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22Oct92 UK: BROACKES AND PARKER READY TO QUIT TRAFALGAR HOUSE.

Trafalgar House was expected to confirm earlier this week that chairman Sir Nigel Broackes and chief executive Sir Eric Parker would be stepping down.The new chairman is understood to be Alan Clements, former finance director of ICI and a non-executive director of Trafalgar House since 1980. Allan Gormly, previously chairman of the group's engineering division, is understood to be taking over as chief executive.The shake-up follows the acquisition of 14.9 per cent stake in Trafalgar House by property group HongKong Land which is seeking a seat on the conglomerate's board.Last week, Trafalgar House said it had been obliged to restate its 1991 accounts. This will reduce the £122.4 million pre-tax profit which it originally reported for the year ending September 1991 to £19.7 million.The change follows a review into the group's results by the new accounting standards body, the Financial Reporting Review Panel. It means Trafalgar House will show a property write-down of £102.7 million, originally written off against reserves.