§ Mr. Douglas
asked the Secretary of State for Energy what have been the obligations in law upon him as sole shareholder which he has met before the issuing of the prospectus for Britoil.
§ Mr. John Moore
I am advised that shareholders as such have no legal obligations to discharge before a prospectus is issued.
§ Mr. Hannam
asked the Secretary of State for Energy if he will give the results of the recent offer for sale of shares in Britoil.
§ Mr. Lawson
Further to my statement today, the following applications were received:
Sale of shares in Britoil Size of applications (in shares) No. of applications No. of shares Public 100–2,000 *35,424 22,633,200 Over 2,000–10,000 133 773,000 Over 10,000–50,000 104 2,771,500 Over 50,000–500,000 75 14,680,000 Over 500,000 16 28,550,000 Total 35,752 69,407,700 Employees Pink preferential applications 276 170,100 Purchase applications 180,658 Free shares matching 1,229 purchased shares 180,658 Free shares 1,822 49,194 Total 580,610 * Of which 32,100 were striking price applications.