According to the ASIC documents all 124,777,776 shares in Reegenerate PTY LTD have been sold to REECYCLE Holdings INC for $3,181,563.25. Old mates Jeremy and Chris Achurch were individual shareholders in Reegenerate (along with RR1 as a company) so they would have got paid personally for their shares. (Nice work if you can get it) As it no longer has any shares or assets it is being wound up. Date of Application for voluntary deregistration was 5/6/2024. So Shareholders investment of $1.8 million into Reegenerate has been sold to REEcycle (from my reading of the ASIC extracts). No announcement from RR1 on this sale, why it occurred or what was the profit or loss from this little adventure. Interesting that the CEO and Company Secretary of RR1 were personal shareholders in this Company....don't remember seeing that announced anywhere... A question regarding what was happening with Reegenerate was asked at the recent consolidation shareholders meeting and the RR1 Chair Robert Downey said, in person, there was nothing to update...yet according to the ASIC document numbers, all the shares were transferred to REECYCLE Inc on 27 October 2023.
RR1 Price at posting:
1.1¢ Sentiment: Hold Disclosure: Held
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