HC Deb 30 November 1972 vol 847 cc234-5W
Mr. Sydney Chapman

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 from the Industrial Reorganisation Corporation.

Mr. Peter Walker

The list of holdings as at 1st October, 1972 is given below. A separate heading shows the investments disposed of during the period since 1st April, 1972. No advances against outstanding commitments were made during this period.

Equity and Preference Shares Cost
British Nuclear Design and Construction Ltd. 260,000 Ordinary Shares of £1 £260,000
Brown Bayley Limited 2,400,000 Ordinary Shares of £1 See Note (1)
George Kent Limited 3,017,577 Ordinary Shares of 50p £6,504,861
1,244,180 Deferred Ordinary Shares of 50p
Herbert-Ingersoll Limited (in Receivership) 38,250 "A" Ordinary Shares of £1 £525,000
36,750 "B" Ordinary Shares of £1
Kearney and 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
Notes
(1) The following investments are held by Brown Bayley Limited:—
Brown Bayley Steels Limited 2,404,000 Shares of 50p £1,470,453

CHANGES DURING THE PERIOD 1ST APRIL, 1972 TO 30TH SEPTEMBER, 1972
Advances made pursuant to Agreements by IRC
Nil
Investments disposed of
Loans
British Leyland Motor Corporation Limited £20,000,000 Unsecured Loan (Part)
Clarke Chapman-John Thompson Limited £1,000,000 Unsecured Loan (Part)
Herbert-Ingersoll Limited £237,500 Unsecured Loan (Part)
Mills Equipment Company Limited £250,000 Secured Loan
Whessoe Limited £3,500,000 Unsecured Loan
Loans Convertible into Equity
Rolls-Royce Limited (in Liquidation) £1,500,000 Unsecured Convertible Loan (Interim Dividend of 15 per cent. from the liquidator).