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Railtrack shareholders to receive payout

Railtrack shareholders will shortly get the first 200p per share payment of a 250-260p liquidation deal, it was announced today.

The money will be paid out on January 10 next year to shareholders registered with Railtrack Group on December 30 2002.

The remaining 50-60p per share will be distributed during 2003.

The 250p-260p payment was first announced earlier this year under the arrangement which saw Railtrack plc come out of administration and be taken over by Network Rail.

Shares in Railtrack were suspended at 280p in October 2001 when the then Transport Secretary Stephen Byers took the decision to seek to place the company in administration.

Shares in Railtrack Group - now known as RT Group plc - are now trading again and will continue to do so until 4.30pm on December 27.

The Private Shareholders Action Group, unhappy with the 250-260p deal, is raising ?2m to bring a court case against the government over its handling of the administration crisis.

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