RCG Share Discussion Threads

[stegrego] 20/10/2012 11:45

I think the company had a certain amount of business that was real, but then all the money got siphoned off into the deals that never existed. I assume that Chan and Chu etc picked up the huge amount of funds that went to those bogus companies.

[robertfaulkner] 20/10/2012 09:11

A news report from June 2010 (I see the name Dato Lee is here, CEO)




Surveillance and security systems specialist RCG Holdings Ltd (LON:RCG, HKSE:802) has raised £2.11 million via an equity issue to finance new projects in its Solutions, Projects and Services business segment for public and private sector customers in Southeast Asia and the Greater China regions.

The company added that revenues, net profit and financial position were in line with its expectations in the six months to 30 June.

"We are pleased to confirm trading has remained in accordance with our expectations and are also delighted that two additional European institutions have chosen to invest in RCG via the Subscription. We hope that in future commercial collaboration opportunities may arise for RCG amongst Pari Group's portfolio businesses," said chief executive of RCG Holdings Dato Lee.

Shares in the company rose 5.5% on the update.

[robertfaulkner] 20/10/2012 09:06

I just got this on Tony Chan from Wikki, I'd forgotten so much, you'd think it was fiction.

Then I find Chainchem is owned by a state oil company of China, you don't get bigger than that




Tony Chan Chun-chuen (born on 23 December 1959 in Hong Kong with family roots in Xinhui, Guangdong) is a Hong Kong businessman and the former Feng shui geomancer to the late Nina Wang, the former chairman of Chinachem Group and Asia's richest woman. He is known for laying claim to her US$4 billion estate after she died from ovarian cancer in 2007, claiming to have been her lover.[1][2][3] On 2 February 2010, the Hong Kong High Court ruled that Wang's estate belongs to Chinachem Charitable Foundation, not to Tony Chan.[4] Mr Justice Lam said Chan was "untruthful, unreliable and lacking in credibility". He further stated: "I do not find him to be a credible witness and I find in many respects his evidence was tailored to suit his convenience. I do not believe what he testified regarding the provenance of the 2006 will. Apart from my general assessment of his credibility, I also find his evidence incredible."[5] The judge found Wang's signature on the 2006 will relied on by Tony Chan to be "a highly skilled simulation",[6] on the basis of which the Hong Kong Police arrested Tony Chan the next day.[7] He was released on HK$5m (US$640,000) bail.[8] The Inland Revenue of Hong Kong has also issued a demand for HK$300 million in back taxes on income he is alleged to have received from Wang for feng shui services, sums which Chan claims were gifts from his lover.[9]

RCG Holdings Limited (LSE: RCG,SEHK: 802), a biometrics and RFID solution provider partly owned by Wang and Chan,[10] was listed on the Hong Kong Stock Exchange in February 2009

[robertfaulkner] 20/10/2012 08:58

Thanks Elban, what a strange company, what a strange set of circumstances with the disputed will, masseurs etc,

Will a book be written on the whole shebang, I'd love to know the inside story?

Was there ever a go go high tech company producing these electronic identification tags, or was it all smoke and mirrors paid for by shareholders

It's still possible to buy shares in this "thing"

[elban] 19/10/2012 23:30

RF,

The valuable assets are held in the name of the Dato Lee Boon Han - and not the company.
So the liquidator couldn't get them anyway (without a costly legal battle).

They would not be buying for a profit, rather (1) Tony Chan etc - to hide all the evidence for good, (2) Chinachem - to find the evidence and take revenge on Chan.

[robertfaulkner] 19/10/2012 22:43

What happens if you have a short contract with I G Index and it goes completely bust, do you have to close the short by buying the bust shares at what you think is the lowest tradable value?

Is that what MD meant? (or is the short selling where someone has borrowed the physical shares and sold them for say 20p, now they buy them back at 1.2p and hand the now valueless shares back to their owners)

What would happen to any short contact that wasn't closed, could the contract holder lose out?

Elban, are you saying the liquidator, set up by the creditors of RCG, wouldn't have all the little money that could be squeezed from the assets, in which case what would taking it private mean, what would be left to take private?

[elban] 19/10/2012 19:11

It is still logical for certain parties to buy shares at this price.

Let's say that the police investigation reveals fraud - but not sufficiently to prosecute (the documents may be 'lost').

RCG is still a bust business - but ownership may now become important.
If Tony Chan (and mates) have a controlling stake then they can effectively take it private - thereby frustrating any further investigations.

If Chinachem have a controlling stake, they can put their guys in place and properly investigate.

The cost of buying a sizeable fraction of the company now is peanuts to these guys.

[melton john] 19/10/2012 18:34

That gets my vote MD.

[mister md] 19/10/2012 15:01

final short-closing ?

[greek islander] 19/10/2012 14:56

Someone is clutching at straws

[robertfaulkner] 19/10/2012 14:19

What the f..k, today 1.3 million shares bought over many 20000 blocks, none sold and the price from 8:30 to 13:30 was the same 1.2p

Can there be life in this dog? Only £15600 to buy the shares but it's an awful amount to just throw away

[gerryjames] 18/10/2012 10:55

"It was p[robably the problem with share ownership that killed it."

Not fraud?

[robertfaulkner] 18/10/2012 10:04

But Guys, why would anyone invest £1000 in this suspended in HK company, there must be a reason, more than a "fool and his money is soon parted"

Can they believe that it will come out of suspension and then if it jumps to 3p a share, they should then be able to sell for 2p and double their money.

[this_is_me] 17/10/2012 19:39

I continue to make money on AIM and I would like to pay tribute to the late RCG for making Me over 50p a share in the mid noughties. It was p[robably the problem with share ownership that killed it.

[greek islander] 17/10/2012 18:23

This is now dead and buried. No saviour on the horizon, your best bet is to treat it as a CG loss.
Anyone who thinks different is deluding themselves. Best to let go and buy something else that has no China connection. Ideally not on AIM which is a crock of sh*t.

[stegrego] 17/10/2012 18:20

Look out above, mind that pig!!!

[robertfaulkner] 17/10/2012 18:16

Why would someone risk money on a firm being investigated for fraud in the country it is based in?????

I know the report below is a month old but some posters might not have seen it.

Is it possible that RCG have been given a clearance from HK police fraud dept?



20 September 2012 | 15:15pm
StockMarketWire.com - RCG Holdings Limited has confirmed that Hong Kong police have carried out a search of its offices in connection with a possible fraud.

The company said the search warrant gave the force's commercial crime bureau the power to take possession of documents and information relating to former subsidiaries Chance Best Technology, Strong Aim Limited and Vast Base Technology, and A-1 Development which is currently an associated company.

The police also had the power to take possession of documents and information relating to external parties: Top Digital Holding, Multi-Metro and National Bonus International.

The company says it is not currently aware of the background or reasons for the investigation and will make a further announcement when further information is available.

[robertfaulkner] 17/10/2012 17:57

Amazing 400k shares in RCG purchased today, 2 lots of 100k blocks at 1.2p each(around £1200, each)

110k sold and 46k shares could have been B or S

Who would waste £1200 on this dog?

Spread is only 0.0055p,(I G ) no RNS in news

[robertfaulkner] 17/10/2012 14:22

I G Index saying up 71% with Sell: 1.0938 Buy: 2.5063 up 0.75p.

When I look at the trades. 2 deals only

One a buy of 76831 shares at 1.05p at 8:39

2nd a sell of 117732 shares at 0.71p at 11:05

I can't see how this makes the price up.

[robertfaulkner] 15/10/2012 16:15

Selftrade now offered me 5882 RCG shares for £100 @ 1.48p each, I didn't take them

[robertfaulkner] 15/10/2012 16:12

Looked at trades, one was a sell of 40977 shares at 0.9p = £368, is that the end.

[robertfaulkner] 15/10/2012 10:19

Looks like the end in neigh, Selftrade wouldn't even offer me a deal for a Buy £100 RCG at best. (I wasn't going to accept the deal. I was just interested to see if they would deal and how many shares £100 would buy)

It said unable to continue, please try again later

I G Index showing Sell: 0.6453p Buy: 1.9048p

[robertfaulkner] 13/10/2012 08:29

Just looked at ADVFN's RCG trades (Fri)and they show all trades were "sells" except this one 90370 "Buy" this seems much more likely as the share price dropped during the day

Sorry for pos wrong data, shows how careful you have to be

[robertfaulkner] 13/10/2012 08:19

Price Qty Bid Offer Tot Buy Tot Sell
12/10/12 14:23 1.1 61,567 O 0.75 2.49 Sell 198,201 68,728 0
12/10/12 13:39 1.05 4,465 O 0.75 2.49 Sell 198,201 7,161 0
12/10/12 13:36 1.71 90,370 O 1.5 1.6 Buy 198,201 2,696 0
12/10/12 13:03 1.7 57,831 O 1.5 1.6 Buy 107,831 2,696 0
12/10/12 12:15 1.5 2,696 O 1.5 1.6 Sell 50,000 2,696 0
12/10/12 08:11 1.6 50,000 UT 1.5 1.6 Buy 50,000 0 0

According to this on Fri, 198k of RCG shares were bought and 68k were sold?????

Why would someone buy 90370 shares, a bit over a Grand?

From an ADVFN competitor site

[melton john] 10/10/2012 15:25

If you google "shares of negligible value" you will find loads, among which

You basically treat negligible value shares as if you had sold and repurchased at the same price. The "sale" counts as a CGT loss and if by a miracle the price rises and you sell for real, you count the rise in price as a CGT gain.