Member Info for jdosso

Looks like they turned there attention to Ethiopia instead...

http://www.yarnsandfibers.com/news/textile-news/ruyi-group-losing-interest-quaid-e-azam-apparel-park-project#.W3WSgmeWzVU

This is interesting considering Shandong Ruyi already have controlling stake in SMCP, released yesterday...

Shandong Ruyi Woolen Garment Plans To Invest In Fund For Stake In France's SMCP

IT PLANS TO INVEST IN YINCHUAN URBAN CONSTRUCTION INVESTMENT'S FUND WHICH INDIRECTLY OWNS ABOUT 25 PERCENT STAKE IN FRANCE FASHION RETAILER SMCP S.A.

* SAYS DETAILS OF THE DEAL INCLUDING TRANSACTION AMOUNT STILL NEED TO BE CONFIRMED Source text in Chinese: https://bit.ly/2vEuluL

I give up

Well done, now read RNS announced on 18th July

"We are delighted to confirm the completion date (31st August 2018) and announce Shandong Ruyi's further financial commitment to the transaction."

So tell me, when you think the EGM notice will be announced?

Taff, agreed..

Once Ruyi commits the remaining $13.2M then the deal is complete, and we vote. vote against, we refund the $3.3M vote for we gain $16.5M working capital and look forwards to a transformational future

for those in doubt, read carefully
RNS 18th July - "We are delighted to confirm the completion date and announce Shandong Ruyi's further financial commitment to the transaction."

Once Bagir has announced Ruyi's further financial commitment for the remaining $13.2M, then EGM notice will be announced.

Taff, not if investors are getting hungup about the AIM rules for the 14 day notice as we approach the end of the month.

BAGR has already stated at least 3 times that there will be an EGM in order to approve the full investment by Shandong Ruyi Group on completion..

9th Jan, 7th march in final results, and 23rd May.. yes 14 days + 48 hours required for EGM notice but that can be anytime between now, 31st August and beyond.. Ruyi are committed, they have already provided two $1.65M payments. Personally I am expecting this to drop back to 1.6 towards end of August just because there are a lot of people worried about the EGM and misinterpreting the 18th June RNS.

Ruyi are committed to complete the deal by 31st August 2018. You cannot have an EGM until the deal is complete, then it has to be approved by the shareholders..

RNS 9 January 2018
Bagir is currently in the process of preparing the necessary shareholder circular and notice of EGM in order to approve the full investment by Shandong Ruyi Group. Further announcements will be made as appropriate.

RNS 23 May 2018
At the time of the final results announcement on 7 March 2018 Bagir confirmed that it had prepared the necessary shareholder circular (the "Circular") and notice of EGM in order to approve the full investment by Shandong Ruyi Group and was waiting for details of the proposed directors to be nominated by Shandong Ruyi to be provided to Bagir in order to be able to dispatch the Circular to shareholders. Shandong Ruyi has subsequently provided details of certain proposed directors to be nominated to Bagir's board and Bagir remains in discussions on the exact composition of its Board moving forwards.

At the same time, Bagir awaits Shandong Ruyi's confirmation on certain information to be included in the Circular relating to Shandong Ruyi as well as the confirmation of which entity within Shandong Ruyi's group is proposed to be the shareholder in Bagir.

Bagir looks forward to being able to update its shareholders on the timing of when it will receive the necessary confirmations from Shandong Ruyi so as to enable Bagir to be able to post the Circular to shareholders. At present, there can be no guarantee on when these confirmations will be received.

Chief Executive Officer of Bagir, Eran Itzhak, said "The desire from both companies to complete this transaction remains unchanged, meeting the requirements and the process associated with doing so has taken longer than first anticipated, however, both Ruyi and ourselves are confident we will complete this deal and that it will prove to be a valuable and productive partnership."

RNS 18 July 2018
Chief Executive Officer of Bagir, Eran Itzhak, said "Shandong Ruyi is a global leader in our sector and their decision to become our partner and majority shareholder fundamentally changes the future prospects of Bagir. We are delighted to confirm the completion date and announce Shandong Ruyi's further financial commitment to the transaction."

Expect to see an EGM notice on or around 31st August

No we don't you pillock! a deal has to be agreed between bagir and Ruyi before they can put the deal forward for the shareholders vote.

Looks primed.. The SP action will get silly once the RNS lands

100% minimum, that's just for having Ruyi on the board with 54% controlling stake and $16.5M working capital.. we don't really know the details yet and I suspect the deal may reveal a few surprises.. any announcement on new significant orders will send this share flying anywhere around 100% 200% or even 400%..

That's better decent rally into close

Interest is certainly building, shame there's an idiot ramping this one on twitter at the moment.

Goes to show how quickly this stock moves on small volume

I'd be getting excited once 20p is paid not 2.14 lol

Back in 2013 with the M&S contract I think the adjusted EBITDA was around 3.5 million.. we could easily surpass that with Ruyi

Yep they lost the M&S contract 3 or 4 months after the IPO back in 2013.