86101
89001
82008
86401
83012
86213
Home > Become a Shareholder
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86101 |
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89001 |
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82008 |
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86401 |
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83012 |
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86213 |
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Whilst membership of the group goes some way to keeping the locomotives tidy and presentable, if we had relied solely on subscriptions and donations, we would not have got to where we are today. You can help us really go places with our fleet by becoming a Shareholder.
You can purchase £1 shares in our limited company (and thus our locos) either by making a standing order payment of £10 or more per month, or by purchasing shares in a lump sum (minimum initial purchase 200 shares), and can specify which locomotive(s) you wish your funds to be dedicated to *.
More details of the share scheme can be found below; you can download an application form (PDF format), below. Call us on 01467 622855 if you have any questions.
Applicants will receive shares in Electric Traction Ltd, the company set up by The AC Locomotive Group to handle locomotive purchases, certification and main-line operation on its behalf. Electric Traction Ltd is the legal owner of the locomotives listed below (as shown). Electric Traction Ltd has no paid employees or paid Directors at present, and the company will not distribute dividends to shareholders (unless a motion to do so is approved by the shareholders at an AGM or EGM), instead reinvesting any surplus into the locomotives in its fleet. Enthusiast-related publicity for the ACLG-fleet preserved locomotives owned by the company will remain in the name of The AC Locomotive Group.
Electric Traction Ltd is the owner of the following locomotives:
82008 (60% share); 83012; 86101; 86213; 86401; 89001
Our first shareholder project was the 86/87 Project, which aimed to preserve at least one of each class by raising funds through share purchase. Having successfully purchased three class 86s, and with no 87s currently available, the project has arguably reached a plateau and no longer needs to be run as a separate appeal. To this end it has now been incorporated into the general shareholder appeal.
We're still hoping to eventually acquire at least one Class 87 in due course with spares if possible. You can specify if you wish your share purchase contribution to go towards the purchase of an 87.
Our 2006 Class 89 Appeal also raised funds through share sales for the purchase of 89001. Whilst the appeal is now closed, you can still specify for your contributions to go towards the loco's restoration to working order.
All our future locomotive acquisitions will be made through the company and we are keeping our eyes on a number of candidate locomotives: as always the principle aim is ensure that high-quality locomotives are preserved. This is particularly important if main-line running is to be considered; all potential purchases will be assessed on their overall mechanical and electrical condition before paint colour or names are taken into account!
When the AC Locomotive Group formed in 1996, it comprised just six individuals who funded the purchase of 81002, 82008, 83012 and 85101 out of their own pockets. Indeed, for much of the first decade the locomotives remained privately owned by those individuals, who contributed the vast majority of funds for rent, major restoration and maintenance themselves.
Whilst this was convenient and expedient at the time, it was not an ideal situation, because it was neither sensible, nor fair, to have all the risk and responsibility for unique locomotives like ours resting on the shoulders of individuals. In 2006 several of the original owners transferred their ownerships to Electric Traction Ltd - something that had been planned for several years - with the remainder hopefully to follow in due course.
With the 86s bought through Electric Traction in the first place, this puts the majority of the group's fleet under the company's protective banner, and opens up many shared resources such as spares - not to mention the potential for main-line 86 operation income to feed down to the Roarers.
In addition to running ACLG's main line heritage fleet, ETL also undertakes purely commercial activities to bolster its income. Current projects include the creation of a purely commercial locomotive fleet for spot-hire purposes. Again, income from these revenue sources will feed down to the heritage fleet, however it is likely that ETL will take on staff or contractors to run this side of the business.
Other commercial activities include traction consultancy work, graphics and vinyls, digital image manipulation (see Fictitious Liveries for examples) and website provision. ETL's commercial website details these further: www.electric-traction.co.uk.
* The Directors will endeavour to assign funds as indicated by shareholders, however they reserve the right to divert locomotive-specific funds elsewhere, as circumstances dictate, for the overall benefit of the fleet.
** 73138, 81002, the 40% share of 82008, and 85101 are privately owned but in the care of the group. 84001 is owned by the National Railway Museum.
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Last modified: 29 January 2008 10:00:28.
