R8 Capital Inv Share Chat (MODE)

Hopefully for all concerned it will be a positive update considering the delay and a lot of holders are down massively, would be good for a little return all around

We definitely should get an outcome within the next 10 working days then. End of third quarter and very near the years anniversary of the suspension.

"On 9 April 2024, subsequent to the year ended 31 December 2023, the bank, the subsidiary of the company, entered into a contingent commitment representing the group, to pay up to £1.41 million on behalf of an external party, R8,to a third party (Ey LLP). The banks obligation to pay only arises if R8 fails to fulfil its payment obligations. The actual amount payable by the bank would depend on the progress and completion of the RTO referred in the strategic report. Payment would be due at the end of the project, expected in the third quarter of 2024, or at an earlier point if the RTO is aborted."

It's not been aborted.

Surely there must be a time limit to when the RTO has to complete. A year to me seems long enough.

December! Hope we get a update before then! 😆

Things are starting to move.

UK propose that digital assets are classed as personal property & data centers are now classed as critical infrastructure.

These show that the government are stating to move forward on embracing the changes needed for a company like Redwood/Mode to exist and thrive in the UK.

GLA

Again pointless comment

I trust you'll be apologising for besmirching the man's character should this work out?*

*if indeed it does**

**if it doesn't besmirch away, and I'll join you

It's looking like this is heading for a delisting. Rowland is clearly not a trustworthy individual. I suspect we've been led up the garden path here!

Surely they can update even with a timeline

The lack of communication is horrific I agree

I hope you're correct crober but the complete lack of communication is not satisfactory. Rowland just needs to tell us what's going on. It is our company after all!

Again you are just speculating and "on or around the 31st of August" i don't think there is a technical answer as to what qualifies as around. if it wasn't happening we would have found out sooner not later so the delay to me means its definitely happening just same as before when and terms

Or a winding up RNS! The 10th of September does not qualify as on or around the 31st of August so the last RNS has now proven to be misleading. Unfortunately, we've invested in a company managed by a CEO with questionable business ability.

Personally, i think completion is imminent. No updates anywhere around the 31st, so it's now a matter of days for the RTO to complete. It would be cruel if we suddenly get yet another delay RNS at this stage in the game.

However still no one knows the terms ...

When I go to R8's website, clicking on 'Investors' in the top left of the homepage generally brings up a new page which lists recent regulatory news. This morning, clicking Investors just keeps you on the homepage. Manually going to r8plc.com/investors brings up a 'Page Not Found' message. Perhaps the site is about to be updated?

Will we get anything this week!?

Did you get a answer?

I think they've forgotten about it, i'll ring the bank now just to remind them. 🤷‍♂️

2nd October is my lucky day when I was born so that would be a good day to reveal the news

I'm wondering if this is allowed to continue after a year of suspension (2 Oct 2023).

Didn't expect to have to wait this long - I would imagine we would have found out any bad news earlier than the 31st so must be something good coming GLA

Let's hope the old adage that no news is good news, holds true here. Mind you, depending on a Rowland to deliver is not reassuring!

Surely they need to give a update this month either way?

I was very hopeful of an update here on Monday but it wasn’t meant to be. I bought in 2 days before we suspended so it was a bit of a surprise to see my investment tied up for so long.

Should give and rns to give u date on the time frame completed

Johnathan should put something out now it's been long enough and wants to be positive for the awaited share holders,if not and he has just looked after his own pocket the back lash for his bank will receive unwelcome bad publicity I suspect when so far it's all been good so have to have a bit of faith until we no different

I think we've been conned. No surprise really.

... long waited for yesterday but looks like it's a longer wait 😆

In this share deserves a happy ending been a brutal wait and hard drop from the highs of 70p ...

But Rowland could give an explanation via RNS as to why there's no definitive news yet. The fact that there's been no update confirms his and his BOD's disdain for ordinary shareholders.

Sure, and I'm not expecting this to end well. But I would love to be proved wrong.

Out of interest, there is also a line or two in the RFP accounts about a payment of £1.4m to EY on behalf of R8; the bank would be liable to pay it only if R8 cannot, and the amount payable contingent upon the progress/completion of the RTO. The amount would be payable earlier if the RTO were aborted. So for those wondering why they would not announce it's not going ahead, if it's indeed not, then there's a possible explanation..

anyway, enough over thinking, I'm going out..

Q3 maybe more concrete, but the word 'expected' also allows for some leeway, much like the 'on or around' end of August.

Companies have to use these non-specific timelines to not box themselves in. Everyone does it. Even long stop dates get extended, sometimes multiple times.

It has been a long enough wait and I will only be realising losses here to offset against gains elsewhere at the earliest opportunity, so the details not overly important like for some. Just want to finally get out and move on

'On or around' is deliberately vague; what's the definition of 'around'? two days, two months? But as I posted last week, the notes to RFPL's last accounts state the transaction is expected to complete 'in q3'.. that's a bit more concrete than the RNS, so we might have to wait a few more weeks yet..

Around 31st, have to have a update before middle of September surely to be classed around as long as its going to be positive im happy to wait :D

Be interesting to see if part of the plan of the rto is to dilute the council and let JR get more control of the bank again...

WBC are a significant investor in Redwood and I guess their involvement may have slowed the process down, as it has been a political football for a long time.

Jr did retweet a post about his previous company doing 30x in a few months (jelly cat or something) he liked something about a mode rto with redwood also. So putting 2 and 2 together to get 5, I am assuming he thinks he will get good pr from this deal....

Most recent RTO loss was ITS, prior to that whatever it was that became CIZ, and also TILS (the legality of that one still amazes me) then a host of other complete dogs that suffer from delusional/mendacious/criminal management : CLON, VAST and of course the complete farce that is SYME…come on Mode, prove me wrong

Yeh indeed i lost a fortune in #odx hoping to get a decent chunk back here then putting a large part of that in #intel

In recent times, HARL, VOG, RRL, OXS. Thousands lost and that's not to mention companies like AFC where I lost big time managed to salvage something. The aim market in particular is like the wild west. I know mode is not on AIM but it might as well be as it has been managed like it is.

What was your past experiences

Sometimes, when things are falling apart, they may actually be falling into place. Hopefully the case with Mode

Guessing you have insider knowledge for that comment , considering the date on or around hasnt even passed yet

The deal obviously failed months ago. Why not just report it?

Such a long wait expectations have went over a roller coaster

Buda what 3 companies was it that didnt come good on RT ??

Probably already been noted, but in the ‘23 accounts for RFPL ( the holding co that owns the bank), it states an expected completion of Q3 24…which runs till end Sept.

Not sure if I'm more excited or nervous now...

Anytime now

Getting twitchy now... and my track record with RTOs is not good... zero out of three coming good. On the positive side, the bank is still going, R8 is still going so we might be ok... guess we'll find out tomorrow or Monday.

Https://www.mortgagesolutions.co.uk/specialist-lending/2024/08/27/redwood-bank-promotes-allen-to-customer-management-officer/

The 31st (in or around) as stated ref RNS, falls on a weekend.

News Monday.

Rn

Some people need to grow a pair.

On or around the 31st August dose not mean several days before.

Relax.

Still earlier :) been waiting a year can wait a few days

This is not gonna happen. No mews is not good news

Tried emailed redwood / mode etc in the past but just no reply or get directed elsewhere, i understand is sensitive but surely can give a update. Would expect a RNS by end of next week latest surely?!

Yes really thought today we would of had news… how close to the deadline will they leave it before some info.

Zilch! The silence is deafening and becoming a little concerning.

Post bank Holiday RNS plz. I just want to know what is going on with my money. 12 months, way too lomg to wait, unless it's for something good!

Wonder how long they can delay (on or around 31st) surely if it going to be over a week they would notify or would have notified by now if delays

Will we get a RNS tomorrow? Hopefully can’t be long till we find out!

I'm around similar still hoping to get bonus from it however. 5p min. Many will be massively % down and don't think 5p is unrealistic all depends on the terms. Hoping crypto is mentioned and JR doesn't shaft himself and all the other holders. Bare in mind he is the one who is down the most in mode....

Basically, yes. My average is around 1.8 so that or above is a win for me

When you say get our money back are you meaning 2.25p

Don't want to be the prophet of doom, but I'm still struggling to see where any of you are pulling these re-list price guesses. If we get our money back I would consider it a major win, and tbh I'm half expecting to be diluted to oblivion. Let's see what happens

😊

We can all dream :) wouldnt care if it went to 583 if i got to sell at £2.57 :D

I had a dream last night it opened at £2.57, I stupidly sold and it kept getting pumped to £5.83. Obviously a massive pipe dream, I'd be happy to just double or at the very least, be flat to my entry price! Hopefully not long left, good luck all!

One day I will log in and see a rns.... 😆

25p and I will run around my block naked lol

25p and I would faint

That's what we are all hoping for the crypto license gets used and incorporated into his bank,which should give them the edge over other banks I think all banks will want in on the crypto market as it looks like it's the future

Love a chat ai question

It is possible that Redwood Bank might consider utilizing Mode Global’s (now R8 Capital's) crypto license in the UK, given the connections between the two entities through Jonathan Rowland. Mode Global has been involved in the digital assets space, particularly with Bitcoin, and holds a crypto license in the UK, which allows it to offer regulated crypto-related services.

However, whether Redwood Bank would leverage this license depends on several factors, including the bank’s strategic direction, regulatory considerations, and how it plans to integrate or expand its services. As of now, there hasn't been a public announcement confirming such a move. If Redwood Bank seeks to explore digital assets or integrate crypto services into its offerings, utilizing the existing crypto license held by R8 Capital could be a strategic choice.

The financial landscape, especially in the fintech sector, is evolving rapidly, and banks like Redwood might explore various avenues, including crypto, to stay competitive. For the most accurate information, it would be essential to follow official announcements from both Redwood Bank and R8 Capital.

Its been a painfully long wait, hopefully should be days away and better be positive :D

Got to say....10 months in suspension is a very long time. We seriously should be getting news anytime now.

:)

62020 - Information technology consultancy activities

Confirmation Statement saying that future activities are lawful

News got to be soon

R8 Global has strong growth prospects, and the RTO is executed on favorable terms, it’s likely that the original investors could benefit significantly