Dartmouth line becomes private limited company

Approval has been given for the Dart Valley Railway plc to re-register as a private limited company. The decision, taken at a general meeting in November, opens the way to more flexible trading of shares.

Some 29% of ordinary shares are currently held by Jeremy Hosking, who could now acquire more without triggering a mandatory offer for the remainder, which would have been the case under the old rules. A statement made on behalf of Mr Hosking, who supported the resolutions placed before shareholders, indicated that if they were passed “he contemplates increasing his investment in the company and… continuing to support the company’s preservation initiatives.”

The DVR plc runs the Dartmouth Steam Railway.