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This could be something special licensed for bitcoin everything going digital,fintech,sme and all that this could be massive,eight capital partners raising 50 million to become a digital bank I think R8 Capital could be in front of them here.Sorry just thinking outside the box until we find out what redwood plans our could be a number of different things but 100% confident us share holders in at the current price will do well
Hopefully com3s out of suspension next month and positively also
If it comes out 10p plus I will sell half and let the other half ride I got 7,000 worth
Personally I'll be out as new money comes in, all being well.
Gla
When it comes out of suspension, won’t the mid/long term potential be continuing growth, obviously depending on their business model?
Once out of suspension, sell out instantly or let ride and see where the share price might be in the coming years?
Interested to hear anyone’s views?
Perhaps Warrington Council will get a return on their investment after all.
Gla
Check this out
Redwood bank Delighted to have been shortlisted in the Specialist Lender of the Year 2023 cant wait to see what happens here vary exciting if this doesnt open up at least 20pence plus when coming out of suspension I will be amazed
Redwood bank Delighted to have been shortlisted in the Specialist Lender of the Year 2023 cant wait to see what happens here vary exciting if this doesnt open up at least 20pence plus when coming out of suspension I will be amazed
Https://www.bbc.co.uk/news/uk-england-manchester-67171571
Draft report by Chartered Institute of Public Finance and Accountancy will criticise the council's risk assessment of its investments, which include Redwood Bank.
Andy Carter, the Conservative MP for Warrington South, said he was concerned.
"What we've seen... is an increasing desire to move into almost hedge fund opportunities of speculative investments into organisations and businesses that are not based in Warrington," he said.
He said the investments had "promised a great return, but really have not delivered".
"I don't disagree that there are challenges around funding for all local government, [but] the solution is not to borrow £1.8bn and invest it into risky operations," he added.
Tic tock not long before we here something but have a good feeling about this
Https://www.theasset.com/article/50214/metro-bank-saga-throws-uk-neobank-scene-into-relief
Think we all would like a update
I fancy a update today. I am just very impatient 😆
I fancy update this week/early next week :)
We can only hold and await the RNS. Pure guesswork until that red dot appears.
Not easy waiting but at least I can’t get nervous and panic sell my holding.
Hopefully find out by the end of November depending on the legal complexities being ironed out in the background.
Will this open up 10 p +
Maybe next week 😒
Just waiting
All is a bit speculative until we find more info out. Do how think all in around 2p will do well
If they Acquire the bank for 50 million what will that do to the share price ? How much is that likely to push the price upto and would all the current buisness in loans the bank has be added
From Bloomberg today:
https://www.bnnbloomberg.ca/uk-town-yanks-money-from-hedge-fund-burned-by-junk-bond-bets-1.1984261
"Warrington’s finances have long drawn additional scrutiny. Auditors at Grant Thornton only signed off on the council’s accounts for the twelve months ending March 31, 2018 earlier this year. Part of the reason for the delay, according to an audit report reviewed by Bloomberg, was Warrington’s ties to another entity led by Altana founder Lee Robinson.
Robinson, who launched Altana in 2011, achieved financial fame after working for Paul Tudor Jones and correctly timing his short bets on the crash of the US housing market in 2008. The 54-year-old didn’t respond to emails seeking comment.
Warrington has also been a longtime investor in the startup Redwood Bank, where Robinson is a director of its holding company, Redwood Financial Partners Ltd. Auditors at Grant Thornton said the Redwood investment is, in part, what prevented them from signing off on the 2018 accounts until earlier this year.
The audit “has been extremely challenging and protracted for both the council’s finance team and Grant Thornton,” the auditors said in their report. “There were a significant number of issues which have taken a long time to resolve including consideration of a formal objection relating to the council’s investment in Redwood Bank as well as complex accounting transactions relating to the investments in Redwood Bank.”
Warrington spent £32 million for a 33% stake in the bank in 2017. The town has since slashed the value of the holding. This month, R8 Capital Investments Plc said it’s planning to acquire Redwood in a deal that values the bank at roughly £50 million, according to a statement.
“It was a fundamental error of judgment for WBC to become involved with financing a new start-up bank,” Warrington councillor Ken Critchley said in a statement on Tuesday.
The Warrington Council spokesman said Redwood Bank was lending to businesses and stimulating economic growth despite a depressed banking market. A spokeswoman for Redwood declined to comment."
"It is also likely that the Council will have to have the bank revalued again (as at 31 March 2023) when the 2022/23 accounts are finally audited, to ensure any post balance sheet effects are reported."
Would take that with a pinch of salt
Challenger bank having increased profit year on year since conception. Nearly 0.5 billion loan book...
What's interesting is that Warrington Council value the whole business at less than £20m but it is being sold for at least £50m. I'm sure the council didn't pick their valuation out of thin air and was value professionally no doubt by an auditor at one of the big accountancy firms.
This does not look good for a dilution and then rebound in my opinion.
Would just like more info / news for us to get our heads into