Share Prospectus 4 Reopened Spring 2017!
One of MCR’s principal aims, the movement of freight by rail from the Cauldon Lowe Quarries, was forced to be place “on hold” due to the involvement of the Mergers & Monopolies Commission with the recently merged quarry owners. Whilst this matter was resolved, MCR turned their attention to another of their objectives, that of getting a rail service back into the area’s principal town – Leek. Disapointingly the Council chose to reject the plans in April 2016, and so MCR returned to their primary aim of re-opening the Stoke - Cauldon line for freight.
Because of the close connections between the two railway companies, Churnet Valley Railway would be the first to benefit from MCR extending its lines the short distance into Leek and the establishment of a suitably sized station building on the outskirts of the town, something which is now being developed through alternative means.
Protracted negotiations between MCR and Network Rail continue regarding the Stoke line, which when concluded will give MCR the opportunity to purchase the Stoke branch in its entirety. As part of these discussions MCR has already obtained agreement for CVR to run a limited number of heritage trains (steam and diesel) to Endon, ahead of the line’s purchase, but all subject to the Network Rail/MCR contract being signed and HMRI approving the line for heritage services.
As a separate issue, but under the banner of the CVR share issue 4, the Churnet Valley Railway purchased the trackwork that is in situ between Leek Brook Junction and Ipstones, which was owned by MCR but will ultimately require replacement with modern heavy rail when MCR secures a freight contract with which ever company eventually owns the quarry at Cauldon. This was achieved by re-opening Share Issue 4 in summer 2014, and the purchase was succesfully completed in Autumn 2016, giving the CVR the chance to further support and take a stake in this expansion of the rail network within the Staffordshire Moorlands, as well as protect our current running rights over the branch and our highly popular Cauldon branch services.
Then in May 2017 a one-off offer was received from Staffordshire County Council, offering the CVR the chance to buy out the lease from Cheddleton Station for £50,000. To cover the cost of purchase and urgent repairs to the building, Share Issue 4 was once again re-opened for a 3-month period - this being the deadline given by the Council to complete the purchase.
Shares cost £1 each, minimum purchase £100. As well as a range of benefits and travel concessions, shareholders may also qualify for 30% tax relief on investments over £500 under the Government’s Enterprise Investment Scheme.
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