asked the Paymaster-General whether he will give further details of Her Majesty's Government's majority shareholding in British Petroleum Ltd., and state the percentage which this holding bears to the total issued capital; and whether he will indicate the circumstances in which the voting rights attaching to the preference shares become operative.
§ Mr. Birch
I have been asked to reply.
Her Majesty's Government hold £56,250,000 ordinary stock and £1,000 preference stock. This represents 49.5 per cent. of the total issued capital of British Petroleum Limited and carries with it 55 per cent. of the total voting rights. The voting rights attaching to preference stock become operative in the event of a poll.