HC Deb 25 June 1973 vol 858 cc245-6W
Mr. Tope

asked the Secretary of State for Trade and Industry how many shares are currently held by the Goverment in International Computers Limited.

Mr. Chataway

ICL is a wholly-owned subsidiary of International Computers (Holdings) Ltd. The Government hold 3.5 million £1 ordinary shares in IC(H), representing 10.49 per cent. of the total issued share capital.

Mr. Tope

asked the Secretary of State for Trade and Industry how much Government money has been invested in International Computers Limited since January 1969.

Mr. Chataway

In the broad sense of the term, Government investment in the International Computers (Holdings) Ltd. group since January 1969 totals approximately £30 million. This is made up of the £3.15 million balance of the purchase price of the Government's £3.5 million shareholding acquired under the 1968 computers merger scheme; the remaining £9.5 million of the £13.5 million grant towards the research and development expenditure of the group also provided under the 1968 arrangements; the £14.2 million for further research and development support which I announced last July; and about £3.1 million paid and committed under various cost-shared development contracts placed since January 1969.