§ Mr. Grylls
asked the Secretary of State for Industry how much public money has been committed to Data Recording Instrument Company by the NEB and the NRDC (a) by means of loans, (b) by subscribing to equity and (c) by acquisition of shares from either other shareholders or by the purchase by the NEB of shares, from the NRDC; and if he will give from them the amounts for each separately.
§ Mr. Les Huckfield
It is not the normal practice of the NRDC to disclose loans that it makes. The NRDC holds 1.2 million shares bought at different times at undisclosed prices. The NEB has announced that it has subscribed for 2 million new £1 shares at par, and has bought 400,000 shares from existing shareholders. I understand that the price for the latter shares was also £1 each. In addition, the company has been lent £500,000 by my Department under Section 8 of the Industry Act 1972.