Tribe Technology set to deliver healthy pipeline of orders from Tier-One miners. Watch the video here.
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The World remains in the vice grip of a global pandemic and truly believe Boris is just trying to give us Christmas before putting the UK into lockdown yet again, so as to lesson the political blow to him whike saying, "see I gave you Christmas as promised!' His goose is cooked now anyway after yesterdays by-election but I digress...
Throughout both these scenarios (pandemic/lockdown) one sector has suffered the most in terms of revenue and consumer confidence....HOSPITALITY! SO FOR THE LOVE OF GOD, WHY IS RDGC LOOKING TO MOVE INTO THAT SECTOR.
As at today, the Company has approximately £1.7 million of cash. Currently, we are in advanced discussions to invest a significant proportion of our cash resources in a business within the hospitality sector and term sheets are being prepared. If this transaction proceeds the Board expects the hospitality business to seek a listing on the Access segment of the AQSE Growth Market in 2022 and it is currently intended that Ridgecrest's investment will be distributed to shareholders on a pro rata basis. Discussions are at a preliminary stage and there can be no guarantee that a transaction will proceed.
agreed Groover,
hospitality, thats about as good an investment as Laser Discs
I find it highly suspect what has happened here. Isn't it bizarre how they're also making sure it doesn't happen in time to save our investment. FCA of course will do nothing.
Only put £700 in here but still hard to swallow given rises in utilities, fuel and now mortgage rates yesterday. One hit after another for the ENSLAVED in this world.
Actually starting to wonder if the looney conspiracy theorists aren't that looney after all .
I wish my exposure was £700. Hopefully the investment is based on a low valuation given the section and see some sort of growth next year. Although I still don't understand what happens to our investment if RDGC invest in the private company, delist, and the private company doesn't list next year. Any ideas?
Sorry lads looks like the BoD have shafted us here!
I'm as disappointed as you all seem to be with the news so far. The last thing I want is to have to think about (even with my relatively small investment) is to be tied up on some mega sub-prime exchange that just makes shares hard to sell. Don't even get me started on the choice of sector ie: Hospitality!
My thoughts are:
1. They've played a blinder and it will all work out better than we think (I don't believe this for one second)!
2. Why don't the TR1 holders get together to gain the 10% combined shareholding needed to request an EGM to question the whole set up/suggest alternatives (before it is too late, which it may well already be). If thats the case, why haven't they already done this or have they already been persuaded that this is in fact a good deal & in their best interests?
If it's not then they collectively stand to lose quite a lot.
Ashok Patel: 8.41%
D & G Hart: 7.40%
P4 Capital Limited: 5.09%
Edward Peter John Spencer*: 5%
Ken Ford: 4.24%
Paul McKillen: 4.01%
Richard and Charlotte Edwards: 3.6%
Flare Capital Limited: 3.40%
John Mahtani; 3.28%
Edward Andrews: 3.03%
Sarah Louise Spencer*: 3%
No ordinary shares are held in treasury
There are no restrictions on the trading of shares
* Mr and Mrs Spencer have an aggregate interest in 8% of the Company's issued share capital
RNS 18 Nov advised that Flare Capital Limited and P4 Capital Limited do not have notifiable shareholdings in the Company (<3% but probably 0%). How did they managed to dispose shareholding during suspension and to whom? It is worth noting the connections:-
Flare Capital Limited Director Peter Greensmith is also Director of multiple Peterhouse Capital companies. Peterhouse Capital Limited is RDGC Joint Broker.
P4 Capital Limited has many shareholders including Flare Capital Limited, Lucy Williams (who is listed as Peterhouse Capital contact on RDGC RNS) and Guy Miller, another Peterhouse Capital resource listed on other RNSs).
Missed that one BDave.
I would say should be flagged to FCA but they won't do anything. Toothless tiger or just as corrupt as the markets these days. All in all Shocking