To ask the Chancellor of the Exchequer if he will update his answer to the hon. Member for Conventry, South-East (Mr. Nellist) on 14 November 1990, Official Report, column 150, as to the number of individual shareholders retaining shares in each of the concerns privatised since 1979.
The table shows the number of shareholdings in each of the companies privatised since 1979. Where Her Majesty's Government retained a shareholding on privatisation, together with the size and date of any subsequent share disposals, this has also been shown.
Size of share register
| ||||||
Company
| Date of privatisation
| Initial
| Highest since privatisation
| Current
| Proportion of shares retained by HMG Per cent.
| Proportion and dates of subsequent disposals
|
| Jaguar | July 1984 | 125,000 | 64,126 (November 1984) | Owned by Ford | 4nil | |
| BT | November 1984 | 2,139,520 | 1,649,722 (30 November 1985) | 2,931,570 (1 February 1992) | 49·8 | 0·8 per cent/December 1987: 27·5 per cent/.November 1991 |
| British Gas | December 1986 | 4,407,079 | 3,112,000 (30 April 1987) | 2,285,325 (31 March 1991) | 3·3 | 1·6 per cent/.January 1990:1·6 per cent./July 1990 |
| British Airways | February 1987 | 1,200,000 | 450,000 (July 1987) | 314,039 (15 May 1990) | 2·5 | 1 per cent./June 1987: 1 per cent./March 1990 |
| Rolls-Royce | May 1987 | 1,988,966 | 925,000 (December 1987) | 738,659 (31 December 1989) | 0·4 | 0·4 per cent. sold during 1987 |
| BAA | July 1987 | 2,187,500 | 1,350,000 (November 1987) | 798,643 (1 June 1990) | 4·36 | 1·42 per cent./August 1990 |
| British Steel | December 1988 | 650,553 | 419,727 (1 April 1989) | 318,025 (23 August 1990) | 0·05 | 0·04 per cent. disposed of during 1989. On 12 November 1990 HMG held about 0·002 per cent. |
| Water and Sewerage Companies | December 1989 | 52,650,000 | 61,318,352 (June 1990) | 61,106,564 (27 June 1991) | 1·62 | |
| Regional Electricity Companies | December 1990 | 512,750,000 | n.a. | 63,400,000 (20 September 1991) | n.a. | |
| Generating Companies | March 1991 | 71,910,000 | n.a. | 61,700,000 (January 1992) | 40 | |
| Scottish Electricity Companies | June 1991 | 81,840,00 | n.a. | 62,100,000 (January 1992) | 3·5 | |
Notes:
1 For single company privatisations, these figures are not an exact guide to the number of shareholders because some shareholdings are held jointly in more than one name.
2 Her Majesty's Government obtained a majority holding in 1914 but this never reached 100 per cent. The 1977 sale is shown as the first disposal of recent times.
3 These proportions do not sum to 51 per cent. because of rights issues.
4 Subsidiary of BL plc.
5 The offer allowed for holdings by individuals in any or all of the companies in the offer and therefore holders may appear on more than one register.
6 Shareholders may appear on the register of more than one company.
7 The offer required public applicants to apply for shares in both companies.
8 The offer required non-customer public applicants to apply for shares in both companies.