§ Mr. Robert Taylorasked the Secretary of State for Wales on what date he was informed of the appointment of the receiver for the Penrad Group Ltd.
§ Mr. John MorrisThe receiver was in fact appointed by me and the Midland Bank Ltd. on 23rd May 1977.
§ Mr. Robert Taylorasked the Secretary of State for Wales whether he will revise his estimate of the value of the Government investment in Penrad Ltd. at £533,000 as given to the hon. Member for 135W Croydon, North-West on 26th May 1977, in view of the fact that a receiver was appointed for the group on 23rd May 1977.
§ Mr. John MorrisThe figure of £533,000 given in my reply of 26th May was calculated on the normal basis for arriving at a present-day value of the funds made available to the company in 1975 and 1976. If the hon. Member has in mind the sum it is expected to realise in view of the appointment of the receiver, this cannot yet be assessed at this early juncture.