HC Deb 06 July 1971 vol 820 c339W
Mr. Douglas

asked the Secretary of State for Trade and Industry if he will give details of the valuations of equity shares held by the Government in Scottish firms.

Mr. Ridley

Following is the information on the Government's shareholdings in companies with registered offices in Scotland:

  1. (i) Nuclear Enterprises Ltd. 7,353 B ordinary £1 shares subscribed for by the I.R.C. at a cost of £100,000 and now transferred to the Government. These shares are valued at cost as the shares are not quoted.
  2. (ii) Upper Clyde Shipbuilders Ltd. 875,000 £1 ordinary shares are held by the Government. These were acquired when U.C.S. was formed in exchange for 540,000 £1 shares, acquired at par, held by the Government in Fairfields (Glasgow) Ltd. The Shipbuilding Industry Board also hold 12 million 5s. "A" shares in U.C.S., acquired at par in August, 1969. No valuation can be placed on these shares in present circumstances.