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Sorry quick correction it has jumped to 1.94p
It's a false price- the actual price is 1.789p to buy.
One £4.99 trade and +22% to 2.2p lol
Snorlax 🐷 why are you here spouting nonsense 🤡
It’s going up to 20p when the next news lands 👍
All depends on where the $105m difference in net cash proceeds has gone, if a large portion is held back as security it’s still potentially an asset of RQ, if more has been allocated to pay down RQs debt / bonds then RQ has still benefited from it.
Vs If it’s just a revaluation of the book and gonezo
for good with the additional closing costs / funds needed to complete the sale.
One month closer since the last update. 🤞
I sincerely hope you are incorrect, people will have to manage their own risk thresholds I suppose. There is a huge amount of risk here but also potential upside. It is a tough one.
The SP is starting to tick up from the low point now. The company continues to advance the sale of Accredited towards closing. I believe the share price will now rise towards the news release about the sale transaction, I think 5p (the March SP) is achievable by that point. Once that happens and restructuring begins then R &Q will have the potential to rise significantly with the team they now have in place. I would be happy with 5p before close of the accredited sale and then it will be time for the new management to prove themselves with potentially huge gains for those buying in at these lows.
Mi
All indications are that the sale is still due to go through in Q2 which will massively improve the financial situation for RQIH. Then the restructuring begins in earnest. Nobody believes it will become the perfect company overnight but the restructuring should breath some life into this share after a period of real instability.
Would not warrant a 7% rise. Little manipulation before rug pull.
Yes there are very few shares in free float, and this can jump large percentage points on little volume- both negatively and positively.
You can see from today's trading that relatively small purchases can create significant percentage increases in the SP. The share price can jump up sharply.
Not long now. We know big steps have been made with various approvals from key organisations, we know new staff have come in and we have been told to expect the sale to complete before the end of Q2. Big times ahead here.
I’m not here to ramp or de ramp. I like to look at facts and in saying that I take in the comments of Snorlax and the financial difficulties the company is in. However, surely the recent appointment of 2 non exec directors who are specialists in restructuring companies means something. They’re not there to make up the numbers ( not to be taken literally ).
Bring on the deramping 🤡 who’s not invested and touting nonsense for their own benefit 👍
Nobody's piling into this, only those without brain cells would.
Net cash proceeds from any sale is expected to be in the region of 50 - 80 million, total debt as of june last year 260 million!! The company is in massive financial difficulty! Pay no attention to the ramping on this bb, I promise you'll lose money here!
People will pile back in here when they realise the sale is imminent.
271.389,285 of 373.5m accounted for by II and directors.
100m shares, £1.5m worth floating around
But realistically someone’s / some have been selling and not notifying.
Https://www.insurancebusinessmag.com/us/news/breaking-news/randq-insurance-seals-lockup-agreement-486596.aspx
Onex to ensure the sale’s progress, targeting a closing in the second quarter of 2024.
So we could get news any day, and good luck buying when it does. Easy 5-7p target!
4 months ago, the company was trading at 10p+ with a market cap of 40 million. Now, the market cap is under 6 million.
I'm sure this is the bottom now, and it's time for a bounce.
Once - onex
Once partners V has $625m allocated for the two acquisitions, with additional funding available if $340m + $225m
So They have $1.2b available to use.
Thats from onexs interims released last week.
It's all about taking a position, and I believe next few weeks will be significant.
RNS from 24 Apr 2024
Update on proposed sale of Accredited - Summary:
✅ R&Q secured lender approval for the sale of Accredited to Onex Corporation.
✅ Regulatory approvals are ongoing, with some already received.
✅ The sale is still expected to close in Q2 2024.
✅ Up Agreement reached with lenders, outlining terms for debt restructuring, sale consent, and use of proceeds.
✅ Discussions with regulators are ongoing, with some approvals already granted.
✅ R&Q is still exploring options to maximise value from its legacy insurance business.
That was an article from 2019