Lynton and Barnstaple - Operations and Development

That sounds promising.

 

An interesting idea, perhaps, although this is a little at odds with Exmoor Associates' published ambitions, as outlined on their website FAQs page:

 

That seems to only preclude them acting unilaterally to actually run trains, doesn't seem to put too much of a spanner in the works.

 

Rail bikes?

 

at one of our meetings a couple of years ago a staunch trust supporter asked if we would be prepared to lay some track at snapper to add to the character or the halt,the aims of EA were highlighted by the EA directors and also that funds raised through share sales were for the purchase of trackbed only,the gentleman then asked if a separate pot could be started for donations to lay some track,similar to the pot for volunteer donations,this i believe has been set up and when sufficient funds are in place a length will be laid

 

Here is an example from the narrow gauge Sibiu-Agnita railway in Romania. (Also has links with the Ffestiniog and has difficulty in restoring the route - ie someone fraudulently claimed to have the right to sell the stock for scrap and the volunteers turned up one day to find the scrap men cutting up their coaches).

http://www.sibiuagnitarailway.com/turism_velo.php

 

I gather that some of the UK supporters of the Sibiu - Agnita Railway are not unknown to the L&B, as well as the WHHR and F&WHR - I was pleased to find the name of one supporter who I have met at Cornatel on some of the drawings included in the recent successful planning application for the L&B. For anyone wishing to try the "velodrasine" (or the motor drasine powered by a Trabant engine) there will be a working week in September: https://www.facebook.com/events/1330077627121742/. The week should conclude with steam working between Cornatel and Hosman with a hired-in steam locomotive.

 

That is good to know. The Sibiu project is great and I really wish them success. It is good to see links being forged between the project and railways in the UK.

 

Exmoor Associates update includes detail of the transfer of two trackbed sections to the L&BR; and several photo images taken during the trackwalk from Dean Steep to Bridge 79.

See >>> http://www.exmoor-associates.co.uk/2018/05/transfer-of-ea-trackbed-to-lbr-shareholders-trackwalk/

 

Interesting. The update notes that the transfer was by way of sale (although it does not say whether this was at cost, cost minus or cost plus): one section was sold to the Trust for cash, and one sold in return for surrender of shares in EA by the Trust (this must be the CIC which was the shareholder on file in the last EA return), and by a few supporters (who in doing this must have effectively donated their investment to the Trust/CIC). I have not come across a surrender of shares before. It looks a lot like a share buyback, but presumably permitted if both parties agree. I guess the cash is recycled into further purchases. It is still difficult to understand quite what the purpose of EA is, although they presumably would argue that it is easier for them to move quickly.

 

Precisely. EA's primary aim is land aquisition, although they have diversified into land management, particularly at Snapper, (lets face it, far too tempting not to), but they do not have the burden of having to run a growing railway to divert them from their objectives

 

Can I ask whether it is better to donate to the CIC / Trust or Exmoor Associates?

 

The word "Donation" suggests that you wish to give money rather than to invest money.

The Lynton & Barnstaple Railway Trust is a Registered Charity. Subject to certain constraints, a gift to a charity might be eligible for Gift Aid. A gift of £10.00 to the L&BR Trust thus magically becomes worth £12.50!

Only you can decide whether you prefer to 'give' or to 'invest'...

Mike P

 

The Trust is taking the lead on the current extension project, and the land required for it. EA’s principal focus is on buying land anywhere else on the L&B route, safeguarding it for the future. The choice is yours.

 

Thanks to both- Gift Aid makes that an easier choice!

 

EA's purpose is to purchase trackbed south of Blackmoor gate whilst the trusts purpose is to supposedly concentrate on running the railway and extending back to lynton,i believe,although placed north of Blackmoor, EA actually moved to buy the higher bodley stretch when the trust or cic was unable to,thus proving they are able to move quickly,also EA's existence provides people with an option of how they might invest their money ,it might be a shock to some but not everybody wants to invest at Woody bay,likewise,others want to invest in both. For myself,its a good job that they do exist,simply because they own trackbed just a few miles from Barnstaple and up through the yeo valley which is a lot closer for me to volunteer at rather than a 66 mile round trip to Woody bay

 

Andrew

For the sake of correctness, Exmoor Associates remit is to procure trackbed for the L&BR phase 3 extension between Wistlandpound Reservoir and Pilton as and when the land becomes available for purchase.

And while I'm writing, purchasing EA shares is hardly an investment. The chances of anyone earning a dividend on an EA shareholding are zero. Purchasing Exmoor Associates shares is the means by which the company raises the revenue to procure railway trackbed.

Chris

 

technically,now that the land at bridwick farm has been sold to the trust, EA's remit is to procure trackbed from wistlandpound but it was originally to procure trackbed south of Blackmoor gate station,so i am correct,also,purchasing of EA shares is an investment,whilst,and im sure it states on their website that a dividend is pretty much non existent,any purchaser is in fact becoming a part owner in the trackbed EA owns,im sure the cic shares wont be paying a dividend either

 

I don't really see EA's land management as a diversity - as landowners, it is their responsibility to manage their land effectively, plus it can only help with future acquisitions if potential sellers can see that their land will be carefully and sympathetically managed post-sale.