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Even if they (RDGC) do agree terms with the target company (and they have not yet confirmed that they have, or who they are even, or the terms etc) you would need to be registered with one of these AQSE retail brokers in order to sell/buy shares in the newco:
https://www.aquis.eu/aquis-stock-exchange/for-investors/retail-brokers
I would wait for news from Ridgecrest. Until then there is little you can do.
Other than this croc of sh** I've had a great day today as I'm also in #BLU ??(+35% on the day)????
You win some, you lose some!
Got in with a cheeky pre-Xmas 500,000 @ 0.363 earlier. Have to say that there is a pretty compelling investment case here. Time will tell! Merry Xmas all holders.
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
A measured post @JMole!
When I first saw the RNS I will admit to being slightly disappointed as all the BB hype/expectation was around a tech venture which is more familiar ground for me but on reflection I'm quite happy.
I remember Wizz Air starting up around 2003 (I was working in Eastern Europe at the time & they offered a great/cheaper alternative to the big boys). They became very popular, very quickly.
Fast forward and Wizz now have a market cap of £5 to 6 Billion from very small beginnings. They listed on the LSE in 2015.
Quick comparison (so quick I may have made some accounting errors):
Wizz have 140 aircraft (Blue have 10% of that)
Wizz have 150 destinations (Blue have c. 40)?
As per previous posts very few airlines can afford to buy aircraft so they are normally leased. I did actually look into this once myself!
In this 'low cost' space it's all about economies of scale and as they are charging less per trip it's just about getting bigger numbers paying less to travel to increasingly more destinations (without losing customers through shoddy enterprise)!
Lets not forget also that the un-paid directors here have options at 1.8p.
Why would they set that as an option price?
The dilution is my biggest concern but i'll be happy to see what happens here.
GLA!!
Forgetting all the BB 'noise' for a moment.......these situations are often set plays with those 'in the know' being able to fill their boots even more. It doesn't always happen that way but often does.
I've said before that a key marker for me is that the unpaid directors have bags full of share options (including JN) at a strike price of 1.8p (announced via RNS in February).
Why did they set that strike price?
IMHO they set it at that as they are pretty sure after an RTO is announced they will be able to make a healthy profit when they come to sell their options as the SP will likely be multiples of that. Otherwise what's the point?
If you've paid 1.8p or less for your shares you are in this for what the directors have options set at so don't beat yourself up. there are other TR1 holders that have also actually paid a fair bit more than this as well....and they are still holding (what do they know)??!!
I'm more than happy to hold for now too.
Yes I know. 1st post on this board and blah, blah. I just registered!
I won't though be trolled, or taken-in by anyone as I won't post here much (if at all) further. I will declare though that I do have an interest in a small holding (and it is relatively small in comparison to some of your personal claims). I just do what I do, which is mainly a lot of research and reading & a lot less of the posting on discussion forums stuff.
A few 'observations':
1. The Directors were given options at 1.8p in a recent RNS (24th February in fact). They are not being paid so this is designed to be their 'reward'. The options can be exercised after one year ie from early 2022.
Other options were granted at 1.65p, announced by RNS on 22nd January.
If they can't get the price above the option trigger fairly substantially these ppl will have wasted their time and a big potential opportunity. Refer back to the RNS’s announcing the options to check this out.
The SP today is 0.875p mid. Go Figure how cheap this may prove to be. Buying in now will get you in at a HUGE discount to the current Director’s own option exercise prices.
2. As others have pointed out, the BoD are very well connected and have achieved great results before from exactly this type of start before.
3. The original placing was at 0.6p. The SP is now not far above that with everything still to play for.
4. But still don’t forget, this is a SPAC. Yes it could come good but there is also a chance it won’t.
You can dismiss a huge amount of the vitriolic/personal stuff posted on this & other board(s) (I know I have) but for me personally, I’m happy to hold and see what happens.
PS I’m not registered on any other boards so please can the conspiracy theorists take a break. I do own a Bentley though, hence the user name!