Member Info for philg65

Unless FG pulls a rabbit bathed in gold (and that will be welcome based on the current price of gold) then I'm not convinced with what's being achieved.

I work with clients heavily involved in Crypto currency and it will be the way forward especially with Blockchain as the key. It might not be Bitcoin but we should be actively involved in mining it now.

FG has been at the helm for over four years now, so I will give it until the end of the year before the re-evaluating.

RKB, appreciate all your hard work here and you're obviously disappointed with the current results. FG should be actively engaging yourself for advice etc as I believe he needs some alternative input/advice.

That's if they ever ship it as it might be another false promise!!!

Prime,

As you quite rightly point out, it will be in Ruyi's interest to send contracts our way as they get cost effective manufacturing and will certainly enhance their long term investment.

I would hope by year end we will see nearer 5p plus.

Unless we get news of a big contract win!!!

hxxp://www.stockmarketwire.com/article/6467932/Bagir-reports-strong-start-to-year-grants-Shandong-Ruyi-more-time-to-acquire-53-point-7pct-stake.html

From Proactive investors:

Shares in tailoring innovator Bagir Group Ltd (LON:BAGR) unravelled to an all-time low on Wednesday, dropping more than 20% to 1p, before rebounding to 1.27p in early afternoon trading.

The Israel-headquartered group, which has been waiting for the bulk of a promised US$16.5mln investment from Chinese textiles giant Shandong Ruyi since February, has pushed back the deadline for the transaction for a second time.

Discussions over the last few days in Beijing with senior management, Bagir directors have “been persuaded of Shandong Ruyi's intention to complete the transaction and commitment to provide valuable operational support to the Company on the run up to the extended completion date and as previously agreed”.

Adam, asking an AIM company to be transparent....good luck.

Ruyi just want to see better performance from this board esp after they hand over more equipment and extend CC terms.

Taff...you sold out then!

NtoM,

Exactly, Ruyi want to see better figures hence the free equipment and CC terms. I'm sure they will provide some links to further contract wins.

Agreed, it has to be a way for the Chinese to provide the necessary hardware to generate maximum output.

I'm sure it's an evaluation exercise to see how much revenue Bagir can generate with the bonus equipment by end of March 2020. I'm sure Ruyi will also be active in assisting new contract wins.

Who said it will be extended again....spot on.

So at least we get favourable credit terms and the machinery .....will that be extended!!.

So why are they stalling....perhaps to see if this business can turn things around on their own with what it already has plus the added bonus of extra equipment etc!

Quick, as I've stated on on here before, to use the phrase "some changes" as opposed to "significant changes" in the last RNS, says that it should only be cosmetic and also the short extension timescales. However, you inference about big businesses is not far off the mark (from my own experience).

I would hope that the current board realise that without Ruyi it's going to be a tough time even with £30m plus back orders. Fingers X but I'm hoping that sense prevails for all.

Rubbish. Where did you dig that up about returning their deposit. It's already in Bagir's Bank account. So when you're ask to pay a deposit for an item (car, furniture etc) and you don't pay up the rest, then you kiss goodbye to the deposit. That's what it's designed for!!!

Some fool has bought at 13:35 and sold at 14:22 for a loss. Now that sums up pure stupidity!

I wish they just put us out of our misery and say....we have renegotiated but paying less...here's the money. They'll have the majority stakeholding so they can crack on with it, unless they want it all and back in private hands!

If the Chinese renege on the deal then I'll hold them in a different light....no more takeaways for me!!

For just a short extension, it can't be too complicated to sort out the changes. Surely, Ruyi wouldn't promise additional machinery and then have a brainwave to screw us over last-minute.com. Also, why sacrifice £3m deposit as they have very deep pockets so surely it's their best interest to see it through and take advantage of the cheapest manufacturing locations.

Either the Chinese want to pay less than the remainder originally agreed or a full buyout.

As with the amount of share percentage that they will inherit (54% , if I recall), why not just stick with the majority shareholding as they still have the majority.....unless they want to increase that amount by X amount based on current exchange rates. Personally, I think they just want to pay less than originally agreed by factor of X. It's so obvious that the current board need Ruyi, so not to accept maybe seriously detrimental. The last line of the last RNS says it all......

"The Board have agreed to this short extension due to the potential benefits that the strategic partnership might still have on the Company and its future prospects with all of Bagir's rights reserved"

only a short extension, as if anything major then surely it would be alot longer. Some changes as opposed to significant changes.

If the board walked away without consulting shareholders then surely we can invoke an EGM to discuss!?

Unless it's a major change in the T&C'S and with the current directors very keen to have Ruyi on board, then I can't see them saying No.

If they have to give a bigger piece of the pie away, then so be it. They must see that the future will provide significantly better rewards with Ruyi leading the way.

The tone is a standard response and you wouldn't expect the board to say..."we're a little miffed but no worries". I still believe that if it was a major change then they would have used the correct terminology (similar to Oil prospects).

As already debated, the RNS does state "some" changes as opposed to "significant" , so it can't be insurmountable to agree with what has been requested by Ruyi. Unless they didn't consider the wording of the RNS!