A T Hopkins
06 Dec 2017
Re: RNS 3rd Financial Update Con me once (Torotrak) makes me a fool for believing in them and their spin. Con me twice (Flybrid) makes me an even bigger fool for believing in them and their spin. Goodbye to any further "investment" in the stock market by yours truly.
fyoz
06 Dec 2017
Re: RNS 3rd Financial Update "should to be put into administration."Even the proof reader can't be @rsed anymore . . .
Meneage
06 Dec 2017
Re: RNS 3rd Financial Update They appear to be winding down in the run up to Christmas.
onemanandhisdog
05 Dec 2017
RNS 3rd Financial Update Can this get much worse?RNS Number : 4833YTorotrak PLC05 December 2017 THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN. Torotrak plc("Torotrak" or the "Company"
Update on financial position Torotrak plc, a developer and supplier of emissions reduction and fuel efficiency technology for vehicles, announces that, further to the announcements on 28 November 2017 and 1 December 2017, the Board has received notification that Mr Jonathan Hilton and Mr Douglas Cross have filed an application for administration for Flybrid Automotive Limited. The application is listed for hearing on 15 December 2017.The Board will be meeting with its administration advisers in the morning to consider if any value can be generated from its assets or whether the Company should to be put into administration.The Company will make further announcements in due course.Torotrak plcAdam Robson, Chief Executive / Rex Vevers, Finance Director
John of Groats
03 Dec 2017
Re: RNS Financial update Diblake,It's nearly five years since TRK bought Motorsport Components to provide "additional in-house, high-precision manufacturing capability". For years they had been trying to find a Tier 1 to adopt their technology without success. I thought that they had bitten the bullet and were going to go into manufacturing themselves. Looking back over their failure to pursuade major auto manufacturers to incorporate the technology - Toyota, GM, Ford, Jaguar, Volvo - it seems obvious they needed to find a small scale manufacturer to modify vehicles for sale or do it themselves. I wonder if they ever talked to Morgan.
johnymccarthy
02 Dec 2017
Re: RNS 2nd Financial Update Quote from recent RNS Torotrak plc, a developer and supplier of emissions reduction and fuel efficiency technology for vehicles.Someone having a laugh!!!!!!!!!!!!!!!!!!
pseudosphere
30 Nov 2017
Allison Do Allison Transmissions still retain their substantial shareholding - I haven't spotted an RNS to the contrary? The company is currently a small cash-shell, pretty much a zombie but perhaps still currently attractive for the right price and the market listing - cash is greater than market capitalisation, even after the Flybrid liability. Surprised that old Bull hasn't bought an extra 100 million shares at these 'bargain basement' prices! Torotrak may still own 2 buses (Optare and Wrightbus) and a Renault Clio, so could probably set up as a local transport firm, if they could be bothered. But Torotrak have been shafted thoroughly by Flybrid, who never managed to deliver when it mattered and probable screwed up any chance of working again with either Nissan or Renault not to mention Volvo.The vultures are circling but the Flybrid boys will still be able to afford new yachts, lamborghinis and mansions.
fyoz
30 Nov 2017
Re: RNS Financial update Got to agree there. Get an old bin lorry (does it get more stop-start than that?), fit it out with IVT and a flywheel KERS, lend it to a local authority and ask them to monitor fuel consumptionThat is what should have happened x years agoIt's truly scandalous that past and present directors of this company couldn't or wouldn't get their kit in something trundling around out there
pi4
30 Nov 2017
Re: RNS Financial update Diblake, you should have been the CEO.Pi
diblake
29 Nov 2017
Re: RNS Financial update Thank you for that information pseudosphere, the current directors must be hacked off with Hilton and Cross who have plainly been biding their time and choosing their moment to stick the knife in! If this company is essentially dormant and has £3.7 million in hand then it can sit a while longer. If we have £2 million after setting aside H & C's money, surely we can find some young engineering entrepreneurs who would like the chance to demonstrate an ivt in a light commercial vehicle? Lend them £100k, to buy a used trannie van and get a basic ivt in it. Then set about show the commercial world the benefits of ivt, something the previous freeloaders on the Board spectacularly failed to do. IVT needs business minded people whose priority is to SELL to anybody and everybody. The public simply don't know that ivt exists, a shocking indictment of the ineptitude of the greedy ineffectual salary men.
pseudosphere
29 Nov 2017
Re: RNS Financial update Correction to previous post: should have said July 2020.
pseudosphere
29 Nov 2017
Re: RNS Financial update The £1.8m loan note is not legally repayable before July 2029, as specified in previous TRK RNS and annual reports.. Immediate repayment. without prior shareholder approval, could result in the prosecution of all TRK directors involved and the potential of them being barred from being a director of any UK listed company, for up to 15 years. If this condition was imposed but then broken, then they could be subject to up to two years in prison![link]
onemanandhisdog
29 Nov 2017
RNS Holding in Company Looks like Aviva and subsidiaries have dumped just over half of their shares.[link]
PrideofPendle
29 Nov 2017
Re: RNS Financial update This might actually be a non-cash attempt by Hilton and Cross to not necessarily get back Flybrid Automotive Ltd, but the intellectual property owned by it or at least some key aspects of it.
theprior
28 Nov 2017
Re: Going Bust Thanks for the clarification TXTP
