Member Info for Padfoot1962

Moonwalk, for me it's not so much the Warrants, it's more sticking it to TB and his cronies, who thought that we were all a bunch of F**kwits...

Hi Steve124

Sorry, I've just seen your post...Responses below:
I keep reading the old BOD (ex GC) have sold all their shares so presumably they can no longer vote yes to the warrants?
TB has certainly sold out his shareholding (This is not to say that IMHO, that there are no 'In Favour' holdings held in other vehicles, that might be used to support him). Otherwise, no share, no vote.

I completely understand why we need to vote them down but wondering who is going to vote them in if they are no longer shareholders?
£5m was raised before Christmas, via what was essentially a closed shop placing to significant Investment/Angel vehicles, and at a discount of 27% of the share price at the time. This is where there may be volume votes for the authenticating teh Warrants, including TB's allocation of Warrants. These Warrants are actionable at a 2p SP. These Warrants are subject to shareholder agreement before being allowed.

Is the default position yes to the warrants until 25% say no? Do they just benefit the old BoD?
These Warrants will only benefit those that were offered the recent RMS placing; and as far as I am aware, not one single PI was offered access to this recent placing and Warrants.

It's a stitch up of PI's. Discount of 27% to cronies, and the chance of doubling their money, once Warrants are admitted to the AIM.

Here is a relevant part of an RNS:
Warrants

The Company will issue participants in the Placing, one warrant for every Placing Share (the "Warrants"). As a result, 400,000,000 Warrants will be issued to placees pursuant to the Placing and subject to approval of the necessary authorities at the Company General Meeting ("GM") which will be scheduled for January 2021 (details of which are to be announced).

Each Warrant will provide the holder the right to one new Ordinary Share on its exercise. The Warrants will be exercisable at a price of 2p for a three month period from the date of the GM, subject to any extension in accordance with the Warrant instrument. In addition the Company is issuing a further 10,000,000 warrants to each of Peterhouse and SP Angel (the "Broker Warrants") on the same terms as the Warrants and subject to approval at the GM.

If exercised in full, the Warrants and Broker Warrants would result in the issue of a further 420,000,000 new Ordinary Shares.

AIM Application and Total Voting Rights

Application has been made for the admission to trading on AIM of the 400,000,000 Placing Shares with dealings expected to commence on or around 23 December 2020.

Thank you Radika, and I wish you the same if you do invest in RMS...Some great IP here, some yet to be monetised...DYOR

Sgee...Very much appreciated.

Thank you Floid52...Much simpler! ;)

Apologies, that message was actually in response to your question nidgeyr.

Hi Radika

Basically the Warrants (if allowed to stand), will dilute PI's shareholdings.

When you email Nathan, simply say that you "wish to support Dr. Cave, and that you intend to vote against the Warrants." Nathan will then email you some documents, one of which you complete, scan and return via email, to register your name and number of shares you hold. This helps Egremont assess the current level of PI support.

If you need it, here is Nathan's number: M +44 (0) 7577 055720 T +44 (0) 203 697 9495

Here is the text of the latest email from Nathan:
Dear Supporter,

We have still not had any notification of the timing of the General Meeting, but we expect it to be announced imminently. The good news is that there appears to be enough support to defeat the warrant resolution, but only if you all ask your platforms to submit proxies to vote against. Verified supporters account for nearly 16% of the issued share capital spread across 392 shareholders. In total we have been contacted by 650 shareholders accounting for over a quarter of the company’s shares. If shareholders submit proxies, 25.1% of the shares voting against will block the warrants. There is huge strength in numbers here if you can harness it.

To assist you in voting against the warrant issue we have compiled the attached summary of how to lodge a proxy vote against the warrants with the main trading platforms. Please let us know if you discover any inaccuracies. As soon as we have a time for the GM and a copy of the circular, we will email out further information. If the cost of voting on your current platform is too high, then please contact us to see if we can help.

Please note, your platform will not acknowledge your vote until the General Meeting has been officially announced, we suggest waiting until this point to contact your platform unless it is to make an enquiry on how to vote with them.

Thank you for your support.

Kind regards,

Nathan Ahmad

Morning.
We are moving very close to the time for voting on the Warrants, Egremont expect a date to be announced soon.

Dr. C. and his true colleagues have acted as Lions (chasing out of RMS), a bunch of Jackals and Carpetbaggers. The actions of Dr. C. et al and in alliance with us as PI's, really has been impressive so far, and also swift. When Dr. C. took action (with Egremont) against the three crooked Amigos, this decent Man then faced slander, accusation and threats from that scumbag TB...Absolutely disgusting behaviour from TB, but not unexpected, but this behaviour was also directed at all decent stakeholders and PI's.

I am glad that we have not yet seen more RNS's released, we know how the last batch of RNS's were used by the previously crooked BOD to fleece PI's. This new BOD will want to assess the business landscape, and will be mindful of the need for good governance and the forward looking needs of the businesses. For me, no news is good news at present.

Remember the old adage: Money moves from the impatient to the patient.

If you hold positions in RMS, but you have not yet notified Egremont that you will be supporting the voting down of the Warrants (and assuming that you wish to vote these Warrants down), then I would urge you to do so without delay. EVERY SINGLE VOTE COUNTS.

If you find the cost of voting on your investment platform is onerous, then let Nathan know at Egremont asap, waste no time. nathan.ahmad@egremont.com

It would be such a great result and a sharp farewell kick up TB's A**E, if we further take back our sovereignty as PI's, by voting down and out, the Warrants.

ATB.

Nice post Listez82...A pleasure to read

These appointments bode well for the future of RMS, and we now appear to be in good hands all round; except that John Richardson is still lurking in the shadows, although I expect that he has as much clout as a wet paper hammer.

RMS has a lot of potential in a number of areas (not just masks), and with some impressive IP in-house. What we need is development and commercialisation of these developing assets, and Bingo! From this morning's RMS, this on the face of it, appears to be what where we are headed, and under Good Governance. It shows how much of a positive affect we as PI's can have on a company's direction, if we pull together. Well done Dr. C....Now the Warrants issue to tackle.

Richard Clarke: "...For several years, he served on the Corporate Governance Committee of the Institute of Chartered Accountants in England and Wales."

Antony Legge: "...spent many years acting as a corporate finance advisor including as a nominated adviser to AIM Companies..."
"The challenge for the new board will be to effectively utilise the resources from the recent placing to commercialise the Group's intellectual property assets across all the businesses, most of which are still at an early stage in their development, in order to meet current valuation expectations."

Cavendish, I'm on your side, but in reality these Warrants are very likely to stay in place. It may actually be a bigger headache on the SP if they could be voted down.

IMO, we need to look to maximise the existing investment available to strengthen the business, and not go spending the £5m on another company acquisition. I would imagine that this is/was part of TB's extended game play to enrich him and his cronies. Just an opinion.

My apologies, I did not intend to sound arrogant...

I'm not attacking anyone JP, far from it...

I'm simply interested in my investment, and as it happens (as it goes along with it), the interests of other PI's who hold a position in RMS.

Good Governance is absolutely required, it's no longer an option...The 3 amigos have their swag bags, and only one of them has departed with theirs over their shoulder...As PI's we should maintain pressure upon the BOD, and help steer the company forward in an ethical manner.

As a businessman, I am appalled at the whole state of the whole front facing presentation, of this potentially great company...The previous BOD's focus was on Carpetbagging...So, now let's see some radical improvements.
I shall now watch and monitor, and in due course vote, but I would suggest that PI's consider combining their strengths for any further intervention that may be necessary...Vigilance will keep the BOD on their toes.

Manifesto In all honesty, I think you just wasted a few minutes of you time...

Then we are in agreement...

Any hint of complacency, and we will get stufffed again.

JP1959 You said: "...and people should stop moaning on here now...' Patronising & grandiose verbarage.

It is the likes of Dr GC & AV, aligned with private shareholders (I am one of them), that have brought about these tentatively positive changes, so we will not shut up because you deign us to do so. This requires vigilance, and for PI's to continue to have a voice...There are still 2 crooked rats on the board.

Paul Ryan leaving is no surprise, he is the legal eagle, and so far he's not covered himself in glory...Gone before he's pushed.

Remember, at present out shareholding still stands to be significantly diluted...I want some of the £5m (gained from the PI's pain), invested at least into Marketing and R&D...The current website and marketing campaigns is a total piece of C**P, and needs addressing immediately, and such a simple thing to do.

If the current BOD stays in place (which currently, they are very likely to do so); and even potentially with AV on the board, then ask yourself honestly, whether you would have the innate trust to continue to invest into RMS. There will be a ticking time bomb with these 3 crooked rats still in situ, whose real intentions will not have changed. They are Carpetbaggers, pure and simple.

It's all very well saying that the SP will fly etc, once the machine starts turning, but that is only partly the goal of this potentially very valuable company, and with an eminent USP in Dr. G.
Many AIM companies attract investment because they present LONGER TERM potential, with many yet to turn over more than a few bucks. The approximate £5.5m in the bank, presents an opportunity to ramp up investment in marketing and R&D alone, even if nothing else; and with good governance of RMS, it could position itself well in this era of COVID.

These 3 amigos own NOT ONE SINGLE share between them, they could care less about the company, and even less about it's private investors. Any future success by RMS, will be MONETISED by these clowns for personal gain, and they will laugh at us as they sail off into the sunset. They need to P**S Off.

pops, you sound like Mystic Meg...and your added serving of..."I told you so..." makes you sound so saintly...

You seem to miss the point...If one pays attention to the manipulation prior to (and after) the BOD SOLD their TOTAL holdings, including the ramping and deramping RNS's, then you might realise that this is the unacceptable face of Directorship, and what should have been Good & Proper Governance...AIM, although risky to play, it is not the Wild West of investing, and these crooks need to be drawn further into spotlight...I'm already convinced that they are on the radars of institutional investors, and seen as Lepers

Totally...All this spouted nonsense from posters who likely hold no shares themselves, while advocating to allow these 3 NON Shareholding amigos to shaft PI's...Take one look at the make -up of the three:
1. COO: This one's a simple stooge, put in place to do as he is told...He could have been better served in reforming the Crankies
2. Non-exec Chairman: This one's cute (And I don't mean that in a Homo Erotic way); he's the one who helps steer the Pirates Ship through the choppy waters of Legalise; whenever they know that they are about to hit the legal rocks, he provides the dodgy ammunition to blow the rocks out of the water
3. Exec Director: Ah, last but not least, the real Captain of the Ship, the real mover and (insider) shaker...Who invariably likes to Roger the Cabin Boys (Otherwise known as PI's)

Rotten to the core, the lot of them. And I'm used to the risks and rewards of AIM investing and all sorts of assets, but I draw the line at having a cudgel shoved up my A**E

Jp1959 What Dr. G needs is some negotiating power, otherwise he's going into talks against a bunch of Carpetbaggers, who would otherwise laugh him out of the room.

And of course, a negotiated and favourable deal is then more likely; otherwise as PI's, we will get stuffed further by a BOD who HOLD NO SHARES! The good Dr already has my 3.5m shares on their side, and I'm grateful that DR. G & Alex V for challenging these 1980's throw-backs.