2 big block sold off at the end of trading14 Jun 2024 21:35
I can see to big blocks sold off at the end of trading on Friday they are definitely sells as the price is in the sold range all sells are in the 0.125 range .. BE VERY CAUTIOUS the RNS is basically telling you the party is over and if you want to sell your last bit of remaining shares do it now.. Of course there's always a thin thin chance some silver lining in it but be careful not to get pulled in and you will not ba able to get out without a substantial loss because of the spread and fees.... Read the points in the RNS carefully... GOOD LUCK TO ALL HOLDING & CAN'T SELL I KNOW HOW YOU FEEL...
Noted from RNS
Shareholders should note that the implementation of the Alternative Proposal would involve the parent company, R&Q Insurance Holdings Ltd., filing for a provisional liquidation in Bermuda and then completing the sale of Accredited to Onex through that process. The provisional liquidators would then look to realise value from the Group's remaining assets. The Directors believe that in such circumstances there would be very little, if any, chance of any value accruing to the Company's shareholders.
As stated in the Circular, if the Sale does not proceed on its original terms and the Available Net Cash Proceeds are not available to facilitate a financial de-leveraging of R&Q, R&Q will not be able to repay its debt facilities as they become due, and R&Q would therefore be unable to continue as a going concern.
In the event that the Company were to enter provisional liquidation, R&Q would request that trading in the Company's ordinary shares on AIM be suspended immediately. Notwithstanding any suspension of trading in the Company's ordinary shares, the Company would continue to make notifications as and when there are matters requiring disclosure in accordance with the Company's obligations under the AIM Rules for Companies and/or the UK Market Abuse Regulation.
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