Ann: Appointment of Administrators, page-161

Can you please post the rest of the AFR story I linked to Hotfire?

.and I think the vultures have been at this for a long time .
Bitter jokes aside, it is NOT right this kind of dealing is allowed within the system.
RCR Tomlinson was a company widely promoted as being top of it’s class.
As noted it is still considered ‘a buy’ on Comnsec.
Hartley’s and Macquarie loved it just a few months back.

Dalgleish sold more than $10 million worth of shares 12 months ago and almost immediately negotiated an extra $150 million worth of credit from the bank.
In August another $100 million was raised despite the company being prepped for administration.

Dalgleish and other insiders were given plenty of time to sell remaining shares and short the company then disappear like rats into a sewer

Management (such as it was) then said it had to go into sdministration because no one would kend it money.
On whose behalf has ‘management’ been working?



The administrators have had no problems borrowing money.
There are offers on the table now apparently from buyers who want the whole company and others who want just part.

Those potential buyers have been looking since at least last August and, most likely. since late last year when - just after he sold his shares , Dalgleish (according to AFR) put it out on the grapevine the company was for sale.

I really hope no shareholder had more than they could afford invested in this stock.
I haf around 3% of my portfolio (percentage is greater now because I have taken the message and started lightening up..and other shares went down ) - so luckily overall the impact is cushioned . But that cushion depends on everything else in this uncertain market.

And yes we all know the market is uncertain.

And if this can happen to RCR where else can it happen?

Even if retail shareholders - as lowest and least- do not get anything back from this company there are gains to be made.

Best wishes to all.