The taxpayer has benefited by nearly £600 million to date from the public-private partnership (PPP) sale of part of the Government’s stake in QinetiQ. Throughout the period of Spending Reviews 2002 and 2004 the Ministry of Defence retained approximately £250 million from the initial PPP transaction with Carlyle (2003) and a further £250 million from the Initial Public Offering (February 2006) for reinvestment in the defence programme.
The value of the Government's remaining 19.3 per cent. stake in QinetiQ is dependent on the share price. At close of trading on the London Stock Exchange on 10 October 2006, at a share price of 178 pence, the Government's 124,885,445 shares were worth some £222 million.
QinetiQ's involvement in the Metrix consortium is an operational matter for the company; questions should be referred to the chief executive at the following address:
Cody Technology Park
Hampshire GU14 OLX
There is no requirement for QinetiQ to seek the Government's approval for any such investment.