Member Info for Ssccss

And to top it all off, some of licence was paid. Can't even believe what is written in any of these RNSs. They just keep back tracking and pivoting...any yet no real action yet apart from RMD getting more entrenched in ppp.

Jack, I certainly would be writing your money off and if it comes back then that's a bonus. But TE, DL, SL and now RMD have all played a blinder and they will all walk away with something of value. We however, are likely to walk away empty handed.

So zag are you admitting the rto would have been 80/90% dilution?

What words has spinks said?

Zag, are you daft? There is really not much difference for us. At the moment we have creditor risk and option for RMD to convert all their debt to equity if the special resolution passes (75%). I feel like this is looking unlikely, hence the need for this RNS.

Zag, this will not be coming back anytime soon. Read the rns again. However, they are putting pressure on shareholders to vote yes. Obviously. That's the main purpose of the RNS. As expected.

Yes, delta rto still on the table. They were very clear about that. They are trying to make it more palatable for shareholders in terms of optics, but substance wise the CLNs are screwing us anyway.

So...looks like a warning that this might not come back at all and might jsut be cancelled.

Re-admission risk: the FCA may still refuse a return to trading, and cancellation remains a possible outcome.

CLN structure problem: the earlier RMD loan-note arrangements are already in breach of their intended mechanics because the December 2025 shareholder resolution needed to permit conversion was not passed.

Routes to RMD conrtol without rto:

Route 1: equity control later

If shareholders eventually approve the necessary authorities, RMD could convert debt into equity. With CLN1, CLN2 and CLN3, that could become a large position, especially because CLN3 has a much lower conversion price of 2.2p.

Route 2: creditor/security control if PPP cannot regularise the situation

Because the CLNs are described as secured, and because PPP is already admitting breach, the lender’s leverage is not only about future conversion. It is also about what rights exist under the security package if defaults persist or worsen.

So the basics...

- CLN3 is a third secured convertible loan note for £325,000 from RMD.

-Interest is 6%, initially 12% until shareholders approve resolutions giving directors authority to issue shares on conversion.

-PPP is already in breach of its obligations under the earlier CLNs announced on 25 September 2025 and 28 January 2026, because the required December 2025 shareholder resolution was not approved.

-As a result, RMD cannot currently convert debt into equity even if it wants to.

-Derrickson is both PPP chairman and owner/president of RMD Group, so CLN3 is a related party transaction.

A lot to digest in this RNS...

True. Very frustrating that we still have no idea when it will start trading again. It will be 2 years before we know it. Madness.

I don't know why I didn't filter you all before haha. So much better.

Couldn't agree more Chamoo

public forum after all. try it. just filter me and be done with it. or is it more that you actually just want to shut me up. tough ****.

Oh dear, I see a lot of green boxes. Sorry had to filter you all as I just found you too frustrating. So know I can post in peace :)

There are none so blind as those who will not see.

InvestMaestro, honestly your time is wasted on them. They can't do the maths or they just won't let themselves see the reality of the situation. This board is a total joke. Anyone with any sense seems to have deserted.

All you guys do is post abuse at people. Bet your mothers are proud.

So what is Zags excuse haha

Delta, I have tried explaining RTOs to spod before. No joy.