§ Dr. Gilbertasked the Secretary of State for Trade and Industry if he will list his powers to require companies seeking a listing on the London Stock Exchange to publish a forecast of their profits.
§ Dr. Gilbertasked the Secretary of State for Trade and Industry what discussions he has had with officials of the London Stock Exchange about the question of companies obtaining a listing and raising funds by public subscription without making a forecast of their profits.
§ Mr. NobleThe Stock Exchange requires certain information to be given in the prospectuses of listed companies additional to that prescribed in the fourth schedule of the Companies Act, 1948 (which does not call for profit forecasts). I have not had occasion to discuss these arrangements with the Stock Exchange.
§ Dr. Gilbertasked the Secretary of State for Trade and Industry how many companies have raised money on the London Stock Exchange in 1970, 1971, and the first half of 1972 without publishing a forecast of their profits.
§ Mr. NobleInformation about further issues of securities by companies already listed is not readily available, but I understand that there were two cases in 1970 and one in the first half of 1972 in which companies whose shares were being listed for the first time did not publish profit forecasts.