Saturday, 6 May 2017

GWSR ‘Broadway the last mile’ share issue closes with great success on 30 April 2017!

GWSR ‘Broadway the last mile’ share issue closes with great success on 30 April 2017!

Dear Supporters of the GWSR,

I am delighted to be able to tell you that, with the final share applications counted and the last donations to the Trust (GWRT) banked, the share issue closed at £1,330,000!

Yes! That’s £80,000 over the £1,250,000 we were seeking!


This extra cash will be very welcome because, as you are aware, the Broadway embankment is going to cost about 4 times what we estimated when publishing the Share Issue Document. But with this extra money and the normal generous support from the Trust we are in good shape to keep our commitment to all our supporters to open to Broadway on 30 March 2018!

You will doubtless be pleased to know that the Broadway embankment remedial work is now in process and likely to last 12 weeks. The successful contractor in our bidding process was George Law Limited who, as you will remember, was the prime contractor for the bridges in 2014 – that seems a very long time ago, so much positive has happened since then!

Meanwhile the Permanent Way team are busy laying track northwards, and the Station group are busy with the many tasks needed to be completed before opening. The heritage station roof being constructed by our own Steam Loco department is nearly completed and ready for trial assembly at Toddington, after which it will be shipped to Broadway where the station building is almost ready to accept it.

These are exciting times and there is no slack in our volunteers’ construction timetables but thanks to your generous support they have the means to get the job done.

Do please use your shareholder ticket vouchers and visit the railway soon.

Finally, we will now go back to HMRC and seek their confirmation that our share issue is, as they advised us at the outset and then rescinded, acceptable for Enterprise Investment Scheme tax relief – watch this space! I am not giving up on this.

All good wishes,

Chris Bristow

GWSR PLC Finance Director