National Enterprise Board (Acquisitions)

HC Deb 09 February 1979 vol 962 cc357-9W

Mr. Grylls

asked the Secretary of State for Industry (1) on what date he gave his consent under section 10 of the Industry Act 1975 for the National Enterprise Board to acquire 100 per cent. of the nominal value of the total equity in Insac Data Systems; what is the number of type of shares acquired; and what was the cost to the Board;

(2) on what date he gave his consent under section 10 of the Industry Act 1975 for the National Enterprise Board to acquire 33.3 per cent. of the nominal value of the total equity in J. & P. Engineering Ltd.; what is the number of type of shares acquired; and what was the cost to the Board;

(3) on what date he gave his consent under section 10 of the Industry Act 1975 for the National Enterprise Board to acquire 100 per cent. of the nominal value of the total equity in Keland Electrics Ltd.; what is the number of type of shares acquired; and what was the cost to the Board;

(4) on what date he gave his consent under section 10 of the Industry Act 1975 for the National Enterprise Board to acquire 33.3 per cent. of the nominal value of the total equity in Mayflower Packaging Ltd.; what is the number of type of shares acquired; and what was the cost to the Board;

(5) on what date he gave his consent under section 10 of the Industry Act 1975 for the National Enterprise Board to acquire 100 per cent. of the nominal value of the total equity in Hurd Brown Ltd.; what is the number of type of shares acquired; and what was the cost to the Board;

(6) on what date he gave his consent under section 10 of the Industry Act 1975 for the National Enterprise Board to acquire 63.1 per cent. of the nominal value of the total equity in Data Recording Co. Ltd.; what is the number of type of shares acquired; and what was the cost to the Board;

(7) on what date he gave his consent under section 10 of the Industry Act 1975 for the National Enterprise Board to acquire 42.9 per cent. of the nominal value of the total equity in Energy Equipment Co. Ltd.; what is the number of type of shares acquired; and what was the cost to the Board;

(8) on what date he gave his consent under section 10 of the Industry Act 1975 for the National Enterprise Board to acquire 70.6 per cent. of the nominal share value of the total equity in Mullard Engineering Co. Ltd.; what is the number of type of shares acquired; and what was the cost to the Board.

Mr. Les Huckfield

My right hon. Friend gave his statutory consent to the Board acquiring 30 per cent. or more of the voting shares in Insac Data Systems Ltd.—then called UK Systems Ltd. —on 23 December, 1976; in J & P Engineering Ltd., on 14 March, 1978; in Keland Electrics Ltd.—then called Blintone Ltd.—on 26 January, 1977; in Mayflower Packaging Ltd., on 11 November, 1977; in Data Recording Instrument Co. Ltd., on 27 May, 1976; in Energy Equipment Ltd., on 17 April, 1978; and in Mollart Engineering Ltd., on 8 February, 1977. I take it that the hon. Member has this company in mind in referring to Mullard Engineering Ltd. The Board's shareholding in Hird-Brown Ltd.—as I informed the hon. Member on 24 January last—is not equity, and my right hon. Friend's statutory consent was not required for its acquisition. In all these cases the number and type of shares and the cost to the Board, are set out in my replies of 24 January and 15 November last to the hon. Member.