HC Deb 26 November 1975 vol 901 cc193-5W
Mr. Stanley

asked the Secretary of State for Industry, whether he will list:

(a) the current shareholdings of the National Enterprise Board, and

DEPARTMENT OF INDUSTRY: SHAREHOLDING AS AT 31ST OCTOBER 1975
Company Shares held Cost Market value(NQ=not quoted) Proportion of issued share capital
£ £ Per cent.
Appledore Shipbuilders Ltd. 150,000 £1 Ordinary Shares Note (1) NQ 100
Beagle Aircraft Ltd. (in liquidation). 1,000,000 £1 Ordinary Shares 1,142,000 NQ 100
British Leyland Ltd. 246,484,390 50p Ordinary Shares 246,484,390 86,269,536 95
Brown Boveri Kent Ltd. 4,261,757 25p Ordinary Shares Note (2) 1,065,439 12.27
Cable & Wireless Ltd. 3 £1 Ordinary Shares Note (3) NQ Negligible
Cambridge Instrument Co. Ltd. 4,261,757 10p Ordinary Shares Note (2) NQ 25.7
37,684,255 1p Ordinary Shares 1,250,000
Cammell Laird Shipbuilders Ltd. 1,500,000 £1 Ordinary Shares 1,500,000 NQ 22.83
Dunford & Elliott Ltd. 271,357 25p Ordinary Shares Note (5) 111,256 2.59
Ferranti Ltd. 4,000,000 50p Ordinary Shares 8,666,666 NQ 50.6
2,666,666 50p Ordinary Shares (Restricted voting).
Govan Shipbuilders Ltd. 10,000,000 £1 Ordinary Shares 10,000,000 NQ 100
International Computers (Holdings) Ltd. 3,500,000 £1 Ordinary Shares 3,500,000 2,170,000 10.49
Kearney & Trecker Marwin Ltd. 235,000 £1 Redeemable Convertible "A" Third Preference Shares. 235,000 NQ 2.45 Note (4)
KTM Machine Tools (Holdings) Ltd. 338,141 £1 Ordinary Shares 4,949,241 NQ 77.8 Note (4)
950,000 £1 Redeemable Convertible "A" Preference Shares.
3,222,200 £1 Redeemable "B" Preference Shares.
Marathon Shipbuilding Co. (U.K.) Ltd. 20,000 6% Redeemable Non-cumulative £100 Preference Shares. 2,000,000 NQ 51.28
Norton Villiers Triumph Ltd. 3,500,000 £1 "A" Redeemable Preference Shares. 4,872,000 NQ 47.5
1,372,000 £1 "B" Redeemable Convertible Preference Shares.
North East Coast Ship Repairers Ltd. 1,800,000 £1 Ordinary Shares Note(1) NQ 73.47
Nuclear Enterprises Ltd. 7,353 £1 "B" Ordinary Shares 100,000 NQ 4.2
Rolls Royce (1971) Ltd. 123,000,000 £1 Ordinary Shares 123,000,000 NQ 100
SB (Realisations) Ltd. 42,050 £1 5% Redeemable Cumulative Preference Shares. 1,472,183 NQ 100
581,302 25p Ordinary Shares
250,000 25p "A" Ordinary Shares.
Sunderland Shipbuilders Ltd. 7,000,000 £1 Ordinary Stock Units. 7,000,000 NQ 100
2,750,000 £1 Ordinary Stock Units. Note (1)
1,312,500 £1 Cumulative 4.2 Preference Shares.

(b) the current shareholdings of his Department other than those of the National Enterprise Board, giving in each case the number of shares held, their acquisition cost, their estimated current or market value, and the percentage of issued share capital they represent.

Mr. Kaufman

No transfer of shareholdings to the National Enterprise Board has yet taken place. The Department's current shareholdings are listed below. The value of quoted securities is based on the market quotation on 24th November. Estimated values of unquoted holdings cannot be given.

Company Shares held Cost Market value(NQ=not quoted) Proportion of issued share capital
£ £ Per cent.
Triang Pedigree Ltd. 25,000 £1 Ordinary Shares 1,025,000 NQ 95
1,000,000 £1 Redeemable Preference Shares.
Upper Clyde Shipbuilders Ltd. (in liquidation). 875,000 £1 Ordinary Shares 3,875,000 NQ 48.4
12 000,000 25p Ordinary Shares

Notes:

  1. (1) The shipbuilding, ship repairing and associated interests of Court Line were purchased as a group for £16,000,000 and no values were attributed to the companies individually.
  2. (2) These holdings derive from the Industrial Reorganisation Corporation's interests in George Kent Ltd. which were acquired by the IRC at a cost of £6,504,861.
  3. (3) of the remainder of the total issued capital of 30,000,000 £1 Ordinary Shares, two are held by Treasury officials and the remainder by Treasury Solicitor. Most of these were purchased at a cost of 23s. 6d. per share.
  4. (4) KTM (Holdings) owns 88 per cent. of the issued share capital of Kearney & Trecker Marwin.
  5. (5) These shares together with £1m. in loan stocks were issued by Dunford & Elliott in exchange for the Department's shareholding in Brown Bayley Steels. This was acquired originally by the IRC for £992,953.

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