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Go Ahead Group Bid

EDM number 394 in 1996-97, proposed by DN Campbell-Savours on 14/01/1997.

That this House notes that the Stock Exchange Surveillance Department has received information in the form of details regarding the working relationship between a group of British Rail managers and senior representatives of the Go Ahead Group; believes that this relationship enabled price-sensitive confidential and privileged information to be made available to the Go Ahead Group in contravention of rules which should have been followed in the franchising of Regional Railways North East Activities; questions why OPRAF have not been reprimanded by Ministers when they are clearly implicated in failing to enforce the code of practice for in-house bidders; understands that the Stock Exchange is seeking to establish why shares in Go Ahead rose from 361 pence on 15th November to 511 pence on 8th January a 41 per cent increase in particular with Go Ahead directors and other personnel holding information they should not have had, were able to leak price-sensitive information for use in share speculation; believes that this privileged access to information in the accounts of Regional Railways North East was used to convince those prepared to speculate that Go Ahead were more likely than other bidders to take over the network; questions why British Rail personnel leaked such information; and calls upon Ministers to make a full statement to Parliament on this major public scandal.

This motion has been signed by a total of 36 MPs.

MPDateConstituencyPartyType
Dale Campbell-Savours14/01/1997WorkingtonProposed
Hugh Bayley15/01/1997York, City ofSeconded
Alan Meale15/01/1997MansfieldSeconded
Eric Clarke15/01/1997MidlothianSeconded
Paddy Tipping15/01/1997SherwoodSeconded
Gerry Steinberg15/01/1997Durham, City ofSeconded
Brian Jenkins15/01/1997Staffordshire South EastSigned
Lynne Jones15/01/1997Birmingham, Selly OakSigned
Ken Livingstone15/01/1997Brent EastSigned
Jean Corston15/01/1997Bristol EastSigned
Andrew Faulds15/01/1997Warley EastSigned
John Gunnell15/01/1997Leeds South and MorleySigned
Harry Barnes15/01/1997North East DerbyshireSigned
Norman Godman16/01/1997Greenock and Port GlasgowSigned
Tony Banks16/01/1997Newham North WestSigned
Neil Gerrard16/01/1997WalthamstowSigned
Bill Michie16/01/1997Sheffield, HeeleySigned
Alan Simpson16/01/1997Nottingham SouthSigned
Colin Pickthall16/01/1997West LancashireSigned
David Clelland16/01/1997Tyne BridgeSigned
Dennis Skinner17/01/1997BolsoverSigned
Jeremy Corbyn17/01/1997Islington NorthSigned
Rachel Squire20/01/1997Dunfermline WestSigned
Elfyn Llwyd20/01/1997Meirionnydd Nant ConwySigned
Eddie Loyden20/01/1997Liverpool, GarstonSigned
Michael Connarty21/01/1997Falkirk EastSigned
Jack Thompson21/01/1997WansbeckSigned
Jimmy Dunnachie21/01/1997Glasgow, PollokSigned
Ian Davidson21/01/1997Glasgow, GovanSigned
Terry Rooney21/01/1997Bradford NorthSigned
Richard Burden22/01/1997Birmingham, NorthfieldSigned
Michael Clapham23/01/1997Barnsley West & PenistoneSigned
Ann Clwyd23/01/1997Cynon ValleySigned
Bill Etherington23/01/1997Sunderland NorthSigned
Martyn Jones30/01/1997Clwyd South WestSigned
Nigel Jones06/02/1997CheltenhamSigned

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