Investment in Boomerang Plus

Prys ap Sion made this Freedom of Information request to Development Bank of Wales plc

This request has been closed to new correspondence from the public body. Contact us if you think it ought be re-opened.

The request was partially successful.

Dear Finance Wales,

1) Please name the persons who Authorised the purchase of shares in Boomerang Plus?

2)Please state the name of the CEO and members of the Board of Finance Wales when the shares in Boomerang Plus were purchased.

2)Please confirm if the number of shares held is 479,868?

3)What is the current loss to the public at today's share price of 55p?

4)Has Finance Wales stated a minimum value which the shares must NOT drop below and therefore sold?

Yours faithfully,

Prys ap Sion

Beverley Downes,

Dear Mr Sion,

I refer to your email of 9^th July 2011 in which you requested:-

1) Please name the persons who Authorised the purchase of shares in
Boomerang Plus?

2) Please state the name of the CEO and members of the Board of
Finance Wales when the shares in Boomerang Plus were purchased.

2) Please confirm if the number of shares held is 479,868?

3) What is the current loss to the public at today's share price of
55p?

4) Has Finance Wales stated a minimum value which the shares must NOT
drop below and therefore sold?

In response to your request information which can be disclosed has been
provided along with details of any exemptions applied

1. The original investment was made in November 2005 when FW became a
minority shareholder in the private limited company Boomerang Ltd. Finance
Wales investment was transferred into a shareholding in the listed company
as part of the AIM flotation in November 2007.

2. Finance Wales considers the information relating to the CEO and
Board members of Boomerang Plus and number of shares held to be exempt
under section 21 of the Freedom of Information Act as this information is
available from Companies House. Company information can be access via
[1]www.companieshouse.co.uk or by telephoning 0870 33 33 636

3. Finance Wales considers the information relating to the current
value of the shares to be exempt under section 21 of the Freedom of
Information Act as this information may be derived from other sources of
information available from the following sources:

. Companies House (as above) for the annual accounts of Finance
Wales

. Memorandum of Association and annual accounts of Boomerang Plus
plc which is available from [2]www.boomerang.co.uk

4. Finance Wales confirms that no information relating to a minimum
share value is held.

Your request has been considered according to the Freedom of Information
Act 2000 and principles set out in the National Assembly for Wales Code of
Practice on Public Access to Information (third edition) the Code is
published on the internet on [3]www.information.wales.gov.uk.

If you believe that Finance Wales has not applied the Code correctly or
has not followed the relevant legislation please contact me. If you are
still not satisfied you may make a formal complaint to Finance Wales.
Details of Finance Wales complaint procedure are available via e-mail from
[4][Finance Wales request email] or alternatively can be obtained by writing
to:-

Customer Services

Finance Wales

Oakleigh House

Park Place

Cardiff

CF10 3DQ

If you remain dissatisfied with the way that Finance Wales has dealt with
your request you are advised that you have a right to complain to the
Information Commissioner who can be contacted at:-

Information Commissioner's Office,

Wycliffe House,

Water Lane,

Wilmslow,

Cheshire,

SK9 5AF

Yours sincerely

Beverley Downes

Head of Customer Services - Pennaeth Gwasanaethau Cwsmeriaid

+44 (0)7919 324 606

+44 (0)29 2033 8176

[5]www.financewales.co.uk

[6]www.cyllidcymru.co.uk

Ysgrifennwch ataf yng Nghymraeg neu yn Saesneg - Write to me in Welsh or
in English

Finance Wales plc Registered in England and Wales under number 4055414.

Registered Office: Oakleigh House, Park Place, Cardiff, CF10 3DQ

There are a number of subsidiary companies within the Finance Wales Group
details of these companies are available on our website at
[7]www.financewales.co.uk

Cyllid Cymru ccc Cofrestrwyd yng Nghymru a Lloegr dan rif 4055414.

Swyddfa Gofrestredig: Ty Oakleigh, Plas y Parc, Caerdydd, CF10 3DQ

Mae nifer o is-gwmniau o fewn Grwp Cyllid Cymru ac mae manylion y cwmniau
hyn ar gael ar ein gwefan yn [8]www.cyllidcymru.co.uk.

References

Visible links
1. http://www.companieshouse.co.uk/
2. http://www.boomerang.co.uk/
3. http://www.information.wales.gov.uk/
4. mailto:[Finance Wales request email]
5. file:///tmp/www.financewales.co.uk
6. http://www.cyllidcymru.co.uk/
7. blocked::http://www.financewales.co.uk/
http://www.financewales.co.uk/
http://www.financewales.co.uk/
8. file:///tmp/www.cyllidcymru.co.uk