New TVR still under wraps! (Vol. 2)
Discussion
Good luck Iain!
LucyP said:
It's never going to happen, as if anyone still believed it would. No one is prepared to fund it, which isn't surprising.
"We’d launched a £25 million bond on the Irish Stock Exchange, but as credit spreads widened in the debt markets due to the uncertainty caused by COVID-19, the uptake hasn’t reached our aspirations."
Is this an actual quote from the directors of TVR? If so, please state the source."We’d launched a £25 million bond on the Irish Stock Exchange, but as credit spreads widened in the debt markets due to the uncertainty caused by COVID-19, the uptake hasn’t reached our aspirations."
TwinKam said:
LucyP said:
It's never going to happen, as if anyone still believed it would. No one is prepared to fund it, which isn't surprising.
"We’d launched a £25 million bond on the Irish Stock Exchange, but as credit spreads widened in the debt markets due to the uncertainty caused by COVID-19, the uptake hasn’t reached our aspirations."
Is this an actual quote from the directors of TVR? If so, please state the source."We’d launched a £25 million bond on the Irish Stock Exchange, but as credit spreads widened in the debt markets due to the uncertainty caused by COVID-19, the uptake hasn’t reached our aspirations."
skwdenyer said:
TwinKam said:
LucyP said:
It's never going to happen, as if anyone still believed it would. No one is prepared to fund it, which isn't surprising.
"We’d launched a £25 million bond on the Irish Stock Exchange, but as credit spreads widened in the debt markets due to the uncertainty caused by COVID-19, the uptake hasn’t reached our aspirations."
Is this an actual quote from the directors of TVR? If so, please state the source."We’d launched a £25 million bond on the Irish Stock Exchange, but as credit spreads widened in the debt markets due to the uncertainty caused by COVID-19, the uptake hasn’t reached our aspirations."
"the national lockdown meant we had to close our offices in Surrey"
Offices where precisely nothing was happening, because there was no money to spend to actually make something happen.
"while the pandemic has also delayed the fitting-out process for our new factory in Wales"
a "factory" where precisely nothing was happening, because there was no money to spend to actually make something happen.
"The new £2 million Fiduciam loan, granted through CBILS, refinances an existing working capital facility that had expired"
As expected, the loan has no effect on the business's day to day actions (or lack of actions in this case), mearly keeps the receiver from the door for a bit longer
"we’re confident we’re now into the final straight to commence manufacturing"
Without a fitted out factory, and with a single, hand assembled prototype, which itself is now fairly old in comparison to the increasingly short life cycle of a modern car i fail to see the "final straight". I'm not entirely sure the green flag has even been waved tbh........
Jon39 said:
rev-erend said:
You must be unlucky, my wife and other older relations have had the jab with no side effects.
You might have not intended to give us the impression Vicar, that you are a 'toy-boy'.
No worries.
and that I'm her toy-boy.N7GTX said:
Someone on PH (General Gassing) has been to the factory site and says there are machines there now. Looks like the Govt is repairing the building so even if TVR don't make it, they can lease it out regardless.
???Most recent I saw was this.
https://www.pistonheads.com/gassing/topic.asp?h=0&...
The article link does confirm what we all expected, that the loan just replaces a previous one.
Les said:
The new £2 million Fiduciam loan, granted through CBILS, refinances an existing working capital facility that had expired
njw1 posted this on Tuesday (9th Feb):
"Well, it would appear that since the weekend things are happening at the factory, I drove past earlier and there were machines on site and a security guard on the gate."
https://www.pistonheads.com/gassing/topic.asp?h=0&...
"Well, it would appear that since the weekend things are happening at the factory, I drove past earlier and there were machines on site and a security guard on the gate."
https://www.pistonheads.com/gassing/topic.asp?h=0&...
m4tti said:
skwdenyer said:
However, if anyone needs a CBIL then give Fiduciam a call 
The outcome of this will be outfits working on reward for the NCA, which will expose CBIL claimants that didn’t actually have an operational business skwdenyer said:
TwinKam said:
LucyP said:
It's never going to happen, as if anyone still believed it would. No one is prepared to fund it, which isn't surprising.
"We’d launched a £25 million bond on the Irish Stock Exchange, but as credit spreads widened in the debt markets due to the uncertainty caused by COVID-19, the uptake hasn’t reached our aspirations."
Is this an actual quote from the directors of TVR? If so, please state the source."We’d launched a £25 million bond on the Irish Stock Exchange, but as credit spreads widened in the debt markets due to the uncertainty caused by COVID-19, the uptake hasn’t reached our aspirations."
Max_Torque said:
Anyone who reads that ^^^ and takes anything Les is says as having the slightest shred of truth needs their head examining!
"the national lockdown meant we had to close our offices in Surrey"
Offices where precisely nothing was happening, because there was no money to spend to actually make something happen.
"while the pandemic has also delayed the fitting-out process for our new factory in Wales"
a "factory" where precisely nothing was happening, because there was no money to spend to actually make something happen.
"The new £2 million Fiduciam loan, granted through CBILS, refinances an existing working capital facility that had expired"
As expected, the loan has no effect on the business's day to day actions (or lack of actions in this case), mearly keeps the receiver from the door for a bit longer
"we’re confident we’re now into the final straight to commence manufacturing"
Without a fitted out factory, and with a single, hand assembled prototype, which itself is now fairly old in comparison to the increasingly short life cycle of a modern car i fail to see the "final straight". I'm not entirely sure the green flag has even been waved tbh........
Someone needed to say this. "the national lockdown meant we had to close our offices in Surrey"
Offices where precisely nothing was happening, because there was no money to spend to actually make something happen.
"while the pandemic has also delayed the fitting-out process for our new factory in Wales"
a "factory" where precisely nothing was happening, because there was no money to spend to actually make something happen.
"The new £2 million Fiduciam loan, granted through CBILS, refinances an existing working capital facility that had expired"
As expected, the loan has no effect on the business's day to day actions (or lack of actions in this case), mearly keeps the receiver from the door for a bit longer
"we’re confident we’re now into the final straight to commence manufacturing"
Without a fitted out factory, and with a single, hand assembled prototype, which itself is now fairly old in comparison to the increasingly short life cycle of a modern car i fail to see the "final straight". I'm not entirely sure the green flag has even been waved tbh........
The hope I presume is that a pension fund or similar that are into higher risk investments would invest without a second thought. Or at least on face value on the ‘prospectus’.
So if the box you ticked when pension planning was for a % to go into high risk then this is the type of venture it may be invested in.
I’m checking my policies tonight and changing them to Ned/low risk in case my pension providers can’t differentiate between ‘high risk’ and ‘throwing away’.
V6 Pushfit said:
The hope I presume is that a pension fund or similar that are into higher risk investments, would invest without a second thought. ......
Higher risk, that's a laugh. It is more of a 'touch with a barge pole' investment.
The 'TVR Roaring Back' document, which Audacia says is not an approved prospectus, has so many no responsibility paragraphs one can hardly believe they are taking the matter seriously.
One of the no responsibility items, describes the document being prepared by the board of TVR, and continues that nothing in the document has been verified.
I notice that Les Edgar states, 'brought Aston Martin back to World Endurance racing'.
I have never ever heard his name mentioned in Aston Martin circles.
David Richards and Prodrive have from the beginning and still are, behind the whole Aston Martin GT racing project, from the DBR9 to this year, which has now changed to supporting customer racing teams.
It appears that the chairman has borrowed more money from Fiduciam using Pisley Farm and Fishfold Farm as security. The amount is not stated but is in the name of TVR Automotive. There are now 5 charges against these properties outstanding.
(Companies House - Heritage Farms Ltd - Charges - created 21 Jan 2021)
Wonder if its another CBILS loan as it just happens to be the same day as the CBILS loan for TVR Automotive?
(Companies House - Heritage Farms Ltd - Charges - created 21 Jan 2021)
Wonder if its another CBILS loan as it just happens to be the same day as the CBILS loan for TVR Automotive?
Edited by N7GTX on Friday 12th February 18:25
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