§ Mr. Denzil Daviesasked the Secretary of State for Defence how much revenue he expects the share flotation of Royal Ordnance plc is likely to yield to the Exchequer.
§ Mr. Norman LamontThe price obtainable will depend on a number of factors, such as the trading record and stock market conditions, at the time of the sale.
§ Mr. Denzil Daviesasked the Secretary of State for Defence whether the prospectus to be issued in line with the Government's intention to privatise the royal ordnance factories will contain a profit forecast for the next financial year.
§ Mr. Norman LamontOn the assumption that a prospectus for Royal Ordnance is issued in mid-1986, a profit forecast for the next financial year would refer to calendar year 1987. It would be most unusual for any company to make a public profit forecast that far ahead and it is not expected that Royal Ordnance would do so.
§ Mr. Denzil Daviesasked the Secretary of State for Defence when he intends to publish the prospectus offering for sale shares in Royal Ordnance plc.
§ Mr. Norman LamontThe Government hope that the sale of Royal Ordnance could take place in mid-1986, but no date has yet been fixed.