Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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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.
Read the RNSs Groover
Delisting means delisting, aka we've lost our entire investment. It matters not re crooked Directors moving into hospitailtalty or if they were going to start an oil company after a big find in their gardens, we're not invited or included in any new company. Our shares were with RDGC so
not sure why you think a progress report would benefit us?
Yes my account confirms de-listing from 07/01
Yes it is happening on the 7th jan, its confirmed on the Interactive Investor website, so its a waiting game throughout 2022 to see what happens
There hasn’t been a further RNS. I expect it to arrive on 6th or 7th January confirming de-list. Hopefully also including an update on progress with the proposed investment in the hospitality sector Company. It would be very poor form to just de-list and not provide any concrete detail on what the heck is going on (if anything!)
Investrip has claimed that a RNS has been published to delist off AIM.
I cant find this anywhere apart from here.
Could someone else confirm that it’s real as the last official RNS was published on 17th Dec.
Tried to sell twice to put more into Sar but to no avail
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
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).
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
Sorry lads looks like the BoD have shafted us here!
Hey guys. Just wanted to reach out to all of the holders. Hope nobody lost their shirt on this one. I was /am in for £2k. We all took our chances here and I genuinely thought it could have been a winner for us all. But to be pragmatic; we all have our thumbs to be able to post on this board.
Take care, have a fantastic Christmas and best of luck in the new year
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?
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 .
agreed Groover,
hospitality, thats about as good an investment as Laser Discs
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.
I’m hoping they buy all they can and pump it massively before any selling starts!
He doesn’t do texting, that’s all I’ll say!
Agree it doesn’t sound good but we need more detail before anyone can make an informed decision. It’s the abandonment of RTO and shift to invest in a potential AQSE that needs justification. All I see at the moment further losses and more difficulty getting access to what’s left as AQSE can be illiquid.
I’m sure Patel, JM, Spencer’s will be leaving voicemails.....
Has anyone ever tried calling RT? Mobile readily available on the website.
Assuming the hospitality Company does list on AQSE as planned, yes it will show under that company ticker on your trading platform. I presume you mean x-o? They allow online trading on AQSE.
As for the target Company and likely SP. Total guesswork at the moment. You’re not alone in that pitch black room....
What’s next then?
Just sitting around again and wait for re list but assuming that it will re list on AQSA? I trade with Z-O trading, will the share show in my account? + what’s everyone’s expectations of re list price? I feel very in the dark atm lol
Advanced discussions with themselves (about their great idea to benefit all shareholders), but just Preliminary discussions with the hospitality Company they’ve been approached by looking for a hand out?
As at today, the Company has approximately £1.7 million of cash. Currently, the Company is in advanced discussions to invest a significant proportion of its 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.
Advanced discussions or at preliminary stage ?
Contradicts itself ?..who knows.