RCG Share Discussion Threads

[robertfaulkner] 19/12/2012 08:50

RNS today on resumption of share trading in AZEM in HK

Part of notice below. Can you believe the arrogance of the management to say this HK police investigation into fraud has had no "impact" ON BUSINESS OR ASSETS




EFFECT ON BUSINESS
The CCB search and production order have had no impact whatsoever on the business or assets of the Company.
The Board believes that the CCB investigation will not materially and adversely affect its business, assets and operations.

[robertfaulkner] 19/12/2012 08:50

RNS today on resumption of share trading in AZEM in HK

Part of notice below. Can you believe the arrogance of the management to say this HK police investigation into fraud has had no "impact" ON BUSINESS OR ASSETS

unless there are no sales and the company is already worth nothing




EFFECT ON BUSINESS
The CCB search and production order have had no impact whatsoever on the business or assets of the Company.
The Board believes that the CCB investigation will not materially and adversely affect its business, assets and operations.

[mister md] 19/12/2012 08:15

'Based on the evidence so far the Company's independent non-executive Directors and audit committee have concluded that there is nothing in that evidence to establish that the CCB's investigation is related to the Company and/or any of its Directors, or misconduct by the Company or its staff and subsidiaries. '



maybe they just popped round for a coffee then ?

[robertfaulkner] 18/12/2012 18:11

320k of shares bought today in 5 trades.

[robertfaulkner] 18/12/2012 18:08

All OK, up 21% today

Rcg will be over a 100p next year, sorry I mean the company will be worth £1 next year

[deanroberthunt] 17/12/2012 10:05

Ah, isn't AIM wonderful...

[robertfaulkner] 05/12/2012 09:36

You can buy them for under 1p now (not just sell them for under 1p)

[robertfaulkner] 02/12/2012 15:33

Are RCG even open for selling their products, I'm sure they will take orders on a pro former basis but no goods will ever be dispatched.

Would be interesting to send an email buying query about purchasing one of their identification products to the value of £50k and see if you get back anything more than an automated email response

[longsight] 26/11/2012 18:50

RCG's website still not available. Utterly remarkable that the shares are not suspended in London - yet are in HK.

[melton john] 14/11/2012 11:29

Well done for staying on the case. It might help stop someone being suckered into these.

[robertfaulkner] 14/11/2012 08:48

And still Selftrade would sell me RCG shares at 1.48p, surprisingly I decided not to buy them

[robertfaulkner] 14/11/2012 08:40

I thought Wang was getting HK$ 1.8 mil but they have inc the cents so it's HK$180.000 which is around £15k a year.

Must be a scam to pay someone's son a bit of spending money.

Would RCG's bankers still be extending their overdraft?

I suppose they could always do another deeply discounted rights issue, I wonder how many new shares at 0.01p they would have to issue and sell to pay Wang's directors fee for just a month? (12.5 million I make it)

[longsight] 13/11/2012 13:04

News out

Wang in. Chong has resigned.

The Co has never recovered since the exit of Lord Chu

[longsight] 13/11/2012 12:55

There is still no functioning RCG website. I assume the business is no longer trading. I very much doubt this will ever come off suspension in HK. Just why is this still trading on AIM. Unbelievable.

[robertfaulkner] 07/11/2012 17:36

today 21k shares bought, 238k sold and the price went up?????

I have(at close) Buy at 1.85p up 0.575p = 45% increase

Sell at 1.84p

[robertfaulkner] 02/11/2012 08:43

And still we can buy shares in RCG????????????

[robertfaulkner] 31/10/2012 15:47

SOME IDOIT BOUGHT 10,000 AT 1.8P TODAY

I suppose it's only £180

[robertfaulkner] 26/10/2012 08:38

Unbelievably I can still buy RCG shares from Selftrade

£100 would buy me 7255 shares after commision @ 1.2p a share

To sell them back to Selftrade they would pay me 0.5p a share, so I would need to sell 3000 shares to cover the commission

[robertfaulkner] 26/10/2012 08:29

Ricardo, they are sub penny shares, if you want to sell RCG you would get less than 1p a share.

In fact to cover your £15 commission change you would need to sell around 2000 shares

[ricardo125] 25/10/2012 11:48

Well it really is a penny share now, currently less than £1, long gone are the heady days when most believed in this company.

[thefozzer] 22/10/2012 16:04

The RCG boys and girl were funding their lavish lifestyles with shareholders money. The plan was for Chan to get his hands on Nina's booty and for the whole thing to be covered up.

[robertfaulkner] 20/10/2012 17:33

Thanks Typo, not as easy as it looks

[typo56] 20/10/2012 14:28

RobertFaulkner,

If you hold an RCG short with IG and RCG goes completely bust then they should eventually close you out at zero. However, how and when it's handled may depend upon whether you have a short through a spread bet (or other contract where they make the market), or whether you hold through a direct market access CFD.

It may take many months, during which time you could find you have margin tied up and are being charged interest and stock borrow fees. This year I've been closed at zero on several shorts with IG, including DTZ and BSLA. I have just been closed on CC., which is pretty prompt at about 3 months following administration.

It's worse if a company simply delists. It took me over two years to get closed at zero on EEL and then I only got closed because MF Global (who the contract was with) went bust. The MFG administrators, KPMG, agreed that the EEL position was nil value. If MF Global were still trading I suspect I'd still be stuck in that position.

[greek islander] 20/10/2012 12:54

and effectively some of the cash that you and I pumped in to RCG over the years