RCG Holdings Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:RCG.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9639577
http://www.bbc.co.uk/news/world-asia-china-18055044 By Courtney_Fish ]]> http://www.iii.co.uk/investment/detail?code=cotn:RCG.L&display=discussion&id=9639577&action=detail Mon, 14 May 2012 16:40:00 GMT Courtney_Fish tag:iii.co.uk,2003:tst.9639466
Still trading???

By thefozzer ]]> http://www.iii.co.uk/investment/detail?code=cotn:RCG.L&display=discussion&id=9639466&action=detail Mon, 14 May 2012 16:10:00 GMT thefozzer tag:iii.co.uk,2003:tst.9560526 http://www.iii.co.uk/investment/detail?code=cotn:RCG.L&display=discussion&id=9560526&action=detail Fri, 20 Apr 2012 13:41:00 GMT rickylfc5 tag:iii.co.uk,2003:tst.9168670
It's no wonder the shareholders keep voting down the board's plans - the last one was to broarden the shareholder base and raise money to invest in projects. What a lie - more like to provide working capital for the business. Why don't the board learn - trust has to be earn't.

Still, voting down something which may keep the company afloat seems a little daft, like shooting yourself in the foot. Unless the plan is to buy the assets off the administrator? By Sceptic Ed ]]> http://www.iii.co.uk/investment/detail?code=cotn:RCG.L&display=discussion&id=9168670&action=detail Mon, 16 Jan 2012 16:02:00 GMT Sceptic Ed tag:iii.co.uk,2003:tst.9168294 http://www.iii.co.uk/investment/detail?code=cotn:RCG.L&display=discussion&id=9168294&action=detail Mon, 16 Jan 2012 15:06:00 GMT Sceptic Ed tag:iii.co.uk,2003:tst.9168015
Even though we aren't talking about UK Government, I'm amazed any Government would assign any contract to RCG when there is so much mirk around them. By Hardboy ]]> http://www.iii.co.uk/investment/detail?code=cotn:RCG.L&display=discussion&id=9168015&action=detail Mon, 16 Jan 2012 14:17:00 GMT Hardboy tag:iii.co.uk,2003:tst.9167899
Like you, I somehow managed to make money on my RCG shares (I got in on a bet the HK listing would boost the share price and was fortunately right and doubled my money). I don't go in for shorting - smart move on your part though - well done.

That the FSA and the NOMAD/s could just sit back and watch the continuing farce says it all. They are a waste of space and it looks as if the new NOMAD might simply be in it for the fees. Shameful - like so many other things inside this company (and outside it). I guess the former NOMAD resigned without spilling the beans and is hoping enough time passes before it goes 'pop' to save its embarrassment. The audit firm is a 'member' of an international association of second tier players - not sure what this means, probably not much. When I last looked, it only had 3 listed clients so I dare say it is eager not to offend by asking tricky questions. I didn't even get a response when I wrote to the senior partner (a chartered accountant) expressing my concerns.

Administration next? Can't really see any other outcome - due diligence would fail in spades so takeover looks unlikely (by anyone reputable anyway).

A classic case for shareholder action against previous directors, current directors, auditors, NOMADs - even the FSA - you name it. Doubt it will happen though. Remaining shareholders holders might try contacting the 'UK Shareholders' Association'. It might just be interested and can actually be quite supportive in cases like this:

http://www.uksa.org.uk/

Good luck

Eagle
DYOR
By eagle51 ]]> http://www.iii.co.uk/investment/detail?code=cotn:RCG.L&display=discussion&id=9167899&action=detail Mon, 16 Jan 2012 13:59:00 GMT eagle51 tag:iii.co.uk,2003:tst.9167519
http://www.muddywatersresearch.com/2011/11/cnbc-street-signs-nov-29/

What I find most annoying is how "reputable" advisers in the UK and US have been willing to "help" these companies achieve this illegal transfer of wealth. Not actively helping of course, but simply turning a blind eye. These Sell Side lackies need to be better regulated and take more responsbility.

Auditors and Nomads should be legally required to issue a statement explaining the reasons should they resign or be fired. They should have a duty of care to investors if they fail to report evidence of fraud. Replacement Nomads and Advisers should be required to undertake "shareholder fraud" focussed due diligence before accepting any appointment including the extensive questioning of previous advisers.

Fortunately, I managed to side step the RCG disaster selling at a small profit once I became suspicious of managements actions. The biggest clue was the failure of the Company to match operating profit to operating cashflow over a five year period (only around 10% of profit converted into cash) and the rising level of trade debtors. This prompted me to investigate the Best Chance, Vast Base and A1 deals. Appalled by what I found I sold out and then shorted the stock down from the 60s to the low 20s.

I really admire what Carson Block has done in the US on a much bigger scale. His actions have been a catalyst for the market to revalue these businesses. I am sure some good companies have got caught in the crossfire but the ultimate blame must lie with the fraudsters who have done untold damage to the credibility of Chinese companies.

By 10Bagger01 ]]> http://www.iii.co.uk/investment/detail?code=cotn:RCG.L&display=discussion&id=9167519&action=detail Mon, 16 Jan 2012 12:58:00 GMT 10Bagger01 tag:iii.co.uk,2003:tst.9167133
There are now only two options - sell the company - current MV is only around £30m, so someone might be interested. Otherwise option 2 is go bust in about 6 months time (being optimistic)

They have lots of plans for the future. At the moment I just can't see them making it there! By Sceptic Ed ]]> http://www.iii.co.uk/investment/detail?code=cotn:RCG.L&display=discussion&id=9167133&action=detail Mon, 16 Jan 2012 11:49:00 GMT Sceptic Ed tag:iii.co.uk,2003:tst.9165927 http://www.iii.co.uk/investment/detail?code=cotn:RCG.L&display=discussion&id=9165927&action=detail Mon, 16 Jan 2012 07:58:00 GMT Sceptic Ed tag:iii.co.uk,2003:tst.9165829 http://www.iii.co.uk/investment/detail?code=cotn:RCG.L&display=discussion&id=9165829&action=detail Mon, 16 Jan 2012 07:41:00 GMT Courtney_Fish tag:iii.co.uk,2003:tst.9105449 http://www.iii.co.uk/investment/detail?code=cotn:RCG.L&display=discussion&id=9105449&action=detail Wed, 28 Dec 2011 08:39:00 GMT Sceptic Ed tag:iii.co.uk,2003:tst.9105282 http://www.iii.co.uk/investment/detail?code=cotn:RCG.L&display=discussion&id=9105282&action=detail Wed, 28 Dec 2011 07:44:00 GMT nicoforever tag:iii.co.uk,2003:tst.9035131
People who invest in a discounted placing are not gullible - in fact often they make an immediate profit because, having bought at the discounted level, they sell straight away at the higher market price.

It's free magic money.... all at the expense of long term holders.

IMVHO. By The Millipede ]]> http://www.iii.co.uk/investment/detail?code=cotn:RCG.L&display=discussion&id=9035131&action=detail Mon, 05 Dec 2011 19:32:00 GMT The Millipede tag:iii.co.uk,2003:tst.9006619 http://www.iii.co.uk/investment/detail?code=cotn:RCG.L&display=discussion&id=9006619&action=detail Tue, 29 Nov 2011 00:45:00 GMT master chef I