Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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That sounds all or nothing to me. Hopefully Scotty's gone and with Avalon, the loan money and a clean slate they can make a go of it. Energy storage is the hottest topic around at the moment, if they can't do it now they never will.
Fortunately I sold for personal reasons in May last year and never saw the right moment to come back. Recently into Bushveld [sadly that's no recommendation, "I'm lost too!"] so saw the connection with RedT from that side. I'm not sure that Bushveld shows any sign of wanting to own VRFB manufacturers, but they do want to encourage the industry as it's a great long term market for them if it takes off. It looks like they trust Avalon a whole lot more than RedT. I wonder why!!
ATB everyone.
Interesting condition included: -
"In the event that the Merger and the Fundraising do not complete successfully, the terms of the Interim Loan provide that the principal amount of up to US$2.5m, together with interest at 12 per cent. per annum, becomes repayable to Avalon six months after any announcement by the Company that the Merger is no longer proceeding. redT has granted security over certain of its assets to Avalon as part of the Interim Loan."
Any decent BoD would not be taking any salary, specially after the years of extortionate salaries taken for huge failure, also the fact they have skimmed off the profitable sides of the business to line their own pockets. This however will not happen as thy are greedy folks who like the smell of free money, it's highly likely Bushveld will pocket this company for nothing, god help them maybe the little man Scott has already done a deal for employment... more likely it's some referral scheme via Camco Africa.
#scumbags
Scott free and with the carbon credit business in his pocket... and of course the other profit making sides of the business.
No matter what happens here, it will be loss making for years. Only winner is Scott and Kenna, those two crooks have the jewels paid for by share holders, who'd of thought it. Shareholders have nowt and seemingly happy with that. Bizarre.
I don't like to complain, but ... as shareholders (former shareholders?), supposed owners of the business, we seem to have had no say in the merger, have no idea what, if any, valuation has been placed on REDT as part of the merged business, and have no indication whatsoever of what our share, if any, of that business will be. In addition, no timescales or deadlines have been provided for any part of the process, and things only seem to be happen on an ad hoc basis, whenever THEY feel like it.
So no, not quite the BEST ever rns.
Still, mustn't grumble, eh?
McGregor may be leaving with a package. It is not clear to me that he will be sacked in its traditional sense. The RNS from the 15th March mentions scenarios around his departure .
So the only bit I can read that we have any real news on is:
“Further details concerning Larry's appointment as a director will be set out in the AIM admission document for the merged business which will be published in due course.”
Which could be next week or more likely next year!!
PC
He has got away Scot free with his millions though.
Scotty the fraud has Been booted off the board repeat Scotty the fraud has been sacked and will no longer have anything to do with Red after the merger. Great great news for everyone. The must of known how toxic and poisonous it would have been to keep him on. So so happy as I'm sure everyone will now be he's gone and being replaced with real talent from avalon and bmn overlooking things.