Member Info for Poleaxe

Does anyone still hold RGD? The ABF IMS today looked pretty bleak on sugar. I think RGD could have some serious difficulties if the BS dispute doesn't get resolved in their favour. If it goes the other way I suppose RGD will bounce. Surely an announcement soon?

According to bakeryinfo.co.uk the BS dispute should be resolved by early next month. I've no idea how reliable their info is but, if true, perhaps results (and fund raising?) will be timed to follow.

I don't think the trading statement was good but, at £31.5m, net debt was not as high as I thought it might be. However, debt normally increases in the coming months and I wouldn't be surprised to see it top £40m. I'm therefore still of the opinion that they'll attempt a fund raising, possibly within weeks. As for Immingham, can they obtain the best source price from a supplier who is also a major shareholder?

This thread came up when I did a recent Google search on RGD. Up until then I wasn't aware that lse.co.uk had a share chat forum. In due course I may post on other companies. I take an interest in the fortunes, or otherwise, of several companies, not just those I'm invested in. With some, especially those listed on the cesspit called AIM, it's like a serialised drama and I find it fun to try and anticipate how the plot will develop! I assume you're invested in RGD. What's your view? Do you think they will survive the year without raising further cash?

legobrickgirl, I have no position in RGD, long or short, although if I did I'd rather be short than long. Think about cash flow and the impact of having to pay more than they'd planned for stock. How close are they to breaching banking covenants? It seems to me they'll have to raise funds somehow soon. Perhaps via a share issue or a disposal. Note the appointment Daniel Stewart as joint broker a couple of months ago. What's that about? Have you considered management, looked at the history of other AIM companies Pieter Totté has headed up e.g. Hill Station, Aquabella?

I'm surprised that IC considered it a buy at 51p. They don't seem to mention cash flow. Cash must be getting pretty tight now. The Immingham hub won't help in time and that may not be all it's cracked up to be. So I suspect they'll have to be some form of fund raising in the not too distant future, possibly the next couple of months. Otherwise it's goodnight Vienna! Perhaps it will allow Omnicane to increase their stake beyond 30%.