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Mr. Grylls
asked the Secretary of State for Industry what proportion of the equity in Thwaites and Reed the NEB intends acquiring; how many shares this entails; what is the cost of this acquisition; and what is the net current asset value of the shares.
Mr. Les Huckfield
The NEB has announced that it has agreed to subscribe for 240,000 ordinary shares in the company at a cost of £240,000, this being equivalent to 90 per cent. of the equity. The net current asset value of the shares is a matter for the NEB and the company.