SINCLAIR Research has passed the first hurdle in the planned sale of shares in the company. It has passed the preliminary audit commissioned by the merchant bankers, N M Rothschild, and the sale is expected in the autumn.

Rothschild is arranging the final details, which are likely to involve selling to chosen City institutions 10 percent of the company. It is expected to raise at least £10 million, which would put a valuation of £100 million on Sinclair Research but the figure raised could be £20 million.