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RegTech Open Project: gone bust yet? When will the FCA suspend the shares?

By Tom Winnifrith | Tuesday 27 February 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Floated at 100p last August, shares in Regtech Open Project (RTOP) are just 3.66p, a new all-time low. That the prospectus was grossly misleading is beyond doubt. It claimed that Alessandro Zamboni’s AvantGarde was selling almost £18 million of shares to 12 lucky punters. But AvantGarde, like Regtech, appears to be insolvent, owing cash all over the place including to Regtech. Did any of the 12 punters actually pay up back in August? Why hasn’t the FCA suspended Regtech shares pending clarification?
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