Ridgecrest Share Discussion Threads

[sloppyjoe2] 22/3/2021 21:29

Why would Johnma sell RDGC at a loss, before the rto and a (we hope) substantial revaluing, when he could have sold AAA, which he has held from low levels and which has already significantly increased? Something doesn't smell right.

[pointscorer] 22/3/2021 21:20

It's disappointing to see the price drop, but the long game is the RTO and the value that will come with it. John and Ash hold 5% each and there are others with substantial holdings. Remember, John was adding @ 2.8-3p, so has taken a hit as well.

[festario] 22/3/2021 21:10

I'm in the red too, but selling at a loss is quite simply the worst thing you could ever do.I'm noting on Telegram that plenty of folk are looking to add tomorrow, now that John has finished selling some.So, if we get a blue day, it could be the catalyst for a sustained move up.

[pointscorer] 22/3/2021 20:43

No problem, plenty of buyers until we RTO

[letmepass] 22/3/2021 20:35

Who will reduce next? . In the red now, might sell at a loss. Didn't expect this

[onsideman] 22/3/2021 20:18

I would respectfully suggest that one takes anything John Mahtani says with a huge pinch of salt. That is all.

[manual dexterity] 22/3/2021 17:01

Yep.

NT at the end of the day but there seems a constant dripping of shares. Probably those who bought at 0.60p.

[pointscorer] 22/3/2021 16:58

And all of those and more got bought when the RNS came out. Took a million myself ;-)

[manual dexterity] 22/3/2021 16:55

1% works out around 4.5million shares.

So above 2p I would envisage probably 90-100k.

Don't know the exact average sold so rough guessimate.

[pointscorer] 22/3/2021 16:53

He sold 1% not 1 million....

[ebomber] 22/3/2021 16:46

Thanks for confirmation CrossChris

In my experience I'm not sure £90,000 (1% of £9 million MC) will go very far in funding a SPAC. You need to add another £200k to that total - it's expensive and closer to £300k needed with all professional fees. It is effectively dead money.

However, I'm more re-assured but the dust needs to settle to ensure other large holders don't also sell down in the coming days.

£9m market capitalisation today with what appears to be just a cash shell with up to £2m working capital.

350% premium at today's share price

Certainly any buy signal that existed has now completely evaporated today.

0.44 pence reflects what is in the public domain and in the bank.

[richardp19] 22/3/2021 16:44

Next Ashok Patel will reduce as he needs some new shoes and tennis rackets

[pointscorer] 22/3/2021 16:29

John has reduced to fund his new SPAC to listing, he is hanging on the the remaining 5%.
Great top up time ;)

[crosschris] 22/3/2021 16:28

John Mahtani, if you read his post on Telegraph, he has sold 1% to fund a new project and keeping the other 5% firmly invested in RDGC for the longterm. Keep Up!

[sloppyjoe2] 22/3/2021 16:25

"Surely you would wait for the real payday when something is reversed into this shell." You'd think so, wouldn't you?

[crosschris] 22/3/2021 16:25

Lemmings off a cliff for now, but patience is the key as always!

[ebomber] 22/3/2021 16:23

Why does it appear John Mahtani is now bailing in the Holding RNS timed at 15:54 today?

Surely you would wait for the real payday when something is reversed into this shell.

[crosschris] 22/3/2021 16:14

Getting cheap now!

[crosschris] 22/3/2021 15:59

An AIM Rule 15 cash shell is an AIM company which has divested of all, or substantially all, of its trading business, activities or assets and/or has taken action the effect of which is that it will cease to own, control or conduct all or substantially all of its existing trading business, activities or assets (AIM Cash Shell). Changes were introduced to the AIM Rules on 1 January 2016 to provide that, within six months of becoming an AIM Cash Shell, the company is required either to:

Conduct a reverse takeover.
Become an investing company under AIM Rule 8.

If an AIM Cash Shell wants to become an investing company under AIM Rule 8, that will be treated as a reverse takeover transaction and the normal rules for reverse takeover transactions, including the requirement to publish an admission document, will apply. The minimum cash threshold for admission as an investing company is £6 million.
Therefore, both options available to an AIM Cash Shell require shareholder consent, related party notifications under AIM Rule 13 (where relevant) and publication of an admission document. If an AIM Cash Shell fails to comply with the six month time limit, its securities will be suspended by the Exchange pursuant to AIM Rule 40.
Reversing into an AIM Cash Shell is one way to join AIM. Admittedly, it is a more costly, lengthy and less straightforward means of admission but as there is cash available in the shell waiting for investment, it may avoid the need for a fundraising.
For details of AIM Cash Shell reverse takeovers on the What's Market database, see What's Market: AIM Reverse takeovers: AIM Cash Shells.

[sloppyjoe2] 22/3/2021 14:46

That's what I thought. Well let's hope it doesn't happen!

[tburns] 22/3/2021 14:33

Potential to fold

[sloppyjoe2] 21/3/2021 20:06

And if they haven't agreed an rto by then?