Blackwell International (BGI)

[Sideshow Bob]

Oh, he's resigned!!

And they've changed the name of the company!!

https://www.nzx.com/announcements/429927

At the request of the independent directors, Mr Michael Chai has resigned as a director of the Company with immediate effect. As a consequence, his alternate director Steve Chua has ceased to hold office.

Given Mr Chai’s departure, and the independent directors wish to separate the activities of Mr Chai, who is also a director of the major shareholder of the Company, from the Company, the Board of the Company have resolved to change the name of the Company to “RTO Limited” and the Company’s ticker code from “BGI” to “RTO” with effect from 1 May 2024.

[Sideshow Bob]

https://www.nzx.com/announcements/430017

The Company’s major shareholder, Blackwell Global Group Limited (“Shareholder”) holds Secured Bonds issued by the Company for the sum of $550,000.

At the request of the independent directors, the Shareholder has agreed to forgive the repayment of $200,000 of those Secured Bonds with immediate effect.

These funds, together with the additional free cash held by the Company, will be deployed by the Board towards:

• the payment of the Company’s ongoing compliance and administrative costs; and
• investigating a reverse takeover transaction. Any reverse takeover transaction will have the effect of diluting down the Shareholder’s shareholding interest, and Mr Chai’s personal shareholding interest in the Company significantly.

The Board proposes to work with the Shareholder to restructure the outstanding balance of Secured Bonds, either through the further forgiveness of all or some of those Secured Bonds, or the capitalisation of those Secured Bonds into ordinary fully paid shares during the course of this financial year.

The focus of the Board now is to actively pursue a reverse listing transaction.

[Sideshow Bob]

Another Being AI debacle incoming??

[nztx]

https://www.nzx.com/announcements/430017

The Company’s major shareholder, Blackwell Global Group Limited (“Shareholder”) holds Secured Bonds issued by the Company for the sum of $550,000.

At the request of the independent directors, the Shareholder has agreed to forgive the repayment of $200,000 of those Secured Bonds with immediate effect.

These funds, together with the additional free cash held by the Company, will be deployed by the Board towards:

• the payment of the Company’s ongoing compliance and administrative costs; and
• investigating a reverse takeover transaction. Any reverse takeover transaction will have the effect of diluting down the Shareholder’s shareholding interest, and Mr Chai’s personal shareholding interest in the Company significantly.

The Board proposes to work with the Shareholder to restructure the outstanding balance of Secured Bonds, either through the further forgiveness of all or some of those Secured Bonds, or the capitalisation of those Secured Bonds into ordinary fully paid shares during the course of this financial year.

The focus of the Board now is to actively pursue a reverse listing transaction.

The actively or the pursuing going up another gear ?

The previous one might have been a slower gear ..


Was an OIO approval given by the powers that be for Chai & his company being of good wholesome standing as major holders in the past ?

[whatsup]

No compensation for those hoodwinked into paying 9c for BGI and now worth 0.5c = 95.5% loss.

But NZX reaps the benefit with a $40,000 fine.

http://nzx-prod-s7fsd7f98s.s3-websit...624/360388.pdf

Were any of those the Huljich family ?

[nztx]

It might be off to the races soon

[whatsup]

It might be off to the races soon

Hope they dont use the Ellerslie track !

[nztx]

Hope they dont use the Ellerslie track !

4's & 5's now .. must be some renewed interest that Mr Joyce pulls another bundle of joy out of the hat for stakeholders

AIR might make Ellerslie an extra premium air haul in - 3 legs & 5 arms added on top

A shame that the indirect BGI majority holder tucked up in an Asian jail with a now tarnished image couldn't have been completely ditched

[whatsup]

4's & 5's now .. must be some renewed interest that Mr Joyce pulls another bundle of joy out of the hat for stakeholders

AIR might make Ellerslie an extra premium air haul in - 3 legs & 5 arms added on top

A shame that the indirect BGI majority holder tucked up in an Asian jail with a now tarnished image couldn't have been completely ditched

Thats what he does, some very good some very very bad IMHO.