Message to Investors
August 2020 Webinar
Welcome to Ross Group PLC‘s monthly webinar. The next presentation will be uploaded on 30th September 2020.
You can ask your board any questions via our dedicated email address : firstname.lastname@example.org.
It is my pleasure to welcome you to Ross Group PLC’s first ever Webinar.
I am Barry Richard Pettitt, Chairman of The Ross Group PLC.
Please kindly know that the acronym PLC means Public Limited Company and/or Premium Listed Company; which both pertain to Ross Group as we are Public Limited Company and Premium Listed on the Main Board of The London Stock Exchange.
Therefore, on a Regulatory basis, I have to hereby say that any representations made on this Webinar are neither an inducement to buy or to sell any Ross Group shares and also are not meant in any way to constitute any form of “insider information” – Especially as everything being mentioned in this Webinar should already be in the Public Domain and will also be made available on our RGP Website in order to ensure parity in the sharing of such content with all RGP Shareholders.
With that said, some of you may recall that we did what can be best described as an interactive cyber “Town Hall” presentation last year, which was well supported and, in its own way, was successfully received.
However, in keeping with the technological times and trends, our Ross Group Board of Directors and Management sincerely hope that this format may perhaps be more preferably welcomed and also more regularly received; as it is our intention to do this on a monthly and/or Quarterly basis – Answering any questions that you have, being both addressed at the following Webinar and/or in writing on our Ross Group Website.
I would like to start in this Webinar by giving you, our shareholders, an update from after our last interactive cyber “Town Hall” last year.
At that time, we had just completed our acquisition in January 2019 (which was announced in October 2018) of the Archipelago Aquaculture Group (that we respectfully refer to now as “AAG”)
Since then, we continued to undertake an ongoing review of the businesses and operations of AAG based on the representations of their management and respective forecasts, budgets, cashflows and timelines.
By the time of having to report our Ross Group Interim Accounts – for the 6 month period from January 1st to June 30th 2019 – we had implemented enough deployment of working and operational capital to be able to begin the process of establishing enough information on the AAG businesses in order to allow our new enlarged management team to be able to make the strategic decisions considered necessary in order to move AAG forward as best as possible,
Please kindly know and respectfully recognize that this particular process of using an Ionic Liquid to extract Chitin from crustacean exoskeleton shells has NEVER been done before in a mass production environment.
Therefore, after a through evaluation, on a structured and also highly Regulated basis, we electively decided to restructure the AAG operation, its management at that time and also, ultimately, the Board of Directors – so as to theoretically go “back to basics”
These decisions taken were tough, direct and done in what your RGP Board considers to be in the best possible interests of you, our RGP shareholders
We have also now recently released our Full Year 2019 Annual Report in which we have reported exactly what has been invested, spent and expensed during the whole of last year
In addition, within our Accounts, we have made prudent provisions and reasonable impairments; especially as COVID also struck during our Audit Period (which started ordinarily at the 1st January 2020 and because of COVID was extraordinarily extended then by the LSE to until the 30th June 2020) All of which we believe again these provisions and impairments are in the best interests of all our existing new and old RGP Shareholders.
Most particularly, we have also indicated in our Annual Report that we have already initiated discussions with Professor Robin Rogers and his company, 525 Solutions – Whereby we envision trying to conduct a joint venture between AAG & 525 Solutions – as they both respectively achieved the proof of concept of extracting Chitin using IL which won them the coveted EPA’s Green Chemical Award – in other words, again, we are going “Back to Basics”
In addition, we cordially invited Professor Rogers, the Inventor and Founder of this IL process, to also join our RGP Board of Directors last year.
On the particular subject of our respective Boards of Directors, we significantly changed last year both the AAG & RGP Boards of Directors – Partially because of performance and also because of other circumstances that had nothing to do with AAG or RGP but effectively created a cause for change and, again, also for the right reasons.
Whilst there are, of course, no guarantees for success on something
that is, as yet, unproven on a mass production basis, we are however very confident that we are now on a better course to proving production in the foreseeable future – For now, only time will tell…
On a number of other non-Chitin business fronts, I am very pleased to report that we are also not standing still, so to speak – We are currently in detailed discussions with certain parties regarding what we think may perhaps be some special and unique opportunities; some of which have arguably arisen recently from the calamity of Covid and that we believe are worthwhile exploring as any one, or all, of them may be beneficial to our overall RGP business and, in the fullness of time, to the benefit of you our loyal, patient and understanding Shareholders.
In closing, I would like to sincerely thank you all, as always, for your unwavering support and, on behalf of our Board of Directors, management, employees, partners and sub-contractors, may we wish each and everyone of you and your respective Families the very best of health, happiness and safety during these most difficult and dangerous times.
So, until our next Webinar, please kindly send us any questions that you may have to our new specific email address: info@RossGroupPLC.com which is detailed on our RGP Website: www.RossGroupPLC.com
I more than appreciate your time taken to watch and listen to this Webinar and look forward to more interactions together in the near future.
Thank You Kindly.