An alternate view18 Feb 2018 01:56
Despite the fact that LSE�s favourite ramper was telling everyone that would listen that it would be multi-bagging for fun at Red Leopard Holdings (RLH), it bowed to the inevitable today and announced that it hadn�t managed to get the deal done within the six months� time limit and its listing will be cancelled. It will keep trying, mind.
I was critical of the incredible ramping by LSE�s resident Scot (HERE) and feel sorry for anyone who was suckered in. When Red Leopard went into suspension last August, I was asked whether I thought the $180 million coal mining project in Colombia would happen and my comment at the time was as follows:
�I think it's unlikely but not impossible just doubt many people really care as assume those that have made money are moving on to something like Nyota to rinse and repeat�
Accordingly, I�m not particularly surprised by today�s news.
Despite the fact that today�s announcement states that diligence is well advanced and that the company remains keen to complete the $180 million deal, anyone with any experience of this situation knows that things have now got a whole load more difficult. The one thing going for Red Leopard was its AIM listing; with that now gone, one has to start again and undertake an IPO from scratch. In that situation, there are no advantages of doing that via Red Leopard, in fact, there are disadvantages as there a whole load of unnecessary shareholders who want a slice of the pie too.
Back in August, I thought it was �unlikely but not impossible� for this deal to go ahead. I think I have to now move that down the likelihood scale a notch or two so it now sits at �Cynical Bear�s chance of finally getting it on with Cameron Diaz� which is the penultimate step in this scale sitting just above �The chance of Worthington Group coming out of liquidation�.
In fact, I�ll be honest, I actually thought it was game over here a long time ago on the day that Chris Akers changed his Twitter avatar from a leopard with a red tinge to a fluffy unicorn. I mean, when the main man has taken such a drastic step, what hope was there?
The thing about this all that I find most disheartening though is the shocking realisation that Aberdeenman was clearly making it all up as he went along, presumably to sell out as those he seduced in were buying.
Learn something new every day!