HC Deb 12 May 1972 vol 836 cc462-5W
Mr. Sydney Chapman

asked the Secretary of State for Trade and Industry if he will make a further statement about the position of the investments transferred to him from the Industrial Reorganisation Corporation.

Mr. Noble:

The list of holdings as at 1st April, 1972, is given below. Separate headings show advances made against outstanding commitments, and invest-

INDUSTRIAL REORGANISATION CORPORATION INVESTMENTS TRANSFERRED TO THE SECRETARY OF STATE FOR TRADE AND INDUSTRY.HOLDING AT 1ST APRIL, 1972
LOANS £
British Leyland Motor Corporation Limited … … 25,000,000 Unsecured Loan.
10,000,000 Unsecured Loan (Note 1).
Clarke Chapman-John Thompson Limited … … 6,000,000 Unsecured Loans.
Harwood Cash and Company Limited … … … 1,200,000 Secured Loan.
Herbert-Ingersoll Limited … … … … 475,000 Unsecured Loan.
Marwin (Holdings) Limited … … … … 750,000 Unsecured Loan.
Nuclear Enterprises Limited … … … … 500,000 Unsecured Loan.
Samuel-Osborn Company Limited … … … 1,750,000 Secured Loan.
The Mills Equipment Company Limited … … 250,000 Secured Loan.
Whessoe Limited … … … … … … 3,500,000 Unsecured Loan.
LOANS CONVERTIBLE INTO EQUITY
Marwin (Holdings) Limited … … … … 750,000 8 per cent. Convertible Loan.
Rolls-Royce Limited … … … … … 10,000,000 Unsecured Convertible Loan
EQUITY AND PREFERENCE SHARES Cost
£
British Nuclear Design and Construction Ltd. 260,000 Ordinary Shares of £1 … 260,000
Brown Bayley Limited … … … … 2,400,000 Ordinary Shares of £1 … See Note(2)
George Kent Limited … … … … 3,017,577 Ordinary Shares of 50p
1,244,180 Deferred Ordinary Shares of 50p … … … … 6,504,861
Herbert Ingersoll Limited … … … 38,250 "A" Ordinary Shares of £1
36,750 "B" Ordinary Shares of £1 525,000
Kearney and Trecker Limited … … … 300,000 Redeemable Convertible Third Preference Shares of £1 … 300,000
Nuclear Enterprises Limited … … … 7,353 "B" Ordinary Shares of £1 … 100,000
Notes:
(1) Machine Tool Facility.
(2) The following investments are held by Brown Bayley Limited:
Brown Bayley Steels Limited … … 2,404,000 Shares of 50p … … 1,470,453
CHANGES DURING THE PERIOD 1ST NOVEMBER, 1971 TO 31ST MARCH, 1972
ADVANCES MADE PURSUANT TO AGREEMENTS MADE BY THE IRC £
Harwood Cash and Company Limited … … … 400,000 Secured Loan.
INVESTMENTS DISPOSED OF LOANS
Allied Textile Companies Limited … … … 500,000 Unsecured Loan.
British Oxygen Company Limited … … … … … 2,500,000 Unsecured Loan.
Chrysler (U.K.) Limited … … 150,000 Unsecured Loan Stock 1981.
Clarke Chapman-John Thompson Limited … … … … … 1,000,000 Unsecured Loan (Part).
Davy-Ashmore Limited … … … … … 600,000 Secured Loan.
The Laird Group Limited … … … … 2,595,000 Secured Loan.
Plessey Numerical Controls Limited … … … 3,000,000 Unsecured Loan.
Qualitex Limited … … … … … … 2,000,000 Unsecured Loan.
Ransome Hoffmann Pollard Limited … … … 3,118,000 Unsecured Loan.
Reed Paper Group Limited … … … … 1,000,000 Unsecured Loan.
Spirella Group Limited … … … … … 900,000 Unsecured Loan.
The Steel Group Limited. … … … … 1,000,000 Unsecured Loan.
The Weir Group Limited … … … … 1,250,000 Unsecured Loan.
LOANS CONVERTIBLE INTO EQUITY
Ransome Hoffmann Pollard Limited. … … … 8,911,004 8 per cent. Convertible Unsecured Loan Stock 1948 (Note 3).
Spirella Group Limited … … … … … 400,000 10 per cent. Convertible Unsecured Loan Stock 1977.

ments disposed of during the period since, 1st November, 1971.

EQUITY AND PREFERENCE SHARES
Chrysler (U.K.) Limited … … … … … 1,512,228 7,561,140 7 per cent. Cumulative Preferred Ordinary Shares of 20p.
The Laird Group Limited … … … … 1,225,208 4,900,830 Ordinary Shares of 25p.
Ransome Hoffmann Pollard Limited … … … 588,911 1,200,000 Deferred Ordinary Shares of 25p (see Note 4)
Notes:
(3) Of which £2,700,000 held by Brown Bayley Ltd
(4) Held by Brown Bayley Ltd.