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Thwaits And Reed Ltd

Volume 928: debated on Friday 25 March 1977

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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.

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.