X1305M105
CHORUS MOTORS PLC COM NPV
Chorus Motors has trading number, but it does not trade because there is no market maker. Chorus is really about to become very valuable..."about" as measured in years. It owns the vast majority of Wheel Tug (WT). WT is putting electric motors in the nose wheels of 737s and later A320s. In 2020 it will likely apply to the FAA to certify the WT system.
By saving much time at the gate and saving jet engine wear and a few other virtues, WT will save the airlines a great deal of money. The savings will likely be enough to radically change the profit picture of airlines that fly a plane several times a day.
BOREALIS owns much of Chorus. It is in the process of going private and all its assets will be held under Borealis Holdings (BH). A share of BOREF can be traded for Borealis Holdings.
Sometime next year BH will be traded on a "private exchange" only. Later, Chorus Motors and WT likely also will be traded this way.
So Chorus will not go back to being publically traded. But effective ownership in it and WT may still be accessed by buying BOREF on the pink sheets and exchanging it sometime in future years for BH. When WT reaches significant positive cash flow, maybe in 5 years, dividends are likely to be paid to WT, Chorus and BH. So one would want to do any exchange of BOREF to BH before then so as not to miss these dividends.
The stated reason for moving these companies private is to avoid needing to announce financial reports publically.
