Key Developments: Torotrak PLC (TRK.L)

TRK.L on London Stock Exchange

17 Apr 2014
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Latest Key Developments (Source: Significant Developments)

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

Torotrak plc Signs Agreement With Tata Steel Uk Limited, Mira Limited And Productiv Limited To Join UK Government Funded Manufacturing Initiative
Monday, 18 Feb 2013 07:30am EST 

Torotrak plc announced that it has concluded a collaboration agreement with Tata Steel UK Limited, MIRA Limited and Productiv Limited, which are the lead partners in a government-backed initiative to help bring UK low carbon technologies to market. This agreement centres around the creation of The Proving Factory, which allows the Company to benefit from shared development, manufacturing and quality processes. The arrangements allow the Company to benefit from the industrialization provided by the partners as well as enjoy support from grant funding via the Advanced Manufacturing Supply Chain Initiative (AMSCI). The Proving Factory will work with Torotrak to create production-ready, validated design and then take this from prototype and pilot production through to medium volume manufacturing.  Full Article

Torotrak plc Announces Management Change
Friday, 31 Aug 2012 02:02am EDT 

Torotrak plc announced that Dick Elsy is stepping down as Chief Executive Officer (CEO) and will leave the Board of Torotrak and the Company on 28 September 2012. Dick is succeeded by Jeremy Deering, Torotrak's Finance and Commercial Director, who has been appointed as CEO. Jeremy has been with Torotrak since 2006 and has been instrumental in the strategic and commercial development of the Company.  Full Article

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