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47124

registered interest
date	07/04/2014
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, what due diligence was undertaken by officials in his Department in relation to the reliability of the gentlemen's agreement on the holding of Royal Mail shares by priority investors.
tabling member constituency	Streatham
tabling member printed	Mr Chuka Umunna
uin	195593
answer	answer is ministerial correction date of answer 29/04/2014 answer text <p>There was no agreement - gentleman's or otherwise – on the holding of Royal Mail shares by priority investors.</p> answering member constituency Sevenoaks answering member printed Michael Fallon question first answered 29/04/2014 12:00:00 answering member 88 label Biography information for Sir Michael Fallon
tabling member	4128 label Biography information for Chuka Umunna

47125

registered interest
date	07/04/2014
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, what safeguards were (a) sought and (b) put in place to ensure that priority investors would continue to invest over a longer period of time in respect of the privatisation of Royal Mail.
tabling member constituency	Streatham
tabling member printed	Mr Chuka Umunna
uin	195594
answer	answer is ministerial correction date of answer 29/04/2014 answer text <p>More than 500 would-be investors in Royal Mail were approached in the lead up to the sale including potential long term institutional investors.</p><p> </p><p>As is standard practice for any flotation, we did not seek to lock in any investors in as they would have paid less for a stock they could not trade.</p><p> </p><p>We understand that the majority of the shares, other than those owned by government, the Royal Mail workforce and retail investors, are currently held by long term institutional investors.</p><p> </p> answering member constituency Sevenoaks answering member printed Michael Fallon question first answered 29/04/2014 12:00:00 answering member 88 label Biography information for Sir Michael Fallon
tabling member	4128 label Biography information for Chuka Umunna

47127

registered interest
date	07/04/2014
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, pursuant to the Answer to Lord Adonis of 3 June 2013, Official Report, House of Lords, column 122WA, on government departments: secondments, of those secondments to his Department listed on that date, how many of these secondments related (a) wholly, (b) partly and (c) incidentally to the privatisation of Royal Mail; and how many of those secondments took place primarily for the purpose of helping with the privatisation of Royal Mail.
tabling member constituency	Streatham
tabling member printed	Mr Chuka Umunna
uin	195632
answer	answer is ministerial correction date of answer 29/04/2014 answer text <p>Of the secondees listed in the answer given to the noble Lord, Lord Adonis on 3 June 2013, two worked on the Royal Mail privatisation in the Shareholder Executive.</p> answering member constituency Sevenoaks answering member printed Michael Fallon question first answered 29/04/2014 12:00:00 answering member 88 label Biography information for Sir Michael Fallon
tabling member	4128 label Biography information for Chuka Umunna

47128

registered interest
date	07/04/2014
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, how many secondments from the private sector to his Department and its agencies the secondee's work-related (a) wholly, (b) partly or (c) incidentally to the privatisation of Royal Mail; from which firms those secondments were made; and on what dates they began and ended.
tabling member constituency	Streatham
tabling member printed	Mr Chuka Umunna
uin	195633
answer	answer is ministerial correction date of answer 29/04/2014 answer text <p>In the Shareholder Executive teams are put together to work on specific projects bringing together appropriate skills and experience; such teams regularly include secondee appointments. Three secondees from Freshfields Bruckhaus Deringer, Lazard and KPMG spent varying degrees of time working at the Shareholder Executive on the Royal Mail IPO. The Freshfields secondee worked on various projects, and worked wholly on the Royal Mail privatisation for the second half of the secondment. The Lazard and KPMG secondees were engaged to work principally on Royal Mail. No secondee held a senior position in the team.</p><p> </p><p>The KPMG secondment started in June 2013 and is continuing. The Freshfields secondment started in December 2012 and ended in November 2013. The Lazard secondment ran from January 2013 to January 2014.</p><p> </p> answering member constituency Sevenoaks answering member printed Michael Fallon question first answered 29/04/2014 12:00:00 answering member 88 label Biography information for Sir Michael Fallon
tabling member	4128 label Biography information for Chuka Umunna

46828

registered interest
date	03/04/2014
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, what incentives were (a) offered to (b) accepted by priority investors in relation to Royal Mail privatisation.
tabling member constituency	Streatham
tabling member printed	Mr Chuka Umunna
uin	195211
answer	answer is ministerial correction date of answer 28/04/2014 answer text <p>No incentives were offered to priority investors.</p> answering member constituency Sevenoaks answering member printed Michael Fallon question first answered 28/04/2014 12:00:00 answering member 88 label Biography information for Sir Michael Fallon
tabling member	4128 label Biography information for Chuka Umunna