RCG Share Discussion Threads

[fft] 30/5/2013 14:56

more like No Chance and Basket Case....

[mister md] 30/5/2013 14:45

how about 'Vast Chance' and 'Best Base' ?

[fft] 30/5/2013 14:29

Oh no ! They have identified new ventures to invest in and see no return ! wonder what the new companies they invest in will be called this time ? any advance on Chance Best or Vast Base ?


"The Board believes that, the proceeds of the Placing will allow the Company to pursue the identified new business opportunities. This further gives the Company additional capacity and capability to capture future expansion and acquisition growth opportunities as and when they arise. It also believes that the strategy of pursuing longer term, larger contracts will enhance the Company's trading in the future and thereby improve shareholder value. In addition, the Placing will broaden the Company's Shareholder base

[mister md] 30/5/2013 13:10

placing at 3p LOL !

There are many companies that have given AIM a bad name, and this is certainly one of them

[ricardo125] 29/5/2013 17:33

Anyone still invested here ?

[robertfaulkner] 18/4/2013 08:05

Is it still being traded? Many days no volume at all

[typo56] 30/3/2013 16:10

The company don't even state the name of the purchaser (an individual). Still at least shareholders con be satisfied that "The Directors are of the view that the terms of the Disposal are fair and reasonable and the Disposal is in the interests of the Company and its shareholders as a whole."

So not a related party transaction then?

[robertfaulkner] 30/3/2013 15:40

From final results RNS 28/3/13

I'm no accountant but this looks like I Century (a bit being sold off) made a profit of HK$560k in 31st Dec 11(for past year) RCG having bought it 1 month earlier in Nov 11

By 31st Dec 12 RCG having owned it for 13 months managed to turn the HK$560k profit into a loss of HK$573k remember LOSS

Either RCG misread their accounts of I Century and it was a loss when it bought it of HK$560k which only increased to a loss of HK$573k or they really deserve the prize of being able to turn gold into water



On 28 March 2013, the Board announced that on 27 March 2013, Sharp Asia
International Limited ("Sharp Asia"), an indirect wholly-owned subsidiary of the Company, entered into a sale and purchase agreements pursuant to which Sharp Asia agreed to dispose of its 25% equity interest in I-Century Limited ("I-Century") for an aggregate consideration of HK$29 million (approximately GBP2.46 million). I-Century is principally engaged in the business of language translation and localization services in Hong Kong and was acquired by the Group on November 2011 for a total consideration of HK$28,977,000. The unaudited net asset value of I-Century as at 31 December 2011 and 31 December 2012 were approximately HK$481,000 and HK$3,000 respectively. The net profits/(loss) before and after taxation and extraordinary items of I-Century for the year ended 31 December 2011 and 31 December 2012 were approximately HK$569,000 and HK$(573,000) respectively. The book value of the Group's investment in I-Century in its group accounts for the year ended 31 December 2012 was HK$28,912,000, which also included a liability in relation to the Promissory Note of HK$10,500,000

[mister md] 13/3/2013 09:18

" revenues.. decreased significantly... margin pressure ... lower selling prices ... increased competition, rising cost of sales. higher negative gross margin.. reviewing the level of impairment provisions against the carrying value of trade receivables and stocks. ... a net loss position for the full year ended 31 December 2012 of the same order of magnitude as the previous year.
Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company. "


just a brief extract from their statement.

[melton john] 11/3/2013 18:32

Last line of trading update "Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company".
Damn right

[boros10] 11/3/2013 14:13

So they are getting away from a low margin distrbution business model (see RNS). Funny, because in the "good old days" the Company always reported operating margins of more than 30%!!

[hugepants] 11/3/2013 13:15

This update looks better than some others from this company. Still truly awful though.

[melton john] 01/3/2013 09:54

If you look at the historical trade info, it looks like a bit of manipulation to work the price up on tiny volume. Huge spread makes buying and selling at a profit impossible. Somebody's fishing for a mug punter or two to start a spike to sell into imho. I'm all for optimism but really.

[adieadie] 28/2/2013 09:00

wow, didnt look here for a while.. it was a penny !!! haha, so obviously a dodgy business, i remember making a few quid on this and selling at 80p :) happy days

[melton john] 10/1/2013 11:53

I just happened upon this sham annual report and no prizes for guessing which company it reminded me of.

[robertfaulkner] 02/1/2013 08:53

Who would have thought this dog would have limped into 2013?

[robertfaulkner] 20/12/2012 09:15

I'm surprised that the share price in HK didn't collapse as it was the first time for months they have been able to trade.

I suppose the price is so low, it's not worth selling, for the tiny proportion they would get back

[boros10] 19/12/2012 22:16

Management doth protest its innocence rather too much.

So fortunate for management that the shell companies were sold to an independent third party thereby placing some of the information being sought by investigators out of reach for the time being.

Odd how RCG managed to find buyers for companies with no assets, revenues or employees.

[robertfaulkner] 19/12/2012 10:29

Agree Longsight, but IG Index has RCG up 221%. Admittedly only from 2p to 3p


You could sell at 2.99p(now) and could have bought for under 1p a few weeks ago

[longsight] 19/12/2012 09:03

Hurrah! / lol

Since they confirm that all these subsidiaries no longer make any sales, they flogged off their consumer biometrics stuff, the website is still down - does this Co sell anything?

The RNS is remarkable in its evasion. I wd suppose that current directors may have had no part in the acquisition of these valueless subsids - but of course the RNS makes no reference to the Drs who did - Chu etc etc

Completely unclear if RCG is trading & if it is then what is it selling?

[robertfaulkner] 19/12/2012 09:00

So they are guilty of sheer incompetence not fraud

[robertfaulkner] 19/12/2012 08:57

More from RNS They know nothing, as Manuel of Fawlty Towers would
have said



REASONS FOR CCB INVESTIGATION
Every Director attended a board meeting on 21 September 2012, the day after the execution of the search warrant by the CCB and the Directors confirmed that they had no knowledge about the matter raised by the CCB search warrant and that to the best of their knowledge they are not being investigated, and have not been asked by the CCB to assist in the investigation. The Directors confirm that they still have no knowledge about the matter raised by the CCB search warrant and that to the best of their knowledge they are not being investigated, and have not been asked by the CCB to assist in the investigation.
Having made reasonable enquiries, including reviewing a letter from the CCB in reply to questions asked of the CCB, the Company does not know the reasons for and details of the CCB investigation. The Company cannot say categorically that the CCB investigation to which the warrant relates is not related to the Company and/or any of its Directors. Based on the production order and the information available to the Company the Board believes that the CCB investigation is related only to the Former Subsidiaries and A-1 Development Inc. The Company understands that there have been no related charges or arrests made by the CCB