Ridgecrest - RDGC - Share chat

Another cheap popular spac stock that isn’t on Freetrade. Up over 200% since Jan

yes please, would love to get it on my stocks and share ISA on Freetrade rather than on my AJBell general account

Agreed. This should be a multibagger. It is gaining now

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What does the community think of this statement in regards to Ridgecrest.

Ridgecrest plc announced on 5th January 2021 the completion of the disposal of its operating businesses to Sanderson Group and accordingly the change of the Company’s status to an AIM Rule 15 cash shell. As an AIM Rule 15 cash shell the Company is required to make an acquisition or acquisitions constituting a reverse takeover under AIM Rule 14 on or before the date falling six months from becoming a cash shell or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least £6 million) failing which, the Company’s ordinary shares would then be suspended from trading on AIM pursuant to AIM Rule 40. Admission to trading of the Company’s ordinary shares on AIM would be cancelled six months from the date of any suspension should the suspension not have been lifted beforehand. The Company is incorporated in the UK and its main country of operation is the UK.

This is only a few days away now. Are folk holding, buying or selling?

Interesting today that we see a 27% price rise… Paul McKillen now has a 3.01% stake (approx £157k), so this could be an indicator that something big is about to happen with this company. No idea who Paul is, anyone else got any more info?

Another movement today, Paul McKillen moved his position from 3% to 4% holding, maybe that was a driver?

So an RTO of an airline. Not quite what I was expecting but certainly interesting.

Ridgecrest, an AIM Rule 15 cash shell, is pleased to announce that it has entered into a non-binding heads of agreement with Mr Cristian Rada, as a result of which, subject to, inter alia, the execution of a legally binding share purchase agreement (the “SPA”), Ridgecrest would acquire Airline Invest SA (“Airline Invest”) and its wholly owned subsidiaries, Blue Air Aviation SA and Blue Air Technic SRL (together “Blue Air”) (the “Proposed Transaction”). Cristian Rada and his brother are the sole shareholders of Airline Invest.

Blue Air is a Romanian low-cost airline headquartered in Bucharest, with its base at Henri Coand International Airport, and with operations at Turin airport, Italy. It is reportedly the largest Romanian airline by scheduled passengers flown, having carried more than 32 million passengers in its 16 years of operation.

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