Member Info for Korda

I’d like to think a maximum of 2 week for news now :)

I pray no further delays! :(

Could be news as early as Monday 4 week to go :)

Https://redwoodbank.co.uk/news/press-release/redwood-bank-makes-key-promotion-to-support-businesses-with-their-lending-needs/

Gets a slight mention at the end of this still no info though

“Gary said: “The planned reverse takeover will allow the Bank to grow the balance sheet significantly without proportionately increasing costs, and enable us to deliver enhanced stakeholder value.

“Supporting the successful completion of the reverse takeover is currently an area of key focus for us and we hope it will be finalised in Q3.”

Jonathan Rowland, Chairman and shareholder of RFPL and R8, said: “I am delighted to see such a strong set of results for the Bank, and the reverse takeover will provide a fantastic opportunity to launch an exciting new chapter in the Bank’s future development.”

Https://www.finextra.com/pressarticle/100701/redwood-bank-doubles-profit/wholesale

“A multi-award-winning specialist business bank, Redwood Bank doubles profit before tax just months before it expects to complete a reverse takeover to go public.”

“ The parties now believe that completion of the Transaction will be on or around 31 August 2024. The extended timeframe is largely to accommodate certain aspects of the Transaction”

Yes hopefully the wait is worth it!

But don’t think it means anything… just one of JR’s address contacts

Registered office address changed from Finsgate 5-7 Cranwood Street London EC1V 9EE United Kingdom to 2 Leman Street London E1W 9US on 10 April 2024

Https://www.warrington-worldwide.co.uk/2024/04/27/six-in-a-row-for-warrington-business-bank-at-industry-awards/

“ Redwood Bank’s parent company, Redwood Financial Partners Ltd (RFPL), had signed Heads of Terms for the reverse takeover of R8 Capital Investments plc (R8), a company listed on the London Stock Exchange, in 2024. Kennedy is keen to be involved in these changes, planned for this year.”

Hopefully this is another positive

https://bestadvice.co.uk/redwood-bank-appoints-coo/amp/

“ The proposed RTO is a huge opportunity for Redwood and will provide a platform to grow in the years ahead. I’m excited by what I can bring to that.”

Gary Wilkinson, co-founder and CEO of Redwood Bank, added: “John has joined us at a very important time and we are delighted to welcome him to the team. He is a strong leader and his experience will be invaluable as we enter the next exciting stage of the journey.” ”

Clearly happening behind the lines

https://www.mortgagesolutions.co.uk/news/2023/12/07/eastgate-joins-redwood-bank-as-chief-commercial-officer/

“ John Eastgate has been appointed chief commercial officer at Redwood Bank ahead of its proposed reverse takeover (RTO).

Eastgate, who joins Redwood Bank from the Nottingham, has over 30 years of experience in the banking sector. He was interim chief lending officer at the Nottingham. Before that, he was at Shawbrook Bank for nearly three years as managing director, property finance.

Eastgate has also held roles at OSB, Saffron Building Society and Barclays. ”

4 week today we heard.. could be anytime soon hopefully

“ While a traditional IPO may require months or years to complete, an RTO may be completed in just weeks.

Seems a new page added on redwood bank website “Warrington”…? I know an office there but strange to add a page like that

https://redwoodbank.co.uk/warrington/

I fancy update this week/early next week :)

“ OUR MISSION

To become the UK’s best, go to, specialist business bank, working tirelessly to provide our SME customers with simple, clear products and fast decisions that allow their businesses to grow”

I like the sounds of this though

“ Getting listed through reverse takeover can be done within weeks only. It helps the company’s management in saving time as well as effort.”

Will be intresting to see how long it takes too..

Just noticed the delayed £20k buy from Friday… surly not punt money? :)

22-Sep-23 13:01:09 2.55 780,177 Unknown* 2.20 2.40 19.89k

AGM today, news could drop at anytime not necessary today, would be nice though

Wasn’t it a UT?