§ 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. Peter Walker
The list of holdings as at 1st October, 1972 is given below. A separate heading shows the investments disposed of during the period since 1st April, 1972. No advances against outstanding commitments were made during this period.235W
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 (1) George Kent Limited 3,017,577 Ordinary Shares of 50p £6,504,861 1,244,180 Deferred Ordinary Shares of 50p Herbert-Ingersoll Limited (in Receivership) 38,250 "A" Ordinary Shares of £1 £525,000 36,750 "B" Ordinary Shares of £1 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) 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 APRIL, 1972 TO 30TH SEPTEMBER, 1972 Advances made pursuant to Agreements by IRC Nil Investments disposed of Loans British Leyland Motor Corporation Limited £20,000,000 Unsecured Loan (Part) Clarke Chapman-John Thompson Limited £1,000,000 Unsecured Loan (Part) Herbert-Ingersoll Limited £237,500 Unsecured Loan (Part) Mills Equipment Company Limited £250,000 Secured Loan Whessoe Limited £3,500,000 Unsecured Loan Loans Convertible into Equity Rolls-Royce Limited (in Liquidation) £1,500,000 Unsecured Convertible Loan (Interim Dividend of 15 per cent. from the liquidator).