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Ringprop Share Discussion Threads
Showing 1126 to 1148 of 1150 messages
|Well done. I'm still trying to sort out my NW payment - I'm a Crest Personal Member and it seems it's lost in Crest somewhere. Not losing sleep over it, lol.|
|Just got a credit for £9.90 from my broker - yipee do!|
|I expect the liquidators got a fair chunk too. Last time I spoke to them they gave the impression simultaneously of working to complete an asset sale and of not having taken the dossier out of the drawer for months. They certainly weren't bothered about sorting it quickly.
A sorry tale all round.
Incidentally, for other holders, one of my accounts, Squaregain, has already paid this out, but another, Natwest (effectively TDW) seems to have lost track of it so I'm having to chase them. Trivial sums but no point in throwing it away.|
|So less than £80K was left in the kitty.
Didn't the management do well...
|Only just noticed this in one of my accounts, dated 7/11/07. 1p per share...
Terms: Liquidation :- At the extraordinary general meeting of Ringprop Plc held on the 13 February 2007 the shareholders voted in favour of the winding-up of the company. Please be advised the resulting cash proceeds of £0.00990474 per ordinary share will be credited to your cash account shortly.
BDO sent out a circular 26/02/2007:
To all shareholders
Ringprop Plc - in liquidation
I was appointed joint liquidator of the above company on 13 February 2007 at an Extraordinary General meeting of members.
The level of the eventual return to shareholders is materially dependent upon the eventual realisation of the Intellectual Property owned by the Ringprop group.
Should you have any interest in acquiring these assets, or know anybody that may have an interest in acquiring these assets, please do not hesitate to get in contact.
A H Beckingham
[023 8088 1700 Please ask for A Morgan Email:firstname.lastname@example.org]
So they obviously haven't found a buyer. We'll be lucky to get anything at all from this after the liquidators have paid themselves and settled outstanding directors' fees, lol.|
|Any news Update ..what happened at the EGM of shareholders of Ringprop plc held on 13 February 2007, can someone give insight ???|
|VOLUNTARY WINDING UP AND APPOINTMENT OF LIQUIDATORS We have received
notification of an EGM of shareholders of Ringprop plc to be held on 13 February 2007 at which it will
be proposed that the Company be wound up voluntarily and Messrs Andrew Howard Buckingham and
Dermot Brendan Coakley of BDO Stoy Hayward LLP in Southampton be appointed as Joint Liquidators.
Further information may follow in due course.|
|can someone please give us any update wots happeneing with one. I cant find any news update.
|Did anyone go to the AGM?|
|Looks like ringprop is sill on sale.
RingProp Propeller - 9.8" x 12.7" (Diameter x Pitch)
Overton's Item # 74129
The new force in marine propulsion! The ringed 3-blade aluminum RingProp is the result of years of research and development and the evolution of advanced computer modeling. The patented aerofoil ring shields the prop blade tips from swimmers and marine life. RingProp offers improved thrust by controlling the directional flow of the water with the ring rather than the blade edge. Torque steer, the tendency for the boat to steer in the direction of the prop rotation, is eliminated. RingProp also helps to eliminate the fouling of anchor ropes and lines caused by exposed prop tips. Engines - Mercury 40-60 hp 2-stroke ('77 and up) Honda 40-50 hp 4-stroke ('95 and up).
Contact our technical representatives at 1-888-OVERTON or email@example.com. Be sure to reference the Overton's item number.
|supernumerary:>: Correct re AGM if Directors not up for reelection - depends on the agenda. However I have come to the conclusion that there is very little value left (if any) save possibly the IP (purchase of this might be a useful insurance policy against potential claims for breach of patent/s) if an entrepreneur had thoughts of resurrecting the concept. However I strongly suspect that the ring concept may not be a practical solution with current materials. I therefore do not intend to take any further action.|
|fez / pug
I haven't seen the papers and don't suppose I shall before the agm but surely if the directors aren't up for reelection it would need a special resolution to get rid of them? Frankly the game doesn't seem worth the candle to me - I was hoping for 5p a share, but have now written it off completely, and can see no point in wasting time and energy chasing odd pennies. If someone comes forward with a concrete practical proposal I'll back it as best I can, but until that happens (and I see no prospect at the moment) I'm a spectator here.
the last time I talked to Don Hoult (just after he sent out his last missive) he said that he had no desire to talk to the liquidators and washed his hands of the whole business. I don't know what if anything he's done since, but he gave me the impression at the time of having no credible idea of how rpp might move forward, and without that, even if he wanted to, he couldn't advance matters constructively.|
|I had totally convinced myself that the "Product"and thus the Company would be bailed out,albeit with new Management.
It is obvious that the overall problems are far beyond what I was told in several discussions with Management.
I wont be going as I dont care for funerals,and can only hope that there
will be some final funds for return.I was convinced they would raise a bit beyond £1 Million ie: 18p per share-but even that maybe pie in the sky.
Does Don-Hoult now ever say anything on the Michael Walters site,where he
apparently made his original statements ?|
|If there is any value left, and if a sale of assets is not completed by the time of the AGM, it would (imo) be theoretically possible to kick out the board and restructure or take private. This is of course subject to the cash and IP positions.
I am tempted but do not have the time -|
|So anyone gonna use their proxy vote to boot out Mulhall & Sweet-Escott??|
|I`ve mentally written it off and never believed I would have to.
What a tragic waste of a great potential product-plus it has cost me 50k-thats life and the result of the odd pure gamble.
Will I never,say never-again.
You win some.|
|28th December! Surprised it wasn't last thing on the 31st just to absolutely guarantee nobody turned up to tell them what they think of them. What a shower!
Don't suppose anybody will be going? Out of the country myself else it would certainly be on the calendar...|
06 December 2006
Notice of AGM
The Annual General Meeting of RingProp plc, 'the Company', will be held at the
offices of Thomas Eggar, The Corn Exchange, Baffins Lane, Chichester, PO19 1GE
on 28th December at 11.00am.
The board does not expect the shares of RingProp plc to be restored to trading
and intends to seek, subject to shareholder approval, a members' voluntary
liquidation in the New Year.|
|richgit - I sincerely hope the directors are doing absolutely nothing and drawing a commensurate salary! I fear however that the single thing they'll see through to completion is the spending of shareholders' funds!
I see you've joined us over at bprg - happier days there - what a difference a competent management team makes...|
|Liveheart - I hear there was some argument about patent rights and the lawyers have been called in. If that's the case it should just about exhaust the last of any remaining funds. I've certainly written this one off to zero.|
|No news yet?? its frustrating........to wait|