Appears it must, just made this purchase. In saying that, no, not alot has come out of Arborgen to date. IPO must be on the table again. Long suffering RBC shareholders have waited a long time for some return, not one of my best investments!
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I like this bit ......'This Facility extension is important ......, as we look to near-term value realisation in Rubicon."
and especially this bit .....'near-term'
as at 08:58:16, Wednesday 14 May, 2014 (NZT)
GENERAL: RBC: Rubicon's US$20 million Bank Facility Extended
RBC
14/05/2014 08:58
GENERAL
REL: 0858 HRS Rubicon Limited
GENERAL: RBC: Rubicon's US$20 million Bank Facility Extended
14 May 2014 - Rubicon's CEO Luke Moriarty announced today that "the Company's
US$20 million bank financing Facility with the ANZ Bank New Zealand Limited
("ANZ"), which was to have expired on 1 July 2014, has been extended through
to 1 July 2015. All financial terms of the existing Facility, including its
secured financing structure, remain as is."
Mr Kasnet, Rubicon's Chairman said "The ANZ has been our core banking
relationship for over ten years now, and it has always been supportive in the
provision of bank funding to assist us in meeting our business objectives for
the Company. This Facility extension is important in that respect, as we look
to near-term value realisation in Rubicon."
The Facility extension is effective immediately. Rubicon's existing debt
balance today is approximately US$9.5 million.
END
Phew...that's a bit of a hit on RBC so far this morning. Anyone spotted any news??
Rubicon starting to fly, just hope it has enough fuel this time.........
Annual announcement due any day now. To be hoped its not the same old same old.........
Cut and paste from the last five years announcements, add a few platitudes, garnish with some more vague references to the future and there, thats that done for another year.......
Or is my impatience just exaggerating my cynicism?
It was so good biker that I think you missed it. And yes, it was same old same old. Announced late Friday from memory .
FFS Barney you're right! And it says the following!!!!!......
ARBORGEN
Much of the text of this section has been purposely extracted directly from the Rubicon (2013) ASM (CEO and Chairman) presentations and from the 2014 Interim Review, as the Company believes those materials still represent the most relevant discussion material for Rubicon shareholders at this time.
Truly remarkable isn't it. How the same Management and Board are still in place I don't know.
I bet what we see next year is another attempt at an IPO for Arborgen. Just when the US Fed pulls back on printing money and the US markets head south, after this year hitting record levels. Then the excuses will come about not being able to launch an IPO in the "current market conditions". I can just see it.
I see both Mitre10 and Bunnings are firing on DIY wave......just hope the same is happening in the US for Tenon. Not holding a lot of hope for Arborgen for the next couple of years.