TRK Torotrak update

[Bhoddhisatva]

One of my worst ever investments .. honestly thought they’d make it but they ran out of road when none of their licencees took it to market and volume production.
Electric vehicles killed it off finally as - apart from Porsche Taycan - they don’t need “gears” or gearboxes.

Anyway just received note that their liquidators now estimate a return to shareholders of £0.0385 per share .. 3.85 p per share is a pleasant surprise having expected zero after they were suspended.

Since they’re in my SIPP not only can I not claim the loss against CGT, but also can’t directly buy drinks or dinner with proceeds!

PS Other major technology (in the traditional sense not dotcom) share I lost on was NXT - New Transducers Ltd …

[slartybartfast]

That's good news ..well sort of. I was advised they were deemed to be of no value and then that there would be a distribution of about 1.62p.
I must admit that II haven't informed me about the latest possible distribution level but if they keep increasing at this rate, I could get my money back.

[Bhoddhisatva]

Today received a slight pleasant surprise about TRK Torotrak:

“The latest progress report was released by the liquidators in June 2022.

The liquidators have stated it is now anticipated that there will be sufficient funds to enable a return to shareholders of approximately GBP0.0506. This is subject to change based on future realisations and expenses.”

So 5p per share. More than I expected!

[BullDog]

Today received a slight pleasant surprise about TRK Torotrak:

“The latest progress report was released by the liquidators in June 2022.

The liquidators have stated it is now anticipated that there will be sufficient funds to enable a return to shareholders of approximately GBP0.0506. This is subject to change based on future realisations and expenses.”

So 5p per share. More than I expected!

Wow, that's a blast from the past. I can remember when nearly every day Torotrak was mentioned in the personal finance section of the Daily Mail. Seems a lifetime ago now. I can't remember the last time I looked at the Daily Mail.