The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Didn't mean to go over old ground, and I admit that I don't read every post, so I dare say this was speculated earlier by your good self, Pom. You know I've shared your suspicion on events post the UK launch. I've never seen an explanation that fits events. The fact that a 'disclosable' holding (Maven) sold out and the price still jumped by 200% in a share with historically low volumes is strange to say the least. However, there may be no association with a stakeholder and a potential Recordati takeover (my comment on adding value to Recordati was more specifically referring to adding value post Recordati takeover, not pre btw). Despite my frustration with the BoD, I suspect there is more to this than meets the eye. Still not ever forgiving them for the abysmal lack of communication to shareholders though.
There is an outside chance that the same suitor might just have built a stake in RP as part of a wider exercise to strengthen the ultimate value of Recordati. This would correlate with non-disclosure on the post UK launch volumes. We live in hope as the odds of any recovery are in favour of it coming from something outside the RP BoD's control.
As shareholders, we have held through numerous equity placings and restructures. Perversely, whilst we are making losses, new investors are more important to a company than existing. My feeling is that you should have a place on the board and represent the interests of private investors.
Can't see the issued share capital at the moment but my back of a fag-packet calculation tells me that 18m shares equates to about 1% and would be worth about �500k. Unless you are holding considerably more than me, I think option (b) (the first one) looks like the most effective route. May be too late for the forthcoming meeting but mindful as an option for the future though. What would you suggest we propose? Also, what are the rules on an EGM?
Bignose, only sent it yesterday and my email was far less caustic but nevertheless critical of the board behaviour. No response yet, will keep you posted.
That could explain why we haven't made much progress to date. With the apparent blunders and limping from one crisis to the next despite having a rock solid EU approved PE treatment in its pants, I'm beginning to wonder if the Regent Pacific board (aka the Muppet Show) misread the brief and have spent all of their time wining and dining international Pyjama manufacturers.
Thanks
Anybody have Jamie Gibson's email address? Also his PA please?
Bignose, I haven't manage to muster the inclination to write it yet.
This board are abysmal. With not even a whiff of any future returns in sight for shareholders, what hope is there of any capital gains? Kim Jong-un has more to do with halting the cataclysmic fall than our own board. Jamie Gibson's lack of communication is shocking and wholly reprehensible.
Not a bad idea, at least I'd be doing something positive. Will send something to JG, reworded of course, suggesting he earns his salary or at least sends us a signal that RP is still worth investing in.
Anybody got wind of sales? This is going nowhere fast...where are the new license agreements? US approval looks like it might cast out the final lifeboat for long term investors, assuming these muppets don't cock that up too. Pathetic board...no skin in the game, dredging the cash resources of a flogged to death mining company. Being paid salaries that many people will never see for doing what? Major stakeholders, Baker Brothers departed before launch, Mavern immediately after the soft launch only leaving JM to make his killing, except he's engineered things very nicely and already covered his investment. Meanwhile, we are all ignorant as we have been from the word go. We have been fed a seemingly endless string of bad news interlaced with the odd bit of good. Surely an approved product in this area should be making more impact than it is? I'm no longer bothered by what happens here, if things go well, it'll be a very pleasant windfall - that's the way I see things. But I don't expect much, I'm here because I think it is the wrong time to sell, and I'm guessing many of us feel hostage to the lacklustre share price. No doubt I'll feel differently should things improve, but for now, my daily morning routine of updating the Google Regent Pacific share price page has become tedious and verging on pointless. Wake me up when it's time to sell please.
Regent Pacific is supposed to be more than a one trick pony. It is starting to appear as though Fortacin is going to be a slow burn, possibly until we get some new partner on board for the rest of the world and then the States. Something must be happening here - I still think there's a possibility that Fortacin will be sold-off, but the lack of activity on other fronts is, how can I say, unusual for a company that should be investing in r&d type activities.... Painfully similarities... https://www.youtube.com/watch?v=0SmyATAYsNs
Looks good. Anything in the Italian press?
Some interesting trading going on here, this was a big riser late yesterday - many people would have missed that. So much going on here with a ridiculously low market capitalisation. Short term, if production rates increase, they can utilise existing refinery capacity to really drive home some oil at a very low cost per additional barrel produced. I'm very excited about the next few months and particularly the new wells and what they will find. On that point, no news at the moment is good news.....
Definitely something unusual took place.
Excellent news for the HK market to wake up to for sure! At the very least this will strengthen the balance sheet, but I'm expecting a consolidation in our share price. Such news doesn't happen very often - my alert didn't show, so it was a very pleasant surprise for me to visit this thread!!! Well done to all the holders, is St. Valentines day a coincidence?
Such is the fickle nature of these investments. But I'd rather bit be this way round - having a relatively low market capitalisation compared to potential is important to me. There are other factors at play here for sure, operating in Russia has both advantages and disadvantages. Just look at the timeline here from drilling to refining. Positive exploration news in Q2 will very quickly be reflected in the balance sheet. Couple that with demand pressures from a growing global economy, you could conclude that there may be a fare amount of cash knocking around here soon.
If next week's not an improvement then we're all doomed....
A very red day indeed - certainly nothing in my portfolio or watchlist was blue this morning, so not surprised we lost ground either, but that was quite a drop and they look very cheap this morning particularly as nothing fundamental has changed. This occasional pruning exercise is important for a healthy market as I'm sure we are all aware, and there is a huge up-side, being that there are large amounts of equity funding needing to find a new home. When all is said and done, a large number of these shares are tightly held, so market sentiment probably had a lot to do with the drop this morning, which could easily have been amplified by selling into it.