HC Deb 01 June 1981 vol 5 cc232-3W
30. Mr. Deakins

asked the Secretary of State for Trade if he has had any meetings with the chairman of the Takeover Panel, the chairman of the Council for the Securities Industry and the chairman of the Stock Exchange concerning the report of the inspectors on St. Piran Ltd.; and if he will make a statement.

Mr. Eyre

I refer the hon. Member to the answer given earlier today by my right hon. Friend to the right hon. Member for Battersea, North (Mr. Jay).

38. Mr. Anderson

asked the Secretary of State for Trade if he will reconsider his decision not to petition for the winding-up of St. Piran Ltd.

Mr. Eyre

No. I arranged for the inspectors' report to be published very quickly to coincide with the offer of 50p for its shares (now increased to 60p) on behalf of Gasco Investments Ltd. I did not accept the inspectors' advice to petition for the company's winding up because I considered that that was a decision best left to the shareholders themselves. One shareholder has now filed a petition, and in the light of that I do not consider it desirable to comment on the substance of a matter which may soon fall to be considered by the court.