To repeat Paul's words when the board of directors carried out their latest fund-raise:
Sorry I didn't see this coming, I thought RBG would be able to get through to re-opening without another fund-raise, but management has decided that they need to do what's best for the business, and to give them the firepower to do deals in a once-in-a-decade market for new sites, and of course bonanza trading imminently when restrictions lift. Plus they want to refurb a load of sites quickly, for peak trading.
Anyone buying in the market in recent days, paying 34p+ was being ripped off, and buying in a false market. The system really must be changed, it's absolutely outrageous that the share can keep trading at a false price, when a deeply discounted fundraising is underway. People who had been made insiders, knew not to buy in the market (and are not allowed to), giving an unfair advantage. Whereas most people who are not insiders, might decide to buy at say 35p in the market, completely unaware that a 20p placing is underway.
Urgent action is needed, to adopt the Australian system of suspending all shares whenever a placing is underway. We need to lobby for this, so let's get some letters in to our MPs, and to the financial authorities, otherwise nothing will ever change.
Well, although I don't hold Revolution Bars (LON:RBG), there have been plenty of instances whereby corporate action by Directors has hurt my investments so I did as Paul suggested and emailed my MP on the 25th of May. Today I received a reply and it attached a proforma to be returned to my MP and I copy the explanatory note, below:
The purpose of this form is to give Michelle Donelan MP and her staff the ability to access and request files or information pertaining to your case for the purpose of investigation into an issue you have raised with your MP after contacting the office.
Not being skilled at signing a form digitally I've placed my details on paper and will slow-mail it back today. Hopefully a few more, if not all MP's will have been approached to same way.
Silver Moon
