FIVE bosses of Scottish rail engineering business Relayfast may well get indfalls of up to ten times their investments from the 1996 privatisation from a sale expected to be announced next week.

Director Fred Saunders' £50,000 investment could be worth as much as £500,000, commercial manager Hugh Harvie's £33,000 could grow to £330,000 and managers John Kay, Brian Shaw and John Urquhart could each see £28,000 increase to £280,000.

Relayfast lays track in Scotland and the West of England, was bought from British Rail by its management last year .

Relayfast lost 50pc of its track relaying contracts in a re-tendering exercise with Railtrack in January and was put up for sale.

Relayfast has a convoluted 3 type share structure.But the £1 ordinary shares, one-third of which are owned by the five managers, rise in value disproportionately to the price paid for the company.

A rise of £500,000 from last year's £19.2m valuation would produce a £1 rise in each ordinary share.

Companies House show Relayfast, which has a turnover of £60m and employs 750 people, is structured with £8m of equity and about £11m of debt.

Most of the equity is preference stock owned by venture capitalists led by Hambro European Ventures. Some £170,000 of Hambro's £4m investment was in ordinary shares.