Author Topic: RB.V - Russell Breweries Inc  (Read 29358 times)

Cevian

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Re: RB.V - Russell Breweries Inc
« Reply #90 on: January 11, 2017, 04:11:51 AM »
The communication on this, or lack thereof, has been disappointing.

hillfronter83

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Re: RB.V - Russell Breweries Inc
« Reply #91 on: January 11, 2017, 04:59:13 AM »
The communication on this, or lack thereof, has been disappointing.

I imagine Sanjeev is as anxious as other shareholders to get cash distribution.

Parsad

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Re: RB.V - Russell Breweries Inc
« Reply #92 on: January 11, 2017, 08:18:34 AM »
Sanjeev, since both deals are now closed when is management planning on moving to the NEX exchange and finally distributing cash back to shareholders?

It's a public company...I cannot make a comment on this until the company has done so.

The communication on this, or lack thereof, has been disappointing.

It's not as simple as you think.  Because the company will be dissolved or sold (shell) after a year, all associated costs, tax liabilities, legal, accounting, filing costs, have to be accounted for before any distribution.  Otherwise, there may be a shortfall and we would have to claw back distributed capital from shareholders.  For a small company, it was a very complex deal.  You'll hear something soon enough.  Cheers!
No man is a failure who has friends!

ourkid8

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Re: RB.V - Russell Breweries Inc
« Reply #93 on: February 20, 2017, 10:56:51 AM »
Still waiting...

You'll hear something soon enough.  Cheers!

EricSchleien1

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Re: RB.V - Russell Breweries Inc
« Reply #94 on: February 20, 2017, 11:31:13 AM »
You guys are a tough crowd.

Parsad

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Re: RB.V - Russell Breweries Inc
« Reply #95 on: February 20, 2017, 03:22:02 PM »
Not much longer...they're working on it.  Cheers!
No man is a failure who has friends!

hillfronter83

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Re: RB.V - Russell Breweries Inc
« Reply #96 on: March 03, 2017, 12:26:54 PM »
[quote ]
During the three months ended December 31, 2016, Russell completed the sale of all of the property and assets used or utilized in its business of producing beers in Manitoba and BC. The sale was approved by the shareholders of Russell at a shareholders meeting held on November 28, 2016. It is expected that an initial distribution of the proceeds will be in the next few months with a final distribution before the end of calendar 2017.
[/quote]

Sounds like we won't see any distribution until mid of the year.

drzola

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Re: RB.V - Russell Breweries Inc
« Reply #97 on: March 24, 2017, 08:18:20 AM »
First cash :-* payment of $0.05 CDN dollar enroute for mid April it appears?

netnet

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Re: RB.V - Russell Breweries Inc
« Reply #98 on: March 27, 2017, 04:36:40 PM »
There is also a couple risks here. 

The purchase of the Fort Garry assets are subject to working capital adjustments, so these could eat through the profits if they are significant.

The Russel Brewery sale is not being paid for for 6 months, so there are risks this falls through.

Plus both have significant parts of the purchase being held in trust for indemnification claims, which is kind of unusual, so there may be something here we don't know about.

Buy at $0.07 and sell at $0.085 in less than a year is a great return, but I've seen these types of things not work out as clean as you'd like - something to think about.

Are you still skeptical?