HC Deb 19 November 1982 vol 32 c316W
Mr. Haynes

asked the Secretary of State for Energy (1) whether it was at his request that an announcement of the arrangements for, and timing of, the sale of shares in Britoil was made at the end of the ITN "News at One" programme on 16 November;

(2) whether he has requested the broadcasting authorities to make any announcement on the air relating to the arrangements for the sale of Britoil shares.

Mr. John Moore


Mr. Rowlands

asked the Secretary of State for Energy whether he will list the principal underwriters and sub-underwriters and their respective proportions of the underwriting of his Britoil issue.

Mr. John Moore

The Britoil issue has been underwritten by S. G. Warburg & Co. Ltd., N. M. Rothschild & Sons Ltd., Baring Brothers & Co. Ltd., Kleinwort, Benson Ltd., Morgan Grenfell & Co. Ltd. and J. Henry Schroder Wagg & Co. Ltd. They share their underwriting obligations jointly and severally.

The sub-underwriting arrangements are a matter for the underwriters. I understand that the sub-underwriting has been placed in the United Kingdom market in the normal way.