§ Mr. Gryllsasked the Secretary of State for Industry whether he will make a statement on the investment proposals of the National Enterprise Board for the manufacturing of micro-processors;
§ Mr. Kenneth Clarkeasked the Secretary of State for Industry (1) whether the Government, when authorising the National Enterprise Board to spend up to £50 million in investment in a new company to be called K-MOS to manufacture micro-circuit components, authorised the investment of any of that money overseas or the payment overseas of any profits to the other promoters;
(2) what expert advice the Government sought and what consultations they carried out before authorising the National Enterprise Board to spend up to £50 million to acquire voting equity in a new company to be called K-MOS to manufacture micro-circuit components;
(3) whether the consent that he has given under section 10 of the Industry Act 1975 to the National Enterprise Board to allow the board to acquire voting equity in a new company to be called K-MOS to manufacture micro-circuit components will prevent his Department offering selective financial assistance to any other existing company planning new projects in this field.
§ Mr. KaufmanI have nothing at present to add to the reply to my hon. Friend the Under-Secretary of State gave the hon. Member on 13th June.—[Vol. 951, c.389.]
§ Mr. Gryllsasked the Secretary of State for Industry if he will publish in the Official Report a list of the shareholdings held by the National Enterprise Board at 15th June 1978, showing the number and description of the shares, the percentage of total equity held by the National Enterprise Board, the cost of the shareholding and, where appropriate, the market value of the shareholdings at close of business on 15th June 1978.
§ Mr. Les HuckfieldThe replies I gave the hon. Member on 13th February—[Vol. 951, cc. 50–5] and 6th March—[Vol. 945, c. 466) require to be amended as follows to cover investments announced by the NEB up to 15th June 1978: 99W
100W
Company Type of share Number held by NEB Percentage of nominal value of total equity held by NEB Cost (£'000) Stock Exchange Quotation (closing price 15th June) where available Automation and Technical Services (Holdings) Ltd. £1 ordinary 4,000 30.0 4 — £1 redeemable preference 100,000 Not equity — — Barrow Hepburn Group Ltd. 25p ordinary 1,100,000 4.1 450 29p British Leyland Ltd. 50p ordinary 246,490,683 98.9 246,491 23p 50p ordinary (30p paid) 898,063,343 269,419 — Brown Boveri Kent Ltd. 25p ordinary 10,856,585 20.0 3,293 56p The Cambridge Instrument Co. Ltd. 1p ordinary voting 412,684,255 79.7 5,020 — 10p ordinary voting 4,261,757 1p ordinary non-voting 50,000,000 Not equity 500 — Herbert Ltd. 25p ordinary 83,632,948 100.0 36,196 — Hird-Brown Ltd. £1 redeemable preference 250,000 Not equity 250 — ICL Ltd. £1 ordinary 8,148,750 24.4 12,134 300p United Medical Enterprises Ltd.* £1 ordinary 4,619,440 70.0 5,774 — Vicort of London Ltd. £1 convertible redeemable preference 140,000 Not equity 140 — * The NEB's shareholding in United Medical Company Ltd. has been sold to United Medical Enterprises Ltd.