Dont you mean "if" rather than "when"?
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It's different this time...!!!.....lol.
Well the quickest way to administration is carrying large debt and no cash flow.
RBC have no debt, and increasing cashflow,and now a proven business model.
More like 1991 than 1987.
Forgot about Fletcher Energy....$90k windfall for me and I really thought Capstone Energy was the next best thing......
Ongoing clearing of the decks continues
21 August 2018 – Rubicon’s Chairman, Dave Knott, announced the appointment of Paul Smart to the Rubicon Board as an Independent Director under the NZX Listing Rules.
Mr Knott said “Paul is New Zealand based, with a broad background in growth companies in both the public and private markets, and extensive experience in all aspects of finance across a wide range of industries. He has operated at both senior management and non-executive board levels throughout his career, with a focus on growing successful companies in the broad technology and energy fields.
His prior management positions have included CFO of Meridian Energy and CFO of Sky Television. He has previously held non-executive Director and/or Chairman roles in Arc Innovations, NZPM Group, and Southern Hydro (Melbourne) amongst others, and he is currently a non-executive Director of Solarcity, InterCity Holdings, Mercer Group, Argus Group and Geo40. He is a chartered accountant by background, and a member of the NZ Institute of Directors. We are pleased to have Paul join the Board at this exciting time of the Company’s life, and we believe he will add considerable value to our decision-making as we move forward.”
Separately, Mr Knott said that Rubicon had recently undertaken a competitive tender process in connection with the supply of audit services to the company, and that as a result of the assessment of proposals, the Board has selected Deloitte to provide audit services to the company in the future. KPMG has resigned as the company’s auditor with effect from today, and the Board has formally appointed Deloitte as the Company’s new auditor. Deloitte will perform the audit of the FY’19 Rubicon financial statements. “The Board would like to thank KPMG for their commitment and service, which has been provided to the Company since Rubicon’s inception” he said.