"Is there any chance that RCR company will be recovery?"
In my opinion, you have more chance of winning the lottery than of having any return from the Administration of RCR.
The administrators are already cutting up the carcass of RCR and selling the juicy bits.
"Lately, they offered $1.0per share and i AGAIN bought around $2500, Is there anything I can do with this ?"
As for the shares that you and others took up in the recent issue, they rank the same as any other shares, with the same dismal prospects.
"Is there a group of RCR tomlinson share holders that I can connect with?"
You can register with the lawyers who have started various class actions but I have very low expectations of any significant return from that direction. I received a cheque for $43 from the class action against NCM for non-disclosure, and that was in respect to about a $20,000 share purchase at the relevant time. I look on the class actions as a way of giving some grief to the perpetrators, not as anything likely to recover much of my money.
There will probably be at least two different class actions, depending on when the share holder purchased their shares. You can register with the lawyers, Quinn Emanuel by calling 1800 927 203, or by emailing
[email protected].
The following came in an email from the lawyers in respect to
one of the potential class actions.
"Shareholders who purchased RCR shares between 11 August 2017 and 11 November 2018 can register their claim with Quinn Emanuel on a no cost and obligation free basis. You can complete your registration at https://rcrclassaction.com.au/ "
If any money does emerge from the class actions, that is unlikely to be soon, but rather a year or two or three in the future.
Based on the last sale price, Comsec keep showing my RCR shares are worth $60,308.
I wish I could get Comsec to remove that holding from my portfolio list because looking at it only depresses me.
It is a daily reminder of my folly..
So, in summary, your holding in RCR, along with my own and everybody else's holding, is almost certainly a total loss.
typically the the administrators will eventually make a declaration that the shares are worthless to assist shareholders with claiming the loss.
My expectation is that any money the the administrators realise from the sale of the parts of RCR will be swallowed up by the lenders and claims from clients for delays and other non-performance issues with their various projects. If any significant amount of money was to be left over from the administration it would just be confirmation of the incompetence of those running RCR that they allowed a going concern to get into that predicament. My suspicion is that it will emerge that it was in much worse shape than the market was being told at the time that they raised the extra cash from the share issue.
You are not the only one who feels they have been duped.
One of the company’s largest shareholders is investment firm Allan Gray and Managing Director Simon Mawhinney says “shareholders are being kept in the dark”.
“It is staggering, a very quick turn for the worst.
It almost defies belief. There’s either been a serious gross negligence, accounting fraud or blatant lying that’s happened.
It was only 22 days ago that the board and other key management members fronted shareholders at the AGM and said everything was tickity boo and things were progressing.
So this is very surprising from our perspective.” https://www.2gb.com/serious-gross-n...atant-lying-behind-engineering-firm-collapse/
We might eventually get something from the class action(s) at some remote time in the future, but I will be surprised if it is more than a pittance.
I hope that you have other investments that are doing better.
Cheers
