§ Mr. Gryllsasked the Secretary of State for Wales if he will make a statement on the circumstances of the investment by the Welsh Development Agency in the Brigray Group Ltd., of 3,200,000 ordinary shares, costing £160,000 on 9 January 1978; and whether the investment, listed in his reply of 22 February to the hon. Member for Surrey, North-West as having taken place after 3 May 1979 is the same investment.
§ Mr. Nicholas EdwardsThe circumstances of the investment by the WDA in the Brigray Group Ltd. are a matter for the Agency. The original investment made on 9 January 1978 took the form of a convertible loan. The investment in share capital of the company was listed as having taken place after 3 May 1979 because the agency did not exercise its option to convert into equity until 7 January 1980.