Good point. 30% applies to UK companies or those who hold board meetings here. Richland aren’t subject to the Takeover Code but as they say on their site their Articles cover this off basically saying you can only go above 30% if you make a bid for the whole company.
Question I have for the board is who's behind "Strategic Investments International Ltd"? They were issued shares as "management" but they don't say whose vehicle it is. On their site, management used to be Suminda (production manager) and the CFO (still listed).
AM, Fura are already listed and have raised money so they could just pay for a dual listing. RTOs are 99% of the time private companies looking to go public and raise cash. It’s just simple logic. Plus, why would Fura buy the asset then go for the listing separately. It would have been quicker and cheaper to just RTO to get both. If you look at their strategy the BOD want to acquire various assets to become a one stop shop. They don’t need RLD’s management just the asset.
"#RLD; pretty classic IH&S set-up. Price is bang on the 0.155p pivot level, above here it’s a clear breakout with extensions 0.179p, 0.191p and 161.8% at 0.209p. Level lower is 0.136p & also rising EMA9 both of which should be solid support area."
Already posted that it looks like he’s banned but radio Suhail is blasting away in Twitter just paste his LSE username into Google/Twitter and you’ll find him. Nothing genuine about him, lied about the Fura RTO and bitter ex-holders took him to task to no avail.