145/98
7 September 1998
GEOFFREY ROBINSON ANNOUNCES SMALLER QUOTED COMPANIES WORKING GROUP (SQCs)
Paymaster General Geoffrey Robinson today announced the setting up of a new Working Group aimed at identifying potential barriers to growth of a key group of entrepreneurial publicly-owned smaller companies, crucial to the UK economy.
Under the chairmanship of Derek Riches, Merrill Lynch Broker Services, the Working Group will identify the potential barriers to growth of Smaller Quoted Companies (SQCs) and make recommendations.
Speaking in London to the CBI, Geoffrey Robinson said:
"The UK's smaller quoted company sector is a vital part of the economy - a key driver of the UK's middle market. It is a dynamic source of new wealth and employment and can act as an inspirational target for many ambitious unquoted companies.
"We know from working with many companies in this sector that there are numerous financial and regulatory issues that can cause concern and frustration. These issues can impede their growth and prospects. I am sure that the members of the Group will be able to come forward with ideas which are in the best interests of smaller quoted companies and the wider interests of the UK economy."
The members of the Group are:
| Derek Riches (Chairman) | - Managing Director, Merrill Lynch Broker Services |
|
Brian Basham (Dep Chairman) |
- Chairman, Equity Development Ltd |
| Andrew Baker | - Partner, Wedlake Bell |
| Jamie Borwick | - Chief Executive, Manganese Bronze plc |
| William Dalton | - Chief Executive, Midland Bank plc |
| Cliff Hardcastle | - Chairman, Densitron International plc |
| Chris Higson | - London Business School |
| Richard Kilsby | - Former Executive Director, London Stock Exchange |
| George Metcalfe | - Chairman, UMECO plc |
| Katie Morris | - Chief Executive, CISCO |
| Edwin Moses | - Chief Executive, Oxford Asymmetry International |
| Craig Pickering | - Head of Industry Team, HM Treasury |
The Paymaster has asked the Group to report in the autumn.
NOTES TO EDITORS
1. There are over 2000 smaller quoted companies (SQCs) which are outside the FTSE 350 but make up 85 per cent of all UK quoted companies. These companies employ some 2 million people. In addition, there are a further 6,000 or so middle sized enterprises which are privately owned.