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In auction no quotes both ways now and backwardisation on L2 orders 2.24p buy order v 2.2p sell order hence no online quotes. I tried to buy and failed
I can't buy anything. My £5k order still hasn't been executed yet.
I don’t think many expected this
Total manipulation drop to 2p offer and offer zero online...sellers only
Lots of algorithm games by the market makers
Just make sure to fill your boots! Most people reading the latest RNS are excited about Q2, patience is key for big rewards.
Expected net proceeds from the sale are between $65 million and $110 million.
Expected a 50% rise today not a 30% drop
Well, I didn’t expect that.
Because no one really knows the actual financial position of the company until all sales are completed, and much of the residual value left will be held as security / collateral for up to 5 years.
And we still don’t know what the company will actually do once the currently announced sales finalise,
will the sell off the remaining reserves (if so at a profit or loss?)
Or Will they choose to run the business with the remaining reserves under management and if so what would the numbers of that company look like?
TLDR no one knows where we stand till it’s done.
🤷♂️
With the figures mentioned in RNS’s
How is the market cap only 11m
This would probably be why they have sold the JV too, they would have been encouraged by debtholders to make the numbers work for everyone.
thats an extra $30m cash flow in too dont forget
I’m happy enough with that! Will be adding more as soon as I can.
Im wonder if a chunk of the net sale difference is being put down as extra RQ Legacy collateral, which originally they had estimated at $40-80m.on $170m-$210m
now its $65m-110m, so $5m atleast may be extra collateral.
RQ Legacy collateral was the only amount that was a range, not a single amount.
see how the market takes it in morning.
Lots of buying for last 3 weeks shown as sells
Glad I topped up my holding today - showing as a sell at 3p - so maybe all the other sells showing at 3p are also buys!
GLA :)
Absolutely...I'll be adding even more now ...very detailed and professional update
I’ll be joining you tomorrow.
Looks like maximum 10 week hold for a minimum 8 bagger
It sounds like it all chugging along, finger in air calc was 30p-40p nav, plus whatever differences the $30m obra sale and any further sales make
Excellent news
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.
✅ Expected net proceeds from the sale are now between $65 million and $110 million.
✅ Proceeds will be used to reduce debt while maintaining liquidity for ongoing operations.
✅ R&Q is still exploring options to maximize value from its legacy insurance business.
RNS update, all coming together
Updated the numbers within the wiggle room window
"Net Cash Proceeds on closing are now expected to be between approximately $65 million and $110 million "
They had £220m wiggle room between current mcap and the original estiamtes of NAV post sale
And that’s
“Adjusted for closing of the Sale and subsequent de-leveraging of R&Q assuming Available Net Cash Proceeds of $170 million (at the lower end of the expected range)”
Not much has changed since the deal announced in October, interest rates have only moved a quarter %.
Because the deal hasn’t been signed yet
Mark@1973
Yes Accredited is RQIH's jewel in the crown.
Yes the money will partially bail out legacy, but I doubt it will be enough to make up all legacies losses.
If there was a surplus here I ask myself why the funds aren't hovering up the share ?