Announcement of broker resignation. Quite common not to announce until notice served- BUT given the sensitivities around the stock in this case an announcement should have been made- and the decision of directors to sell shares in the interim is unforgivable and almost certainly criminal.
This price won't rise until there is a proper trading and cash update. Currie is fully aware of the pressure to produce something- however he is also fully aware of the risk of coming out with something half-arsed and wrong. Until that statement the price may drift, may rise, no idea. Only on a sensible statement can any sensible institution justify buying shares. And we need institutional buying.
Their won't be a proper rating for the stock until their is a proper update on trading and cash. If that is positive the price will rise: if it is negative the price will collapse. NO ONE ON THIS BOARD KNOWS WHAT THE TRUE POSITION IS. Until that statement investing here is the same as investing at a Casino. It is a gamble- it may work, it may not.
With Fidelity withdrawing their sell order their will be a squeeze. But other sellers will emerge. The only way that there can be a sustainable re-rating is if their is a meaningful update on the company's financial position- and that will take some time for the Board to produce. Till then it will be a casino.
Terry is history, don't waste energy on him. What matters now is whether the company has a sustainable future. Rather than spending time nailing Terry I would much prefer a sensible appraisal of the company's futre, current cash, hidden liabilities and the like
Shares should rise this morning. Currie is close to Fidelity- at the very least Fidos should stop their selling to allow Currie some breathing space.
I understand that the AIM team are pushing for an announcement before start of trading tomorrow. But will the Board comply? And what can they say (other than "we all resign")?
I rated the company as PANIC earlier today. The only reason that there has not been an announcement from the Company is that there has not been an announcement from the Board is that either they haven't got a clue what is going on, or that the building is (metaphorically) on fire- and they are otherwise engaged. I have reconciled myself to having a total write-off on this stock. Am blaming no one other than the Board (not the idiotic rampers) and myself.
Suspension- there is no reason for a suspension. There is an orderly market- up to the Company to say something
Re legal action- if this were the US lawyers would be lining up for a class action. I for one would be happy if RT just goes bust, and spends a little time at Her Majesty's Pleasure.