NicholasNameless
02 Dec 2015
Re: Demand for shares Perhaps the Adminstrator is buying in the market. 
scotguyinsuffolk
01 Dec 2015
Demand for shares Strange situation .... iii offer to buy 200,000 at 0.70 but can't fulfill the reverse ...shortage of shares ?
NicholasNameless
01 Dec 2015
Re: Shareholders meeting Sterling: "I presume it doesn't have cash to satisfy creditors ...hence administration"The last set of accounts were heavily qualified by the auditors.This outcome is concerning. Pointless to table an Open Offer without the Administrator on board.
broomfielder
30 Nov 2015
Re: Shareholders meeting Appreciate your feedback from the GM scotsguy and thanks for sharing your views.Given the size of Sterling Trust's shareholding in Rur, the actions of it's Administrator was always going to be pivotal to any attempts to restructure Rur's capital.Given how matters appear to have evolved, perhaps now we can have the 'horse trade' that both parties might just benefit from.B
scotguyinsuffolk
30 Nov 2015
Shareholders meeting Perhaps I should elaborate further re Sterlings position.Currently majority shareholder in a business that needs a decent amount of cash.I presume it doesn't have cash to satisfy creditors ...hence administrationTotally understand wishing to preserve their shareholding but they have not made any proposal concerning the need for cash and I expect they are incapable of any assistance whatsoever.Other shareholders could have come to the rescue . This often happens in startups where the company finds it takes longer to get established , runs short of cash and needs a white knight. The early shareholders need to swallow the bitter pill of dilution ! Sterling ( in admin) could have allowed other shareholders to rescue the company. Let's see what happens now !
scotguyinsuffolk
30 Nov 2015
Shareholders meeting Whilst I totally agree that the BOD should have sounded out Sterlings administrator before the meeting it would seem that any contact or negotiation prior to the meeting could be construed as preferential treatment and was advised against by the Nomad. However I must say that I was totally amazed by the behaviour of Sterlings administrator at the meeting. He proposed a 14 day postponement which was rejected. He had been appointed as administrator in October and received the offer documents along with everyone else. As adminstrator he should be concerned with obtaining value from Sterlings assets - nothing else. He is aware of the need for cash. and yet he left the meeting without putting forward any alternative proposal and without even speaking to the BOD ! The OO would have funded the business and paved the way for the future. Now we could be faced with a low ball offer from goodness knows who ? And if there is any whiff of Sterlings people being remotely involved I fear litigation will follow .
broomfielder
30 Nov 2015
Re: Shareholders meeting All very valid observations scotsguyinsuffolk. Failure to sound out Sterling's Administrator prior to proceeding with the OO is more than a bit concerning so it does not augur well IMO for the new BoD. It's rather basic after all.Look as if Rur are caught in the classic liquidity squeeze where a short term facility is expensive and will soon expire and there is never enough time to realise the sorts of assets (especially given their geographic locations etc) that they have. Expense every which way is the norm.We can only hope there may be some good news to announce now that the OO is out of the way (as rumoured on other bb's).B
scotguyinsuffolk
30 Nov 2015
Shareholders meeting Interesting chatter on other bb ....Repatriate funds from Argentina ? Have you ever tried ? You don't end up with much after all the tax ! And what a clear sign to your partners that you are in trouble !Sell a turbine to Africa ...for easy cash ? What planet do you live on !This company could well be in a downward spiral and Sterling investments is sitting in the co-pilots seat. I don't get the feeling they know how to pull out of a spin
scotguyinsuffolk
30 Nov 2015
Shareholders meeting Outcome of the meeting was perhaps predictable as Sterling Investments ( or their administrators ) not in favour of the resolutions ! Questions now need to be asked why . ...What alternative strategy do they have ? Or are there vested interests at work ? The adminstrator was asked if he was voting under the instructions of Sterlings shareholders ! He replied he had consulted all parties but if he was swayed by Sterlings shareholders surely that might conflict with the interests of their creditors ! The administrators vote was clearly influenced ! And in my opinion could be discounted which might leave a completely new situation.Either way...where is the funding going to come from ?
NicholasNameless
26 Nov 2015
Re: Share offer To be able to consider uptake, it would seem that it would be most useful to know the outcome of the EGM (or GM is it?). In deed, to be in attendence at the meeting might be rather helpful. Does anyone plan to attend?
broomfielder
24 Nov 2015
Re: Share offer As suggested by Leicesterboy, an alternative BB has a more active debate taking place on RUR.That said, I think any Pvte shareholders will be struggling to evaluate the risks here in the absence of meaningful updated information on everything from asset sales to Project updates including progress on JV discussions etc.However the whole sense of having an Open Offer (especially one that is now 'out of the money') is surely questioned by the Administration of Our biggest and majority shareholder, Sterling Trust. I'm fairly sure no PI's have a clue on whether this holding has already been sold on or options granted for its disposal and to whom etc. This is just a tad significant as the Open Offer won't get off the ground if this holding is stymied.ST's shareholding and in whose hands this might end up are IMO pivotal here. But it's simply one of a plethora of issues on which we all need some light shed even if only to discount some of the conspiracy theories beginning to abound.I'm struggling to think ever having seen a formal Fundraising exercise being undertaken in such an information vacuum but it's looking more and more simply a question of the BoD saying 'trust us, we know what we are doing.............!'Now if that's still the case come 1 December, then is it the old 'good money after bad' question again?B
scotguyinsuffolk
24 Nov 2015
Share offer Unless you support the open offer , buying shares on the open market would be pointless ! If the open offer fails we could see the share price collapse further. the current market cap does not seem to reflect the intrinsic asset value of the company so if you believe the directors can turn this around with the injection of funding then you need to support the open offer. Buying shares on the open market doesn't help with the lack of funding.
Santiago102
24 Nov 2015
Share Offer I have to make a choice before the 27th whether to:1. Take up the offer;2. Buy shares on the open market;3. Do nothing.Any thoughts, please?
broomfielder
11 Nov 2015
Thanks Leicesterboy I did wonder where everyone had gone!B
Leicesterboy
11 Nov 2015
Re: Short Term Facility Broomfielder better for discussion on London and South East BB ! More people discussing this share.LB
