Severn Valley Railway (Holdings) PLC
Severn Valley Railway (Holdings) PLC is a Public Company with a Share Capital, company number 01046274. The Company was incorporated under its original name of Severn Valley Railway (Holdings) Limited on 15 March 1972. It was re-registered as a Public Limited Company (PLC) on 15 March 1982. The Company is commonly referred to within the SVRSevern Valley Railway as "the Holding Company" or "Holdings", and in writing is often abbreviated to SVRSevern Valley Railway(H). A Severn Valley Railway shareholder owns a share of this Company and is entitled to attend the Annual General Meeting. Issued share capital exceeds £10,400,000.
SVRSevern Valley Railway(H) owns the SVRSevern Valley Railway's infrastructure such as lines and stations. It also owns three steam locomotives, four operational diesel locomotives and a number of carriages, and enters into running agreements with operators of other locomotives and rolling stock to be based on the line. It employs the SVRSevern Valley Railway's paid staff, operates the trains, is responsible for safety, and provides contract engineering services. It also operates the line's shops, pubs and refreshment rooms at Bridgnorth, The Engine House, Bewdley and Kidderminster.
The Company is an unlisted company, and its shares are not currently quoted on any trading platform, nor are there any matched bargain facility arrangements. There is currently no secondary market in the shares and shareholders may only sell their shares by way of private bargain if they can themselves find a buyer. It is difficult to obtain reliable information about the secondary value of shares. The 2012 Share Offer document commented that the average price of transactions in the previous year was 45 pence per 100 pence share.
Shareholders can also donate their shares to the Severn Valley Railway Company Limited, Severn Valley Railway Charitable Trust Ltd, one of the SVR preservation groups or to other bodies associated with the railway. Donations to Charities associated with the SVR may attract tax relief.
The SVRSevern Valley Railway Board retains the authority to allot shares when approached from time to time by people interested in subscribing for shares. Since 2007 such ad hoc allotments have averaged approximately £145,000 per year. In addition, SVRSevern Valley Railway(H) periodically makes public share offers for particular projects:
|Year first offered||Amount of offer||Amount raised|
|1972||£150,000||£150,000||Original share offer, fully subscribed at £110,000 with the remainder being issued to Severn Valley Railway Company Limited|
|1983||£300,000||£370,000||Building of Kidderminster Town station|
|1988||£500,000||£500,000||Construction of Bridgnorth boilershop|
|1994||£750,000||£515,000||Freehold of Kidderminster (£450k) plus working capital.|
|2012||£4,000,000||£2,001,391||Overhaul of GWR 4930 Hagley Hall, Bridgnorth Development Project et al. Costs were £89,950.|
|2016||£2,500,000||£2,548,595||Bridgnorth Development Project. Costs were £121,247.|
As the 2020 coronavirus disease (COVID-19) pandemic unfolded the SVRSevern Valley Railway launched its 'Fight Back Fund' appeal for both donations and shares. As of 4 December 2020[update] a further 395,947 shares have been issued during 2020.
Some bodies connected with the SVRSevern Valley Railway maintain shareholdings, taken from the full list of shareholders at 24 June 2016 at Companies House as below, with updates as shown. For subsequent years these are not available online, only on CD-ROM by application.
|Bodies currently associated with the SVRSevern Valley Railway||Shareholding at June 2016||Notes|
|The 2857 Society||714|
|The 75069 Fund|
|Arley Station Fund||100|
|Class 50 Alliance Limited||9,560|
|Coalyard Miniature Railway Model Engineering Society||Thanks to their passengers, the miniature railway have been able to donate funds to the SVRSevern Valley Railway Share Offer for Bridgnorth Station.|
|DTG Trading Limited||15,000|
|Great Western (SVR) Assoc.||1,026|
|Hampton Loade Station Fund||85|
|Highley Station Fund||600|
|Severn Valley Railway Company Limited||1,690,557||See Notes 1 and 2. Severn Valley Railway Company Limited has the largest shareholding, in 2020 it was 17.8% of issued capital (1,807,679 shares).|
|Stanier 8F Locomotive Society||23,810|
|Stanier Mogul Fund||4,286||See Note 1|
|SVRASevern Valley Railway Association South East Branch||15,000||See Note 3. Branch closed|
|SVRASevern Valley Railway Association Stourbridge Branch||500||See Note 3|
|SVRASevern Valley Railway Association Cheshire branch||1,705||See Notes 1 and 3|
|SVR Junior Club||100|
|Severn Valley Railway Charitable Trust Ltd||24,535||See Note 1. In the 2012 Share Offer existing shareholders with small numbers of shares who did not want to increase their shareholding were invited to donate their shares to the Trust. Figure still correct at 30 June 2019.|
|SVRA Wolverhampton Branch||4,640||See Note 3|
|Western Locomotive Association||1,000||Added 2020.|
- Note 1. Two shareholdings are listed. The figure shown is the aggregated figure.
- Note 2. The Severn Valley Railway Association merged with Severn Valley Railway Company Limited from 4 October 2015.
- Note 3. The former SVRASevern Valley Railway Association Branches are now branches of Severn Valley Railway Company Limited.
The list of shareholders at 24 June 2016 also included the following entries:
- Rubery Owen Holdings Limited hold 150,000 shares, arising from an agreement in 1973 which included the rebuilding of the Hollybush Road Footbridge. SVRSevern Valley Railway News reported at the time that the voting rights of those shares were vested in Severn Valley Railway Company Limited.
- The largest private individual's single holding was 390,024 shares and there are no persons with significant control for this company.
Benefits are renewed annually and amended from time to time. As of 2021[update] shareholders are entitled to the following benefits:
|Shareholding||Annual Benefits in operation to 2020||Annual Benefits in operation 2021|
|100 – 224||A voucher for 1 Third Class “Freedom of the Line” ticket||Table of two, one use|
|225 – 399||Vouchers for 2 Third Class “Freedom of the Line” tickets||Table of two, two uses|
|400 – 799||Vouchers for 4 Third Class “Freedom of the Line” tickets||Table of two or compartment of four, four uses|
|800 – 1,199||Vouchers for 4 First Class “Freedom of the Line” tickets||Table of two or compartment of four, eight uses|
|1,200 – 1,799||A non-transferable Silver Pass giving unlimited Third Class travel on the SVRSevern Valley Railway for the holder and up to three guests||Table of two or compartment of four, unlimited uses|
|1,800 – 2,999||A non-transferable Silver Pass giving unlimited First Class travel (when available) on the SVRSevern Valley Railway for the holder and up to three guests||As above|
|3,000 – 5,999||A non-transferable Gold type Medallion and Pass giving unlimited First Class travel (when available) on the SVRSevern Valley Railway for the holder and up to three guests, throughout the period of the shareholding||As above|
|6,000 – 9,999||A non-transferable Gold type Medallion and Pass giving unlimited First Class travel (when available) on the SVRSevern Valley Railway for the holder and up to three guests, throughout the period of the shareholding, plus 4 Sunday Luncheon Vouchers per annum||As above|
|10,000 – 14,999||A non-transferable Gold type Medallion and Pass giving unlimited First Class travel (when available) on the SVRSevern Valley Railway 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||As above|
|15,000 – 29,999||A non-transferable Platinum type Medallion and Pass giving unlimited First Class travel (when available) on the SVRSevern Valley Railway 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||As above|
|30,000 plus||A non-transferable Platinum type Medallion and Pass giving unlimited First Class travel (when available) on the SVRSevern Valley Railway 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.||As above|
- Note 1. Free travel vouchers, Silver, Gold and Platinum medallions & passes are valid for all timetabled trains and for special events denoted as eligible in the annual SVRSevern Valley Railway timetable.
- Note 2. The Directors will review the above entitlements periodically and may from time to time adjust them. The Directors confirmed at the time of the issue of the document on 1 November 2016 that no changes would take place within the next three years. In April 2021, following the COVID-19 pandemic, new benefits were introduced in conjunction with the online booking system, compartments and excursion trains and continuing restrictions.
- Note 3. Shareholders of 3,000 or above shares are entitled to free car parking in SVRSevern Valley Railway car parks and receive an annual windscreen parking pass. Where car parks have exit barriers, shareholders may obtain a free exit token on production of a parking-eligible travel pass at Kidderminster and Bridgnorth ticket offices, shops or at The Railwayman's Arms.
In October 2019 a new Shareholder Travel Pass came into use for the 1,800 eligible passholders, a photo-bearing credit card-sized pass to replace during 2020 the previous version and medallion that were open to abuse. It contains a bar code to monitor usage levels.
Since at least 1975 the Company has given Legal Charges over its land and fixed and floating assets. Companies House lists 17 charges registered, 14 of which are outstanding, in favour of HSBC Bank plc, County Council of Hereford & Worcester (re. Bewdley) and The Trustees of the National Heritage Memorial Fund (HLFHeritage Lottery Fund (National Lottery Heritage Fund from 2019)) (re. The Engine House).
As a condition of Heritage Lottery funding the Company's Articles were amended in December 1997 so that no dividend shall be paid and, in the event of winding up, no surplus shall be distributed to shareholders.
- Companies House
- 2016 Share Offer Document
- 2012 Share Offer prospectus
- SVR Website
- Share capital per Companies House at December 2007 and November 2017 net of two public share offers
- Target, SVRSevern Valley Railway News 110. £515k raised in 17 months, SVRSevern Valley Railway News 116
- Full list of shareholders at 24 June 2016
- Coalyard Miniature Railway news item, SVR website (Retrieved 8 November 2020)
- SVRSevern Valley Railway(H) Financial Statements for the year ended 5 January 2020
- SVRSevern Valley Railway News 30
- SVR Live, Branch Lines November 2019 (Retrieved 9 November 2019)
- SVRSevern Valley Railway(H) letter to passholders November 2019