RFG

1.33%

7.6¢ retail food group limited

Yep, RFG cant do anything right.

First 3 Last

Share
Profile

Follow
mickban

12,280 Posts.

165

11/07/19

09:42

Post #: 39469789
Share

Originally posted by newB ↑

The corporate regulator and disallowed are looking at what the board of Retail Food Group knew about a $160 million make-or-break refinancing proposal when shares in the beleaguered food franchisor spiked last Friday.The Australian Securities and Investments Commission and the Australian Securities Exchange are reviewing trading in RFG shares, which have risen almost 60 per cent in less than a week, to see whether the company has complied with its continuous disclosure obligations.

When the ASX asked RFG on Monday if the company was aware of any undisclosed information that could explain a 57 per cent share price spike, RFG said no, but pointed to a media interview with chairman Peter George about the company's turnaround progress, and said it was in advanced discussions regarding potential asset sales and equity and debt refinancing.

On Tuesday, following a Street Talk report that special situations investor Soliton Capital Partners had proposed a $165 million refinancing package, RFG confirmed it had received a $160 million indicative non-binding proposal from Soliton and had granted the firm ''limited exclusivity'' while discussions continued and due diligence was being conducted.

ASIC and the ASX are now looking at when the confidential discussions with Soliton started and when confidentiality may have been lost, at which point RFG should have disclosed the negotiations or requested a trading halt.RELATED QUOTESRFGRetail Food Group$0.220.001 year1 dayJul 18Nov 18Mar 19Jul 190.100.300.50Updated: Jul 11, 2019 — 8.28am. Data is 20 mins delayed.View RFG related articles

"We'll look at what was known when .... when confidentiality might have been breached and when would it have been reasonable to disclose," one source said.

An ASX spokesman said the exchange continued to monitor the matter closely."Our action thus far is evident from the announcements the company has made. If we have further concerns, we’ll release our query and the company’s response to the market," the spokesman said."We always examine trading and disclosure in and around any major corporate event and this is certainly no exception," an ASIC spokesman said.
........................

Expand

Yep, RFG cant do anything right.

RFG Price at posting: 22.0¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

Nine's staff strike as Paris Olympic coverage begins

RHK

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

IGO

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

HRZ

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

ASX Market Open: ASX200 to rise for Friday session | July 26

NVA

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

MIN

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

TRP

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

MND

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

There are more pages in this discussion • 4 more messages in this thread...

First 3 Last

Add RFG (ASX) to my watchlist

(20min delay)
Last 7.6¢		Change 0.001(1.33%)		Mkt cap ! $189.1M

Open	High	Low	Value	Volume
7.5¢	7.6¢	7.5¢	$54.44K	725.8K

Buyers (Bids)

No.	Vol.	Price($)
2	439268	7.5¢

Sellers (Offers)

Price($)	Vol.	No.
7.7¢	247213	4

View Market Depth

No.	Vol.	Price($)
2	439268	0.075
3	126750	0.074
4	190124	0.073
3	81400	0.072
3	256211	0.071

Price($)	Vol.	No.
0.077	247213	4
0.078	156179	4
0.079	339481	4
0.080	1162716	12
0.081	1309360	5

Last trade - 15.57pm 26/07/2024 (20 minute delay)

RFG (ASX) Chart

Yep, RFG cant do anything right.

Nine's staff strike as Paris Olympic coverage begins

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

ASX Market Open: ASX200 to rise for Friday session | July 26

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Yep, RFG cant do anything right.

Top Stories

Nine's staff strike as Paris Olympic coverage begins

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

ASX Market Open: ASX200 to rise for Friday session | July 26

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News