West Somerset Railway General Discussion

More speculation. It is highly likely that the WSRA already have the funds. However there is nothing wrong with a combined effort between the WSEA and 4110 ltd. in fact there could be significant tax advantages. Do try to keep up.

 

An interesting possibility. I have trawled through the WSRA site but can find no mention of this action. What is the source of the information please.

 

Could you explain what these advantages are, with respect to the WSRA buying shares in the 4110 ltd company.
I'm not sufficiently versed in charity law to see what these are.
Thanks.

 

Wrong again as far as income stream is concerned. The income from commercial activities such the ballast operations and WSR restorations is year round. The rest is nonsense.

 

Not speculation. This is exactly what the latest announcement from 4110 Ltd states.Do try to keep up.

It’s pure speculation to suggest WSRA already have the funds, and this doesn’t seem to be backed up by the latest developments.

 

By “It is highly likely that ...” do you mean “I know for a fact... “ or “I am engaging in more speculation?”

Tom

 

WSRA Board Minutes 181218 https://www.wsra.org.uk/documents/
EDIT:- I now see the 'redacted' version. It was in the first posting on the WSRA's document page, with quite a bit of yellow highlighted throughout, which is the version that I had downloaded.

 

Your interpretation is misleading. AIUI the WSRA and 4110 Ltd have agreed an effectively joint bid. Of course the WSRA is always raising funds. That does not mean they don’t have significant cash reserves simply that additional funds are always welcome. It makes sense to make a combined effort rather than two competing ones. Plonk!

 

Is it just me or do others think that the removal of a single contributor to this thread would change the whole atmosphere for the better?

 

I can’t find any sign either..

 

Because they have removed the original post and placed the redacted version up. I still have a copy of the first posting.
Edit- in the redacted version they do state under Restructuring
to the need to consider our future requirements as we focus on
fundraising and exit commercial operations

 

I was asking for a link to the "WSR pictures website", which was a name that I did not recognise. It was provided by

 

Dear supporter of locomotive 4110 (The People’s Engine!)

You will be aware that the WSRA has been raising funds towards the purchase of 4110, to date they have made good progress but not yet reached a figure sufficient to make a viable bid. Representatives of GWR4110 Ltd have been engaged in discussions with the WSRA to explore ways to ensure that 4110 can still be secured for long term use on the WSR as a team effort.
The outcome of these discussions involves the WSRA becoming a part shareholder in GWR4110 Ltd using the funds donated to them for 4110. We have previously decided that no one shareholder can hold more that 20% of the total subscribed share capital, this will include the WSRA.
The WSR plc needs to use the sale of the locomotive to raise some capital. Their imminent need means that time is very short. We have intentionally not asked for your money until we have been sure that we have sufficient funds to meet the WSR plc’s asking price. Provided the pledges already made remain valid, when combined with a WSRA purchase of shares, GWR4110 Ltd has a viable bid to secure the locomotive, and the WSR plc has confirmed this.
As of today we are not yet able to receive your funds but we would very much like you to confirm that your pledge is still active. Please will you reply to this email as soon as possible to advise if this is still the case, if not then we would still prefer to know. Provided we have a satisfactory overall response we will progress as quickly as possible.
Of course if you are able to increase your pledge by an extra amount to ensure that we have enough money then we would be very grateful, but do please let us know the revised amount.

The Directors of GWR4110 Ltd.
25th January 2019.

 

But there won't be commercial operations to generate income ......

 

Now that is what I call a result!

Common Sense Prevails at last and interesting to note that NO Shareholder can own more than 20% of the company - a very sensible arrangement.

 

I hope not after all this trauma!

 

Because they didn't have the money?

 

Why not ask @alfort direct how much money the WSRA have raised against the 4110 appeal? - he willingly provided the information to me last Monday, but be prepared to be surprised!

 

With respect the WSRA being involved did appear a tad competitive - at last common sense appears to now prevail!