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SVR-H plc 2016 Share Offer
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hearn_p



Joined: 15 Nov 2003
Posts: 5739
Location: North Somerset

PostPosted: Sun Oct 16, 2016 6:52 pm    Post subject: Reply with quote

You and I can say what we want (Edit - subject to the Social Media Policy)!

The Share prospectus will include the shareholder benefits. I'm sure. I'm not sure whether it can or will give alternatives. I just had in mind a legal document from the PLC directors that might be inferred to say "don't but shares, do this instead" might be against their duty (which is solely to the PLC shareholders)

It will be out very soon now

Regards

Patrick

P.S. The Trust has already made a suggestion http://svrtrust.org.uk/our-projects/bridgnorth-development-project.html
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Graham



Joined: 21 May 2011
Posts: 932
Location: The banks of the River Severn as it meanders through the sun dappled leafy glades of Worcestershire

PostPosted: Sun Oct 16, 2016 7:11 pm    Post subject: Reply with quote

Thanks, I can vaguely remember hearing something about shares from previous offers still being available if requested, but the railway was not allowed to advertise that fact after a certain date which has now passed.
The fact that I have never seen the free travel benefits officially mentioned and that it would be such an obvious selling point got me thinking there must be some similar restriction.
I'll probably buy some shares anyway, as a second turntable is on my personal SVR wish list. Once I've got all the information, I'll put something on the wiki if it will help.
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mrmover



Joined: 31 Jan 2007
Posts: 870
Location: Shropshire

PostPosted: Mon Oct 17, 2016 9:57 am    Post subject: Reply with quote

Shareholder benefits have been widely advised in the past, and when different share issues have been announced, the benefits have been part of the prospectus. Inevitably the levels of benefits have altered over the years, and as advised the levels are subject to review. Until the prospectus is released we can only guess what the benefits will be for new and existing holdings.

The important thing to remember is that this offer is the issue of new shares in the plc, and this effectively dilutes the value of the existing shareholdings. For example, if there are already 2000 shares issued and fully paid up (owned by someone), then each share represents 0.2% of all the railways assets. If the railway then makes a further share offer of 2000 shares, and these are also fully paid up, then each share is only worth 0.1% of the assets.

The numbers are of course much bigger, but it shows an example of how these things work. The railway's articles of association prevent it from paying a dividend to its shareholders, but instead offers free travel in accordance with the review in place by the directors.

Any new offer has to approved by the appropriate legal and financial teams and also underwritten in the event that insufficient applications are made. Yes of course you can make donations directly to the railway or any of it's supporting bodies (indeed a donation to the Trust can be made via Gift Aid), but any such donation is a one off and will bring the giver no benefit other than a feeling of well being at that time. A purchase of shares, on the other hand, is an investment in the railway, and indeed still retains a value - shares can be sold, although the price may not be anything like what they were bought at. If sufficient shares are purchased, it can bring benefits in the form of free travel.

All in all, you pays your money and you takes your choice!
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Divington_R



Joined: 05 Feb 2016
Posts: 226
Location: Nuneaton

PostPosted: Fri Oct 28, 2016 8:58 pm    Post subject: Reply with quote

Not long to go now until launch date.
There is a full page glossy advert in November's Modern Railways.

Regards
Reg.
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tigger



Joined: 23 Aug 2007
Posts: 403
Location: Bridgnorth

PostPosted: Mon Oct 31, 2016 1:56 pm    Post subject: Reply with quote

Tomorrow is the launch of our share offer with all proceeds to be used solely to fund the works at Bridgnorth.

2.5 million shares will be available at a price of £1 each to finance phases one and two.

Phase one
- the construction of a Great Western Railway c1900 style single-storey building to the south of the existing Bridgnorth station building, housing a traditional tea/refreshment room plus new toilet facilities
- the conservation of a unique piece of railway history as the listed station building will undergo repairs and sensitive improvement including an extension of the bar and seating area in the Railwayman’s Arms. the relocation of the shop, and the restoration of the 150 year-old booking hall and waiting room after the shop moves

Phase two
(subject to available funding)
- the installation of a turntable in the locomotive yard which will allow locomotives to be turned in full view of passengers and onlookers-
- the creation of an additional car park, with a one-way system and new exit driveway to Oldbury Road

The Bridgnorth station site extends over 2.86 hectares, from Hollybush Road to Oldbury Road and has considerable historical significance including our grade 2 listed main station building, and Pan Pudding Hill, a Scheduled Ancient Monument.

BBC Radio Shropshire and BBC Midlands Today will be on site to record interviews with the general manager and the stationmaster.
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hearn_p



Joined: 15 Nov 2003
Posts: 5739
Location: North Somerset

PostPosted: Tue Nov 01, 2016 11:21 am    Post subject: Reply with quote

We'll be on today's edition of BBC Midlands Today, talking about our exciting Share Offer, which launched today, to help raise funds to transform Bridgnorth Station.
We'll be featured in the 1.30pm and 6.30pm editions, so keep a look out!

If you missed BBC Shropshire talking about our Share Offer, listen again from 8.23 https://t.co/YBiadW1DMq

Patrick
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geoffsvr



Joined: 26 Apr 2010
Posts: 50

PostPosted: Tue Nov 01, 2016 3:17 pm    Post subject: Reply with quote

I am an existing shareholder and have registered my interest in the new share offer. Will I receive a personalised application form by email? The share offer document I have downloaded appears to have an application form only for non-shareholders.
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hearn_p



Joined: 15 Nov 2003
Posts: 5739
Location: North Somerset

PostPosted: Tue Nov 01, 2016 3:48 pm    Post subject: Reply with quote

I don't know but the website says:

Quote:
If you're an existing shareholder, you should receive by post a Share Offer Document and Application Form in order to take part. If this has not been received by Monday 7th November, please download the Share Offer Document, or request a copy of the Share Offer Document to be sent to you.

For those that are not existing members, you can download the Share Offer document above.


Patrick
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geoffsvr



Joined: 26 Apr 2010
Posts: 50

PostPosted: Tue Nov 01, 2016 6:11 pm    Post subject: Reply with quote

Thank you, I think that explains it, I should receive something in the post. I was a bit confused because when I registered my interest, I'm sure it said something about communication via Email, but I could have just misunderstood.
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michaelh



Joined: 08 Oct 2005
Posts: 919
Location: Droitwich Spa

PostPosted: Tue Nov 01, 2016 6:47 pm    Post subject: Reply with quote

geoffsvr wrote:
Thank you, I think that explains it, I should receive something in the post. I was a bit confused because when I registered my interest, I'm sure it said something about communication via Email, but I could have just misunderstood.


The online Prospectus says that existing shareholders should receive a Prospectus c/w a personalised (presumably pre-populated) Application Form.
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rherin



Joined: 25 Nov 2011
Posts: 13
Location: BIRMINGHAM

PostPosted: Tue Nov 01, 2016 8:12 pm    Post subject: Share offer Reply with quote

I am an existing shareholder, if I purchase these new shares are they added to my existing shareholding in order to calculate the free travel benefits ?
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KJEvans



Joined: 08 Feb 2010
Posts: 1245
Location: Kidderminster or Edinburgh

PostPosted: Tue Nov 01, 2016 8:26 pm    Post subject: Re: Share offer Reply with quote

rherin wrote:
I am an existing shareholder, if I purchase these new shares are they added to my existing shareholding in order to calculate the free travel benefits ?

As far as I'm aware, yes it does add on.
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hearn_p



Joined: 15 Nov 2003
Posts: 5739
Location: North Somerset

PostPosted: Tue Nov 01, 2016 9:55 pm    Post subject: Reply with quote

I'm sure it is, that was what happened last time

Patrick
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mrmover



Joined: 31 Jan 2007
Posts: 870
Location: Shropshire

PostPosted: Wed Nov 02, 2016 8:12 am    Post subject: Reply with quote

hearn_p wrote:
I'm sure it is, that was what happened last time

Patrick
... and the time before and the time before that.

These shares are the same class as the existing shares, so any derived benefit will be as a result of the aggregate holding.
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tigger



Joined: 23 Aug 2007
Posts: 403
Location: Bridgnorth

PostPosted: Wed Nov 02, 2016 10:17 am    Post subject: Reply with quote

Offer Shares
Minimum investment = £100, thereafter in multiples of £25
Closing date = 31 October 2017 (or full subscription of the offer)
Allotment on a rolling basis, with share certificates expected to be despatched within one month of the date of allotment.

Existing shareholders
Complete the personalised share application form.

Shareholder benefits

Each shareholding of between 100 and 1,199 shares will receive travel vouchers. These are allocated annually and are based on the number of shares held at 31 December each year. Travel vouchers are distributed in May of the following year, together with the annual report and accounts.
A shareholding of 1,200 shares or more will receive a travel pass, which will be sent within two months of the issue of shares.

Shareholding = Annual Benefits currently in operation

100-224 = A voucher for 1 Third Class 'Freedom of the Line' ticket

225-399 = Vouchers for 2 Third Class 'Freedom of the Line' tickets

400-799 = Vouchers for 4 Third Class 'Freedom of the Line' tickets

800-1,199 = Vouchers for 4 First Class 'Freedom of the Line' tickets

1,200-1,799 = A non-transferable Silver Pass giving unlimited Third Class travel on the SVR for the holder and up to three guests

1,800-2,999 = A non-transferable Silver Pass giving unlimited First Class travel (when available) on the SVR for the holder and up to three guests

3,000-5,999 = A non-transferable Gold type Medallion and Pass giving unlimited First Class travel (when available) on the SVR for the holder and up to three guests, throughout the period of the shareholding

6,000-9,999 = A non-transferable Gold type Medallion and Pass giving unlimited First Class travel (when available) on the SVR for the holder and up to three guests, throughout the period of the shareholding, 4 Sunday Luncheon Vouchers per annum, plus 10% off Charter Train hire and Footplate Experience Days.

15,000-29,999 = A non-transferable Platinum type Medallion and Pass giving unlimited First Class travel (when available) on the SVR for the holder and up to three guests throughout the period of the shareholding, 10% off Charter Train hire and Footplate Experience Days, plus either a midweek exclusive Observation Saloon charter attached to a service train (for up to 23 people) or 4 Sunday Luncheon vouchers per annum

30,000 plus = A non-transferable Platinum type Medallion and Pass giving unlimited First Class travel (when available) on the SVR for the holder and up to three guests throughout the period of the shareholding, 10% off Charter Train hire and Footplate Experience days, plus either a midweek exclusive Observation Saloon charter attached to a service train (for up to 23 people) or 4 Sunday Luncheon vouchers per annum. Name added to the Roll of Honour board at Bridgnorth Station.

Note 1. Free travel vouchers, Silver, Gold and Platinum medallions and passes are valid for all timetabled trains and for special events denoted as eligible in the annual SVR timetable.
Note 2. The Directors will review the above entitlements periodically and may from time to time adjust them. However the Directors confirm that no changes will take place in the next three years.
Note 3. Shareholders of 3,000 or above shares will be entitled to free car parking in SVR car parks.
Note 4. For shareholders who wish to consider disposing of their shares, these can be donated to the Severn Valley Railway Company Ltd.

Additional incentives for this share offer
For any single share purchase of 1,200 or more shares in this Share Offer, the shareholder and guest will be invited to the Grand Opening of the completion of Phase One of the Bridgnorth Station site development, including arrival via a chartered steam train from Kidderminster and return. This promises to be a very special occasion in the history of the SVR.
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