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This is looking terminal now....anyone heard anything ?...
"Why have we not seen an extension to the loan as yet ?"
because it doesn't run out until April 24 ?
We are waiting on the following:
- Convex: Further deal closures are needed from Convex this side of the year otherwise RBGP will likely miss the £10-£12m EBITDA guidance. Translation: another profit warning could be coming.
- Debt refinancing: CEO and CFO have always maintained RBGP has a great relationship with its bank, HSBC. Why have we not seen an extension to the loan as yet? If RBGP are looking at an alternative provider, why is this? Has HSBC requested an equity raise to help delever the business?
I sent a very peed-off message to investor relations, writing why the directors didn't have confidence in the company shown by the lack of director buys. I got a bit of a stroppy reply back and then 2 days later there were a couple of token director buys.
Clutching at straws maybe but I note there was a small director buy early October at a relatively higher price, they must have had confidence at the time ?
A lot of selling by the looks of things. Looks like they may know something we don't.
Goodness - didn’t think this could go much lower…looking terminal.
Hitting the risers board today, after Dowgate increasing holding and small insider buy this week.
Not hard to see why with net debt more or less equivalent to current market cap. Pleased to see though that discussions re. refinancing debt due in April 2024 have been positive.
Staying on the positive theme the board expects to meet current market forecasts for the year end of which the consensus is for adjusted EBITDA of £10.2m. That's with adjusted EBITDA at the half year of £2.9m. So as they say the second half should be a lot stronger (and that seems to be the case 3 months in) and so for me a bit more patience is required before we get the rerating that's surely due. Will be interesting to see if ST takes a positive view later today.
Loads of large sells with very little buys. Is this a sign of another Company that's about to go into administration / liquidation?
A very good start to the day on moving up to 23.50 v 35p +0.75p
The £10,000 Buys yesterday got the MMs short of stock this morning after further buys
3 x£10,000 Buys in a row from 23.55p to 23.70p
12:18:38 42,168
12:17:12 42,213
12:14:30 42,437
Claim - counter and defence............
"RBG's defence and counterclaim alleged that Foulston also breached her fiduciary and director’s duties by placing herself “in positions of unauthorised conflict, preferring her personal financial interests” over her duties to RBG.
That involved misleading RBG’s remuneration committee over Robert Parker, who was RBG’s Chief Financial Officer for three years until he agreed to resign in December 2022, claimed RBG.
RBG alleged that Foulston erroneously represented that Parker was owed £300,000 under his contract, payable to a company, Velocity Venture Capital, of which she was a director and a shareholder. It alleged that Foulston did not disclose "the full nature or extent of the proposed arrangements involving [Velocity] and Mr. Parker and, accordingly, of her interest in the transaction".
It also claimed that at Foulston’s direction, Parker wrote off £73,630 in fees generated by RBG fee-earners who had been working on an intellectual property dispute for Velocity. RBG is now suing to recoup the sum.
Foulston's actions “gave rise to a clear (and not just potential) conflict of duty and interest” between her duties to RBG, “including to minimise write-offs”, and “her personal interest in the write-off of fees payable by VVC [Velocity], by which VVC and (indirectly) she would financially benefit”, RBG said"
https://www.rollonfriday.com/news-content/exclusive-ousted-rbg-boss-nicola-foulston-barred-agm-accusations-fly
On the move UP again, well opposite of what the market is doing at the moment well down FTSE 75 points lower
Looking good - expecting 100% profit on this one.
24p being paid, wonder how long the buying will continue.
Undervalued UK small caps like this are about to explode. Inflation print next Tuesday i think could be the best day of the year for UK markets.
Look at the US rally.
Hold on tight. Those minus 10-20% portfolios could be back in the black soon, gents!
Definitely someone accumulating.
Spread 22.50 v 24p +1.50p +6/90%
A few 5K buys plus a couple of 10K one after another has got the MMs in a bit of bother and got the spread large at the moment.
Bid back to 22p and almost paying full offer
15:29:19 23,00 5,000
15:23:01 22.995 5000
15:20:41 22.995 5000
15:15:25 22.495 5000
15:15:22 22.495 5000
15:14:26 22.485 10000
15:20:41 22.995 5000
15:23:01 22.995 5000
Buys at full ask, heading back to 30p??
Moving up nicely.
Incredible value on offer here and ANX.
All going well on this remarkable bounce back
Chart .. http://uk.advfn.com/p.php?pid=staticchart&s=L%5ERBGP&p=23&t=1&dm=2
Apologies, I wasn’t being rude Gallmat, I was trying to state that my 17.49p buy is was ridiculous and anyone here doubting the substance of this company based on current SP has nothing to worry about, in my humble opinion.
Already at 20p…. 30p soon and then back to where it should be.
It’s oh so quiet ssshhhh
Not sure what type of post is this. I got lucky you did not.
Thx