§ Mr. Macleanasked the Secretary of State for Energy if he is able to make any further announcements concerning the privatisation of Enterprise Oil.
§ Mr. Peter Walker[pursuant to his reply, 13 June 1984, c. 471.]: I have agreed the terms for the offer for sale of my shareholding in Enterprise Oil. The offer will be made by tender. The sale of 212,000,000 shares has been underwritten at a minimum tender price of 185p. Payment for the shares will be in two instalments, a first instalment of £1 per share payable on application, with the balance payable by 12 September. There will be provision for applications for up to 2,500 shares to be made at the striking price.
The prospectus and application form will be available in the Library from today and to the public on Friday 22 June. The application list will open on Wednesday 27 June and may close at any time there-after. The striking price and basis of allocation will be announced in due course.