Ridgecrest Share Discussion Threads

[haba1] 14/9/2022 07:40

ridicule, JohnM still holds 3%. He sold half before suspension. He's still a ramping pr*ck though

[festario] 13/9/2022 16:19

Hola Master...And yes, a much needed recovery here would restore my faith in SPAC type businesses.

[master rsi] 13/9/2022 16:07

Let's hope the latest news of a possible RTO, comes to some
positive result for those long-suffering shareholders.

[ridicule] 13/9/2022 15:23

Agreed Fest. Good to hear from you. I too have a substantial holding, curtesy JohnMa who now no longer holds. I had not realised there was an active Telegram group as I had all but written this off.

[festario] 13/9/2022 06:43

Yes Ridicule.I had a substantial holding here, I had mentally written it off.But this news, which has been discussed at great length on the Telegram RDGC chat group, has led me to believe that 2023 could see a tangible profit from this situation.

[ridicule] 13/9/2022 00:56

Many thanks rivaldo, much appreciated. A brilliant find.

[geoff0458] 09/9/2022 14:47

Thanks for the info rivaldo.

[rivaldo] 09/9/2022 14:10

Looks like my small holding here may yet pay back.....thought I'd better post the news since it isn't flagged in the thread header post or on the ADVFN portfolio page:



"Ridgecrest is today providing an update on its investment in Fast2Fibre Limited ("Fast2Fibre").

About Fast2Fibre

Fast2Fibre is a UK technology company with an innovative, patented solution for upgrading cabling. Fast2Fibre's patented copper replacement solution allows the inner core of buried or ducted copper telecommunications, coaxial or electrical distribution cables to be extracted and replaced with fibre, without the need for excavation. Fast2Fibre's initial target market is telecoms companies, both domestic and overseas, installing fibre from exchanges to homes and businesses. The market is being fuelled by customer demand and by a requirement from governments around the world for fibre-enabled networks. Fast2Fibre's secondary growth opportunity is in the power sector, where companies are seeking to recover and sell significant volumes of copper, with substantial financial value.

Fast2Fibre is now focused on the commercial delivery of its technology. Over the last couple of years this has been hampered by the global pandemic and, in particular, its impact on global supply chains. However, in recent months Fast2Fibre has seen a positive change in its prospective customers' willingness to engage and progress commercial terms with Fast2Fibre. The board of Ridgecrest believes that the opportunities Fast2Fibre is currently working on are significant, and therefore as expected, the customer evaluation and assessment process is very structured, controlled, and detailed.

Following demonstration of its technology and process to CEPCO in Saudi Arabia, Fast2Fibre has agreed key commercial terms for a deployment in Saudi Arabia in 2023 and expects to sign a binding contract later this year. CEPCO is a large multi-disciplined engineering group, headquartered in Jeddah, which operates throughout the Middle East and represents an excellent engineering and strategic partner for Fast2Fibre. Specifically, CEPCO is a key supplier to the Saudi Electric Company, which has engaged CEPCO to recover copper from obsolete electricity cables. CEPCO has concluded that the Fast2Fibre processes represent the only cost-effective solution available.

Vodafone in Germany is also seeking a nationwide solution for the upgrade of its network and Fast2Fibre is currently undertaking demonstrations of its process. Should these demonstrations be successful, Fast2Fibre expects to earn material revenues in 2023 and beyond.

Fast2Fibre's client engagement is strong, its costs have been well controlled, and its research and development activities have placed it in a strong position to exploit its defined customer opportunities and to scale the business to meet prospective customer demand.

Update on the Company's investment in Fast2Fibre

On 31 March 2022, Ridgecrest announced its investment of £300,000 in Sparkledun Limited ("Sparkledun"), the parent company of Fast2Fibre, in the form of a convertible loan note (the "Initial CLN") and that it had agreed to subscribe for a further £200,000 convertible loan note (the "Further CLN") in Sparkledun on the same terms as the Initial CLN, subject to Sparkledun raising at least £1 million as part of a separate equity fundraising.

In advance of Sparkledun completing its separate proposed equity fundraising, Ridgecrest has now made an additional investment of £250,000 in Sparkledun in the form of a new convertible loan note (the "September 2022 CLN"). The September 2022 CLN, that supersedes and replaces the Further CLN which has been terminated, is unsecured, carries an interest rate of 10% per annum (payable on redemption) and, unless otherwise agreed between the parties, is to be repaid by 31 December 2022. Ridgecrest may elect to convert the principal amount of the September 2022 CLN and all accrued interest into a minority interest in the ordinary shares of Sparkledun at a price (subject to a downwards adjustment in certain customary circumstances) of £32.05 per share.

While Ridgecrest also remains entitled to subscribe for a further 5,046 ordinary shares in Sparkledun at £59.45 per share in respect of those warrants that were granted to it in respect of the Initial CLN, its further entitlement to be granted warrants to subscribe for an additional 3,364 ordinary shares in Sparkledun at the same price following completion of its subscription under the Further CLN has also now lapsed.

No further warrants have been granted to Ridgecrest as part of its subscription for the September 2022 CLN.

In order to represent the interests of Ridgecrest, Robert Thesiger, Chairman of Ridgecrest, was appointed as a director of Sparkledun on 1 July 2022.

After subscribing for the Initial CLN and the September 2022 CLN, Ridgecrest's current cash balances are approximately £940,000.

Proposed reverse takeover of Fast2Fibre by Ridgecrest

Ridgecrest and Sparkledun continue to be focused on a public listing for Fast2Fibre and intend that it or Sparkledun will undertake a reverse takeover transaction ("RTO") with Ridgecrest. Ridgecrest's current intention is that it would invest its residual cash resources in the RTO process and, to the extent it has remaining cash, in the Fast2Fibre business as part of the RTO. Work on the RTO transaction will now commence but shareholders should be aware that the timing of any RTO will, among other things, be dependent upon market conditions. Given these are so unfavourable at present, it is expected that any RTO will not occur until Q1 or Q2 of 2023."

[hedgehogster] 02/9/2022 22:35

I tried to put a trade through AJ Bell for the stock via JP Jenkins today and this is the response I got back:"The stock is currently untradeable during a corporate action.We are expecting to receive share certificates from the registrar, Link. Until we receive the share certificates, we cannot put through any trade"Does this mean news is due shortly?

[davemac2020] 02/9/2022 08:45

Robert Thesiger is who we need to chase for our money. It has been suspended far too long without any communication. Absolute disgrace, there's got to be something that we can do to get answers

[jtourer] 08/8/2022 14:55

I just hope you are not one of the guys that was on LSE board hyping this to high heaven 10 bagger etc etc only to then disappear when it all went pop !

[sweet karolina2] 31/7/2022 07:19

Genuinely sorry for your losses. It was not through becoming an AIM Rule 15 shell, but I still have a holding in a company where they sold the assets for a lot of cash and the directors just lined their pockets with it until it was mostly gone and then delisted it so the main villain could escape. It is probably still years away from final strike off, when I will be able to crystallise my losses to offset against CGT.

I use RDGC as 1 of 4 examples to illustrate why AIM rule 15 shells do not make sense from a risk reward balance perspective:



I welcome any comments you have on that thread

[pennstreet] 20/7/2022 17:26

From the CEO

[dealer66] 19/7/2022 18:26

3p return by Xmas?

[ridicule] 18/7/2022 08:55

Where did you hear that from PennStreet?

[pennstreet] 15/7/2022 08:28

Update coming folks, very soon

[dealer66] 05/7/2022 20:19

Update overdue !!!!

Still hopefull of profit here

[cool hand kev] 14/6/2022 15:21

Check out Robert Thesiger on companies house directors register

[ridicule] 08/6/2022 09:10

Where did you pick that news up cool Hand Kev?

[cool hand kev] 05/6/2022 15:32

Possible news next week

[jtourer] 31/5/2022 16:55

From what I can see here the Directors of this company have done just enough to both stop the possibility of any fraud inquiries and also to stop holders recouping any of their cash. They seem to know what they are doing in this respect

[festario] 22/4/2022 11:37

Pretty much.....Although I hear murmurings of possibilities in the future.But it's all very amateurish.

[jtourer] 22/4/2022 11:34

So they effectively have run off with our cash then !

[festario] 22/4/2022 11:13

It's basically impossible

[jtourer] 22/4/2022 10:48

Has anyone tried trading any of these shares ?