HC Deb 15 November 1971 vol 826 cc28-9W
Mr. Tom Boardman

asked the Secretary of State for Trade and Industry if he will make a further statement about the position of the investments transferred to him on 1st May, 1971, from the Industrial Reorganisation Corporation.

Mr. Ridley

The list of holdings as at 1st November is given below. Separate lists show advances made during the six months since advances made during the six months since 1st May against outstanding commitments, and investments disposed of during the period.

Equity and Preference Shares Cost
British Nuclear Design and Construction Limited … 260,000 Ordinary Shares of £1 … … … … £260,000
Brown Bayley Limited … 2,400,000 Ordinary Shares of £1 … … … … See note †
Chrysler (U.K.) Limited … 7,561,140 7 per cent. Cumulative Preferred Ordinary Shares of 20p … … … … … … … £1,512,228
George Kent Limited … 3,017,577 Ordinary Shares of 50p … … … £6,504,861
1,244,180 Deferred Ordinary Shares of 50p
Herbert-Ingersoll Limited 38,250 "A" Ordinary Shares of £1 … … … £525,000
36,750 "B" Ordinary Shares £1
Kearney & Trecker Limited 300,000 Redeemable Convertible Third Preference Shares of £1 … … … … … … … … £300,000
Nuclear Enterprises Limited 7,353 "B" Ordinary Shares of £1 … … … … £100,000
The Laird Group Limited 4,900,830 Ordinary Shares of 25p … … … … £1,225,208
NOTES:—
* Manchine Tool Facility.
† The following investments are held by Brown Bayley Limited:—
Brown Bayley Steels Limited 2,404,000 Shares of 50p … … … … … £1,470,453
Ransome Hoffmann Pollard Limited. £2,700,000 8 per cent. Convertible Unsecured Loan Stock Limited 1984 … … … … … … … … £2,700,000
1,200,000 Deferred Ordinary Shares of 25p … … £588,911
ADVANCES MADE PURSUANT TO AGREEMENTS MADE BY THE IRC 1ST MAY TO 31ST OCTOBER, 1971
British Leyland Motor Corporation Limited … … … £2,500,000 Unsecured Loan Machine Tool Facility
Harwood Cash … … … … … … … £800,000 Secured Loan
Highams Limited … … … … … … … £162,500 Secured Loan
Samuel-Osborn and Company Limited … … … … £750,000 Secured Loan
INVESTMENTS DISPOSED OF 1ST MAY TO 31ST OCTOBER, 1971
Loans
Allied Textile Companies Limited … … … … … £500,000 Unsecured Loan
English Electric Limited … … … … … … £2,500,000 Subordinated Unsecured Loan Stock 1975
Highams Limited … … … … … … … £162,500 Secured Loan
Joseph Lucas (Industries) Limited … … … … … £3,000,000 Unsecured Loan
Reed Paper Group Limited … … … … … £1,200,000 Unsecured Loan
The Bowater Paper Corporation Limited … … … … £1,000,000 Unsecured Loan
Equity
Ransome Hoffman Pollard Limited … … … … £131,927 155,000 Ordinary shares of 25p