§ Mr. Sydney Chapmanasked 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 WalkerThe 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.
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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).