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Update on the Company's investment in Fast2Fibre - 9Sep 2022 - Investigate
On 31 March 2022, Ridgecrest announced its investment of £300,000 in Sparkledun Limited ("Sparkledun"), the parent company of Fast2Fibre, in the form of a convertible loan note (the "Initial CLN") and that it had agreed to subscribe for a further £200,000 convertible loan note (the "Further CLN") in Sparkledun on the same terms as the Initial CLN, subject to Sparkledun raising at least £1 million as part of a separate equity fundraising.
In advance of Sparkledun completing its separate proposed equity fundraising, Ridgecrest has now made an additional investment of £250,000 in Sparkledun in the form of a new convertible loan note (the "September 2022 CLN"). The September 2022 CLN, that supersedes and replaces the Further CLN which has been terminated, is unsecured, carries an interest rate of 10% per annum (payable on redemption) and, unless otherwise agreed between the parties, is to be repaid by 31 December 2022. Ridgecrest may elect to convert the principal amount of the September 2022 CLN and all accrued interest into a minority interest in the ordinary shares of Sparkledun at a price (subject to a downwards adjustment in certain customary circumstances) of £32.05 per share.......more
https://www.investegate.co.uk/ridgecrest-plc/rns/company-update/202209090700087952Y/
Thanks, MRSI, reads well,maybe we'll get something afterall.
Any sign of update here?
probably not till Q1 at the earliest.
These people dont respond to any comms. They dont update in any way about what they are doing, as far as I can see they have stolen our cash, anyone like to tell me otherwise, as they have had months to announce a contract for fast2fibre and the whole of the UK is as busy as hell installing fibre....
I have to agree . I've written off my money although it's not dead in the water so to speak .
I think it's best not to include it in any planning/ future use
No sign of any update??
Feels like game over here .
Email ignored .
I'll be staggered if this lists in any entity again
Still showing on JP Jenkins but I bet you couldn't sell any at all.
A bit of news here would be nice. Wonder if anything happened with CEPCO or Vodafone in Germany