Following the conclusion of a series of deals earlier in the month, on 30 July 1969 The Beatles transferred their shares in NEMS to Triumph Investment Trust.
The band and the trust had been locked into negotiations since Brian Epstein’s family sold their NEMS shares to the trust in February 1969, which gave them a controlling interest and temporarily locked up the band’s recording royalties.
The Beatles agreed to pay Triumph around £300,000 in cash, which equalled NEMS’s share of the frozen royalties. Triumph also agreed to receive £800,000 in order for NEMS to forgo any royalty claims for the next three years. Their stake in The Beatles would then reduce to 5% until the contract expired in 1976.
The Beatles also bought Triumph’s 23% share in Subafilms Ltd for £50,000, and surrendered their 10% NEMS holding in exchange for 266,000 Triumph shares, valued at around £420,000.
That process was finalised on this day. The Beatles each surrendered 2,450 shares, each valued at one shilling, in Nemperor Holdings Ltd. In return, they each received 30,779 Triumph shares, worth five shillings each.