Rbg Share Discussion Threads

[quepassa] 31/1/2025 13:07

Curtains.

This disgraceful affair speaks volumes about the legal profession.

[quepassa] 31/1/2025 09:27

1.

Your words "on its own" are duly noted.

You were brave to reinvest.

2.

Another Board resignation today.

The Board is shrinking fast with no representation from either of the two main operating entities.

One can interpret today's accompanying statement as one wishes:-

"...... informed the Board of her intention to step down from the Board in September 2024 but agreed to remain on the Board while RBGH was undertaking a refinancing exercise."

One can but wonder to oneself just what that may or may not imply.


all imo. dyor.
qp

[tomtrudgian] 31/1/2025 08:42

Your hat is safe unless the vanity of Mr Rosenblatt and friends leads him to overpay for his eponymous business. As it may well.

A delisted memery on its own with new lower outgoings is likely to be profitable.

[quepassa] 30/1/2025 21:54

Tom,

Oh, no!

I'll eat my hat if this comes back from suspension.

all imo. dyor.
qp

[tomtrudgian] 30/1/2025 21:04

I agree with you shep22 of course. Indeed the audited accounts for FY 2023 showed a loss of £24m! I sold out before those results, but am perplexed as to why you consider “the entire debacle is down to one MAN”.

I have now reinvested, just before the suspension. I find it difficult to fault the difficult decisions that Divers, doubtless including Davis and others have made. Ian Rosenblatt may succeed in recovering control of the parts he considers his.

Is it likely that Memery alone cannot be profitable?

Tom Trudgian

[shep22] 30/1/2025 09:52

This business has been trading while insolvent for over a year, the entire debacle is down to one man.

[quepassa] 28/1/2025 17:09

It is interesting to peruse and ponder the Readers' Comments which are piling up on the latest article in The Law Gazette today following this morning's RNS.

The article is headed: "Rosenblatt owner on verge of collapse as rescue talks fail"

hXXps://www.lawgazette.co.uk/

ALL IMO. DYOR.
QP

[quepassa] 28/1/2025 12:12

I think you missed the bit in the RNS about "unlikely to be able to secure the funding that it requires in a timely manner".

....and what happens frequently when a hypothetical body corporate cannot get the funding it requires in a timely manner...........?


things can happen much more quickly than you suggest and without any need for shareholder meetings!


all imo. dyor.
qp

[tomtrudgian] 28/1/2025 11:51

As many will know, share suspensions are never granted lightly by the LSE and only after due representations and evidence from the Nomads. It therefore seems probable that draft terms have been agreed for a split between the Rosenblatt and Memery businesses.

That will inevitably involve changes to employment contracts, agreement of inter-company balances, bank and creditor support, the delisting of part or the whole, and much else.

It will also require special resolutions with 75% approval required from the shareholders in an Extraordinary General Meeting. Only a General Meeting has been requested by Ian Rosenblatt to remove Divers and two non-execs from the board. He may decide to withdraw that request or rely on his view of other shareholders’ opinion of him.

Anyway it will take many weeks, probably not months, for both sides to lose.

[quepassa] 28/1/2025 08:02

It seems to me that it just has.

A drama perhaps, more likely a tragedy.

Especially for long-suffering supportive rank-and-file shareholders.

And the actors in the tragedy should not be proud of their performance.

An absolute disgrace.


ALL IMO. DYOR.
QP

[scepticalinvestor] 28/1/2025 07:55

Dear oh dear, the drama never ends

[quepassa] 28/1/2025 07:55

Doesn't surprise me.

"it is the Board's view that it is unlikely to be able to secure the funding that it requires in a timely manner to secure the Company's future"

See today's RNS for full context.

all imo. dyor.
qp

[tomtrudgian] 22/1/2025 09:38

Your posts are always well worth reading, QuePassa. My wild guess is that you are possibly a retired solicitor senior partner.

Nick Davis is from Memory Crystal, and it is a just conceivable possibility that a deal may emerge for Memery to become a private firm with Rosenblatt taking over his eponymous business, with a chunk of the debt. I have no idea.

Tom Trudgian

[quepassa] 22/1/2025 08:03

1.That scenario does not necessarily gel with today's RNS announcement.

2.1648 refers.

3. Tick-tock, tick-tock.

Exclusivity Period nearing its end on 24/1/25


all imo. dyor.
qp

[tomtrudgian] 21/1/2025 14:08

Ian Rosenblatt will try as much as he can afford to regain control of the Rosenblatt business, for quite understandable vanity reasons. If he succeeds Memery will remain, and Divers is business streetwise.

Few solicitors have managing partners like him. Or attempts to offload business parts at any price. Or getting out of an onerous lease without dilapidations. Buying is always easier than selling.

With now low outgoings, Memery will succeed, if Divers remains.

[quepassa] 14/1/2025 11:26

One can but wonder to oneself whether Memery are asking themselves if what's good for the goose is also good for the gander.

all imo. dyor.
qp

[master rsi] 13/1/2025 11:41

Very interesting as buys were early to do so and MMs were happy to move prices UP.

[zen12] 13/1/2025 10:23

Late RNS Fri missed by many as it was issued late, it's getting interesting indeed.

[the codger] 13/1/2025 10:20

Well well,interesting events unfolding

[quepassa] 10/1/2025 14:38

Don't miss it.

Or the colourful readers' Comments.

Roll On Friday - article today headed:-

"Ian Rosenblatt and his firm declare war on each other".


hXXps://www.rollonfriday.com/news-content/ian-rosenblatt-and-his-firm-declare-war-each-other


You couldn't make it up if you tried.


ALL IMO. DYOR.
QP

[shep22] 09/1/2025 18:44

I predicted the demise of RBG(Rosenblatt) when it was 87p,it gives me no satisfaction to say so but this business never had a future as a listed company, It was further compounded by the addition of Memery Crysta, an equally lack luster firm as Rosenblatt.

[ny boy] 09/1/2025 15:38

Dead on arrival, zero is the target for 🗑️

[scepticalinvestor] 09/1/2025 12:05

This is why punters need to stick to the geesgees. You have better chances there pal

[farrugia] 09/1/2025 11:52

sadly this looks like its going bust. I can't see a solution where the business remains listed. I should have closed this last year instead of yesterday morning to use the capital gains loss.