Directors quit Flying Scotsman

Published on Sunday 18 January 2004 00:00

FLYING Scotsman, the OFEX-listed company which owns the famous locomotive of the same name, has parted company with two of its directors.

Finance director Paul Jones and non-executive director and acting chief operating officer Kevin Woods both left the company at the end of last month.

Chief executive Peter Butler said: "Both have left because they were offered other jobs. No decision has yet been taken about whether they will be replaced".

In a statement on OFEX, the junior London market for listed companies, Flying Scotsman said its auditors were "finalising" its interim accounts to June 2003.

Butler added that the board was still contemplating building a visitors centre for the famous steam locomotive on land adjacent to Edinburgh Waverley station.

Flying Scotsman plc had its shares temporarily suspended in November. It has been hit by a refusal by Network Rail to sign off on plans for building the proposed ‘steam village’ at Waverley.

Last month Scotland on Sunday revealed the company was planning to build a smaller centre on land owned solely by Edinburgh City Council.

However, the revised scheme may still not go ahead. The developer lined up to build the centre will charge Flying Scotsman more rent because the company would be the sole tenant.

A final decision over the cost will be taken by Flying Scotsman’s board within weeks.