Published on 07 May 2019
2019 was always going to be a pivotal year for Ridercam, one in which the company enters its commercialisation phase with agreements direct with Theme Parks rather than third party operators. These developments will finally deliver the true revenue potential. 2019 is also the year where the Company set out to IPO on a Stock Exchange to raise further funding for growth and to provide shareholders with a value validation event.
Notwithstanding the quality of the Company and its investor proposition, (the company received the highest ever positive responses from the recent road show) the Board has been forced to put the listing on hold for the following reasons:
The Company remains positive about its future and will continue to seek a listing.
The Company is ready to IPO with all legal and most of the accountancy work completed and a properly constructed board following the AGM in May.
The board will seek to list on a market where it can access the required equity capital to execute its plan fully. In that regard the Company is in the process of appointing advisers in the UK and potentially the US, where the board believes that access to capital will be more forthcoming. The Company continues to work in parallel with its Swedish advisers for solutions and new investors in Sweden.
The Company’s board has also opened up discussions with potential strategic acquirers to sell the business.
The Ridercam board remains confident about the prospects of the business. The Company is in the process of finalising and installing its new technology in Europa Park, Germany. 2019 remains a pivotal year for the Company, a year in which Ridercam will install and operate its first fully commercial contracts direct with Theme Parks. A year the management believe will be transformational in the value and future of the business.