Jacob Porrett
Established Member
Saw that in Instagram as well. Doesn't really say if or when they will be operating again.
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Varamis Rail Class 321s & 325s”
- Thread starter Jacob Porrett
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RailUK Forums
_toommm_
Established Member
Realtime Trains | 5Z03 1254 Carlisle to Mossend Down Yard | 14/01/2026
Real-time train running information for 5Z03 1254 departure from Carlisle to Mossend Down Yard on 14/01/2026. From Realtime Trains, an independent source of train running info for Great Britain.
www.realtimetrains.co.uk
Trying again today, this time back to mossend
Edit: All moves today were cancelled
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Royston Vasey
Established Member
In December the company resolved to issue up to £1.5 million in New Convertible Loan Notes (a form of borrowing that converts the debt to equity at a future date or on acquisition) as well as the proposed issue of 30,000,000 shares at £0.05 per share, which amounts to a £1.5 million share issue, should they have any takers.
So, moribund but not dead.
Document available from Companies House:
https://find-and-update.company-information.service.gov.uk/company/12038291/filing-history
So, moribund but not dead.
Document available from Companies House:
https://find-and-update.company-information.service.gov.uk/company/12038291/filing-history
Ahh the good old convertible loan financing, also known as “the death spiral.” I give them twelve months, max.
anglian bloke
Member
anybody know what’s bound for the 321s that have been at the royal mail depot / next to Harlesden for months.
themiller
Established Member
But they did escape, briefly, only to return. It’s just a shame that no-one’s been cleaning off the graffiti!
Royston Vasey
Established Member
Two interesting new directors appointed to the company last week, one a Matthew Carter-Brown who is a VP for PJT Partners, an investment bank. And none other than Robin Gisby, the recently departed CEO of DFTO, who also has current directorships of ATOC and RDG, previously directorships of a number of DfT operators (obviously) and the Romney Hythe and Dymchurch Railway (please refrain from any comments about novelty railway operations).
So it would appear that their fundraising was successful, even if they haven't run a revenue earning train in six months.
There is also a document confirming borrowing through convertible loan note financing (can't see a £ figure) which is secured against assets ("including those to be acquired... using the proceeds") namely 5 Class 321 trains, 3 unconverted Class 321 trains and 6 Class 325 trains.
I wonder if we will see an announcement on the purchase or see an actual transfer of those elusive Class 325s soon...
So it would appear that their fundraising was successful, even if they haven't run a revenue earning train in six months.
There is also a document confirming borrowing through convertible loan note financing (can't see a £ figure) which is secured against assets ("including those to be acquired... using the proceeds") namely 5 Class 321 trains, 3 unconverted Class 321 trains and 6 Class 325 trains.
I wonder if we will see an announcement on the purchase or see an actual transfer of those elusive Class 325s soon...
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Skimpot flyer
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Can you share a link to this document? My colleagues within Royal Mail are asking me what’s happening with the old trains still under the roof, inside PRDC
Royston Vasey
Established Member
Yes of course, the document leaves unsaid as much as it says, but the wording regarding Class 325s struck me. The 325s would be a "secured train" as defined on page 4 of the 37 pager filed on 23rd January here:
https://find-and-update.company-information.service.gov.uk/company/12038291/filing-history
Jacob Porrett
Established Member
Funny how apparently the pre-Xmas parcels 2025 was there target to start getting the service running and making money.
Link to the tweet where they say this, https://x.com/RailVaramis/status/2019342828225327197
The post that contains the reply, from yesterday, says:
Jacob Porrett
Established Member
Sound like something in the pipe line then.
Trainman40083
Established Member
I guess that is part anf parcel of the announcement.
Maybe now their business can start expressing itself.
Trainman40083
Established Member
No gold stars for that..maybe a red star
Trainman40083
Established Member
I think we had best packet up
swt_passenger
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Their ‘dedicated rail line’ presumably being the one that’s also dedicated to all the other WCML users…
Skimpot flyer
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Service delayed due to financial engineering works ?
== Doublepost prevention - post automatically merged: ==
I see that one of the graffitied Class 321s that was sat outside PRDC has now gone. Anyone have any idea when and where it was moved?
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440 has always been a spare donor for Varamis, 440 also lacks a pantograph.
That’s 428+429. Should be seeing them myself in about 45 minutes or so as I’m on my way to Carlisle to work 4M48 south!!!
lrbvoyager
Member
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When are the 321s leaving Carlisle, they look like an utter mess.
43096
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It’s a WTT path, so don’t read anything into it about Varamis running something.
Jacob Porrett
Established Member
T
There are two paths in but never run/get cancelled.