§ Mr. Grylls
asked the Secretary of State for Wales what is the number and type of shares, the percentage of the total equity this represents and the cost to public funds of the Welsh Development Agency's investment in Triang Toys; and whether the Industrial Development Advisory Board was consulted on this investment.
§ Mr. Nicholas Edwards
20,000 ordinary and 25,000 preference £1 shares representing 45 per cent. of the equity. The cost to public funds is £195,000 plus a standby loan of £50,000 if needed. I do not consult the Welsh Industrial Development Advisory Board before approving investments by the Welsh Development Agency; it is relevant however that the WIDAB has judged this project viable for the purpose of giving Government assistance under section 7 of the Industry Act 1972.