT ALL and that it is OK to have as many other jobs as you can fit into!!

    So presumably, regardless of whether he is returned as an MP or not, we should assume that he will be taking on several more of these extremely lucrative advisory roles.

    Like

  2. Pingback: Swire: Daily Telegraph had him taped in 2008! | East Devon Watch

Comments are closed.