HC Deb 10 July 1995 vol 263 cc409-10W
Mr. Austin Mitchell

To ask the President of the Board of Trade what were his Department's findings in respect of the care exercised by Mr. James and his colleagues on the main board of Astra in advising shareholders to subscribe to a rights issue for the acquisition of BMARC. [33108]

Mr. Ian Taylor

As the opening paragraphs of the inspectors' report on Astra Holdings plc makes clear, the inspectors were asked to investigate in particular the circumstances surrounding the acquisition by Astra of PRB sa and the rights issue made in that connection. The inspectors also investigated a number of ancillary matters and reviewed the company's accounting policies. In relation to the acquisition by Astra of BMARC, the inspectors' report concentrates on the effect of this acquisition on the results of the Astra group.

Mr. Mitchell

To ask the President of the Board of Trade if he will summarise the findings of his Department's inspectors concerning the manner in which the directors of Astra Holdings had performed its duties. [33050]

Mr. Taylor

I refer the hon. Member to the report of the inspectors on Astra Holdings plc, published by HMSO, ISBN 0115153514, a copy of which was placed in the Library of the House.