You'd be surprised. Work is work and holidays are holidays. Sometimes you can't get anything done as important people are away. All I'm saying is that regardless of how you perceive the magnitude of the work to be, people take leave. I wouldn't hold it against anyone.
Can't imagine anyone was working on this over the long weekend. Bit hopeful to think there'd be news today. It's the start of FY22 so a lot of people are on leave all over the shop too. News will come but, if Kodal function like a lot of UK headquartered companies, we will be waiting a while longer.
From Hargreaves:
'Our Corporate Actions team have confirmed that Ridgecrest plc will be delisting as they have failed to complete a reverse takeover.
The stock is due to relist on the Aquis exchange, however no date has been specified and currently Ridgecrest plc is still suspended from trading.'
Pretty much what Africanskies said. There's nothing at the moment. A little hope there may be something on Aquis. That's all anyone knows. Our broker's Corporate Action Teams will let us know if/when something happens.
From the RNS:
'Should the Company not complete a reverse transaction within six months of the date of suspension or be re-admitted to trading on AIM as an investing company under the AIM Rules, it is expected that the Company's shares will be cancelled from trading on AIM.'
It doesn't necessarily mean all will be lost, but it could be. The money doesn't technically disappear, but the company will disappear from AIM if they don't relist. They may have to relist as another company or on a different exchange if they don't relist as an investment company. Can't say I know any more. Does anyone else have any ideas?
I bought into this thinking they'll get an RTO done in time. Still think they will. As much as people lamet Blue Air, they didn't meet the requirements. No use wasting time or crying over it. On to the next target... and maybe the next.
It makes it very difficult to relist so all eyes on the RTO.
I wonder how much of the 2 mil was burnt up between the end of March and now? They stated (pasted from the RNS below) they believe they have enough funds left for a reverse takeover, but is that a statement from the end of March or now?
(taken from RNS)
Going concern
In determining the appropriate basis of preparation of the financial statements, the Directors are required to consider whether the Company can continue in operational existence for the foreseeable future. The parent company had cash and cash equivalents of £2,001,000 and net current assets of £1,974,000 as at 31 March 2021.
The parent company is an AIM Rule 15 cash shell and as such is seeking a suitable target business to perform a reverse takeover (RTO). The Board believes that there is sufficient working capital to perform such a transaction
Putting your opinion to 'hold' because there is nothing more you're capable of.
I'm happy they were decisive enough set fire to the dead wood. No point in wasting time as it's what we have little of. On to the next. Same as any sale, it's just about finding out if you and the customer are a good fit. Sometimes you are, sometimes you're not. It's nothing personal.
We're invested in this team's ability to RTO the right company. Blue Air are just wrong for us at the moment. No less worrisome for us, but it's not like we can do anything.
Any ideas on someone else who is looking to list?
Blue Air connects Milan Linate to Prague
Romania’s Blue Air has grown quickly at Milan Linate, the airport closest to the city center, with its next route – to Prague – taking off. This is the first time the Czech Republic capital has been served from Linate since 2014, when Alitalia operated it from April to October. It comes soon after Blue Air started London Heathrow to Nice.
A market of around 5,000 transit passengers in 2019, Blue Air links Linate and Prague twice-weekly using 120-seat B737-500s. Blue Air competes indirectly with Ryanair’s seven-weekly service from Milan Bergamo and easyJet’s three-weekly from Malpensa in the current week.
https://simpleflying.com/notable-airline-routes-8/
Only the number of serviceable aircraft in the fleet.
https://www.aviation24.be/airlines/blue-air/blue-air-receives-4th-boeing-737-max-8-aircraft-in-its-fleet/
I think he meant we're 20% through the 6 month contract finalisation period. Providing this takes the full 6 months, he's not wrong.
Will that 20p come before or after consolidation?
Very positive PR. Does anyone have the full article?
http://www.romania-insider.com/blue-air-reopen-iasi-base-aug-2021
Not expecting any news anytime soon, but it's good to know the gears are still turning.
https://www.romania-insider.com/blue-air-wizz-air-new-routes-ro-aug-2021
Airline stocks are on the up.
https://uk.finance.yahoo.com/news/airlines-rally-as-britain-set-to-relax-us-and-eu-travel-rules-101517600.html
US and EU passengers who have been fully vaccinated outside the UK may be able to skip quarantine.
Where does 2 x 7 times come from?
I agree, there is definitely value here and it looks like we're in the right place and time to do well. Even in the years to come, this could become a major LCC. However, it is relative. By that I mean the shares are to be consolidated and our slice of the pie could potentially be cut thin. Any ideas on the consolidation ratio?
We can start to put some rough (I mean very rough and please let's debate) numbers together if the ambition is to list at 500mil. What was RDGC's mcap pre-suspension? 6 million? That's a difference of 98.8%. So let's say pre-consolidation you had £1000 worth of shares, you now potentially have £98800. Well done you.
What will the consolidation be?
10:1? You now have £9880.
50:1? You now have £1976.
100:1? You now have £988.
Let's hope that comes to fruition. However, I wonder how 10p, let alone £2, will look after consolidation. Any thoughts? It's all relative I suppose and at least we're in it to potentially win it.
I'm not saying that there won't be profit in the beginning either. There is just no guarantee.
There's no guarantee it be profitable in the short-term for us. A consolidation of shares and an unknown listing price doesn't really give us much to go with. It isn't impossibe for us actually start out with less than we originally invested upon re-listing. However, I can see long-term growth in this company, if its actions match its ambition... and people start travelling a lot more.