16-06-2020, 10:44 AM
Prior to 1913 the the Austin Motor Company had been a private company; The Austin Motor Company (1914) Limited was the title given to the new public company. The original directors, Austin, Du Cros and Kayser, received a total of £15,459 for the original company, and in addition each received 250 preference shares and 1 ordinary share in the new company. In addition, Herbert Austin received a five-year contract as chairman and managing director with an annual salary of £3,500 plus 2.5% of the net profits.