Key Developments: Torotrak PLC (TRK.L)

TRK.L on London Stock Exchange

30 Mar 2015
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Latest Key Developments (Source: Significant Developments)

Torotrak plc announces appointment of CEO
2:02am EDT 

Torotrak plc:Appoints Adam Robson as CEO, effective April 13.Says Robson succeeds Jeremy Deering who announced in Nov. his intention to step down as Chief Executive.  Full Article

Torotrak Plc announces resignation of Chief Executive Officer
Monday, 19 Jan 2015 04:09am EST 

Torotrak Plc:Confirms that Jeremy Deering, Chief Executive, will resign his position on or before May 31.This intention was described in company's half year report issued in Nov. 2014, since which time Jeremy has been providing continuing support as part of an orderly hand over whilst Board identifies an appropriate successor.  Full Article

Torotrak PLC announces Chairman stepping down
Wednesday, 5 Nov 2014 02:00am EST 

Torotrak PLC:Says John Weston, Chairman, has stepped down as Chairman and is being replaced by Nick Barter, currently senior independent director.John will remain on board as senior non-executive director.  Full Article

Torotrak PLC announces technology strategy board funding for Excavator Project in collaboration with JCB
Tuesday, 22 Apr 2014 02:01am EDT 

Torotrak PLC:Says award of funding from the UK's innovation agency, the Technology Strategy Board, to work in a co-funded consortium including JCB, on an off-highway vehicle project.Says award has been made under the Advanced Propulsion Centre initiative, which is designed to advance the development and manufacture of new, low carbon vehicle technologies in the UK.Total project value is 7.3 mln pounds divided among the consortium members, with an anticipated 3.3 mln in funding from the Technology Strategy Board.Says the 30 month project is expected to commence in mid-2014 and will focus on maximising efficiency of an excavator by modifying hydraulic power delivery system and using mechanical energy recovery technology.Says it expects to receive funding of at least 1.1 mln to develop Flybrid technology for an excavator application.Says Advanced Propulsion Centre, the consortium plans to significantly reduce fuel consumption and total CO2 emissions for JCB's future excavator products.Says working with JCB on this project which takes the Flybrid energy recovery technology through a product development programme, targeting a production-ready design for the off-highway market.Mechanical energy storage technology is ideally suited to off-highway applications, and will offer cost-effective way to reduce emissions and fuel consumption in heavy duty-cycle vehicles such as excavators.Says this new project will be an ideal follow-on to utilise this knowledge in a new market.  Full Article

Torotrak plc announces Flybrid KERS to be integrated into manual gearbox in lotus-led consortium
Wednesday, 26 Feb 2014 09:16am EST 

Torotrak plc:Award of Technology Strategy Board grant to develop new application of Flybrid KERS technology for integration into a manual gearbox, in collaboration with lead technology partner Lotus Cars Limited.Project is valued at 4.3 mln Euro to Consortium members and will be part-funded by the Technology Strategy Board grant, with a value of works undertaken by the Group directly of about 0.7 mln Euro.  Full Article

Torotrak plc to acquire remaining 80 pct stake in Flybrid and to place shares
Friday, 13 Dec 2013 02:00am EST 

Torotrak plc:Says it has entered into an acquisition agreement to acquire, subject to the shareholder approval, the remaining 80 percent of the issued ordinary shares in Flybrid for a maximum consideration of up to 23.0 million pounds, of which 15.0 million pounds is subject to performance targets.Says the integration of Flybrid and Torotrak provides the platform for a joint development and launch of M-KERS as the company continues to take greater control of routes to market for its technology.Says it has conditionally raised funds of 16.0 million pounds (before expenses) by way of an equity fundraising of an aggregate of 88,888,888 new ordinary shares at an issue price of 18 pence per share.Says the issue will comprise a Firm Placing, a Placing and Open Offer and a Subscription by Allison Transmission, Inc.  Full Article

BRIEF-Torotrak confirms CEO to resign on or before May 31

* Jeremy Deering, chief executive, will resign his position on or before May 31, 2015 Source text for Eikon: Further company coverage:

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