§ Mr. Gryllsasked the Secretary of State for Industry if the National Enterprise Board is going to subscribe in further equity in Cambridge Instruments Limited, in addition to its 4,261,757 10p ordinary shares; and, if so, what will be the total cost of these new shares.
§ Mr. Les HuckfieldYes. The NEB announced on 8th December that it had agreed to subscribe for 50 million new voting shares at a total cost of £0.5 million, and 50 million new restricted voting shares, also at a total cost of £0.5 million.
§ Mr. Gryllsasked the Secretary of State for Industry what further loan facilities the National Enterprise Board is to provide for Cambridge Instruments Limited; 744W what interest the loan will bear; and when it will be due for repayment.
§ Mr. Les HuckfieldThe NEB announced on 8th December that it would advance £0.5 million to the company in the form of an unsecured subordinated five-year loan, and that for two years it would make available a standby facility of a further £1.5 million. Interest rates are a matter for the NEB to determine within its guidelines.