John Towers (businessman) Nick Stephenson and John Edwards, Towers formed Phoenix Venture Holdings (PVH) which bought Rover Group for £10 in April 2000. In addition they also bought the Studley Castle, a conference hotel. They subsequently purchased Midland Powertrain, MG Rover's engine plant from BMW for £20. Finally, for £50 along with an undisclosed sum from the Royal Bank of Scotland, they purchased Rover Capital, (now MG Rover Capital) a book of Rover car loans. Kevin Howe was appointed MG Rover's Managing Director in July 2000. In April 2005, MG Rover went into administration, following the collapse of takeover talks with Shanghai Automotive
Nick Gain the first ever punk-rock performance in the festival. In 2008, he performed in front of 28 million spectators as the opening act for the "Melodi Grand Prix" Scandinavia music contest and also took part in the "Starbuck's worldwide red project for aids in Africa" in 2009. He has composed for Anonymous, Trilobeats and Nick Gain. He decided to get into dance music when he was living in Barcelona to find a personal sound/identity to express his visions. Nick composes, produces and mixes his own music. "Born in the 80’s"<ref name="Listen/Download"></ref> is Nick’s first auto-produced EP. Five songs which have received