Friday 10 January 2014

Flybrid’s Hilton now a Torotrak director

Torotrak plc, which has helped pioneer the continuously variable transmission (see also Forbes Perry – Obituary) has confirmed Jon Hilton as commercial director

Hilton’s appointment follows completion of the acquisition of Flybrid Automotive Limited, the placing, subscription and the open offer announced on 8 January 2014.

Torotrak, which describes itself as “a leading developer and supplier of emissions reduction and fuel efficiency technology for vehicles”, has confirmed also that Hilton has joined the board of directors.

Meanwhile, Douglas Cross, who co-founded Flybrid automotive with Hilton, has been appointed chief technology officer Cross created Flybrid's clutched gear transmission.

In addition, Gary Wilson has stepped down as executive director for engineering and programme delivery.

Following completion of the transaction, Torotrak has declared Hilton now holds 5,485,893 ordinary shares or 2.00 per cent, while Cross holds 2,351,097 ordinary shares or 0.86 per cent. These shareholdings reflect the two individuals’ investment levels in Flybrid Automotive.

Jeremy Deering, Torotrak’s chief executive officer now holds 917,541 ordinary shares or 0.33 per cent.                          

1 comment:

Anonymous said...

Looks like a reverse takeover or an opportunity for Torotrak to go into production (finally) with another company's product. Don't hold your breath.