§ Mr. Skinner
To ask the Chancellor of the Duchy of Lancaster whether he intends to appoint inspectors under section 432 of the Companies Act to investigate Blue Arrow and the Peter de Savary deal; and if he will make a statement.
§ Mr. Maude
[pursuant to his reply, 20 April 1989, c. 257]: On 26 April Blue Arrow announced that it intended by the middle of May to send to its shareholders a circular dealing with this transaction. The loan facility and its circumstances are principally a matter for Blue Arrow shareholders, but my Department is being kept fully informed and I trust that the company will meet the deadline it has set itself for briefing them. The International stock exchange is concerned with disclosure requirements and it has confirmed to me that it will require a circular which gives full details and a full explanation of the loan facility.