RPM - RPM Automotive Group

[warennie]

Most likely water bearing, possibility that the LWD equipment was interpreting drilling mud that may have got through. Running a comprehensive logging program to determine.

NDO down 33%
KIK down 66%

This is the all time lowest KIK shares have ever been.

 

[System]

On July 8th, 2019, Kairiki Energy Limited (KIK) changed its name and ASX code to RPM Automotive Group Limited (RPM).

 

[Dona Ferentes]

another consolidator in a SME sector.

RPM AUTOMOTIVE GROUP STRENGTHENS NORTH QUEENSLAND PRESENCE WITH THREE STRATEGIC GROWTH TRANSACTIONS

Key highlights:
• Acquisition of two complementary businesses and the opening of a new distribution centre to grow operations in Far North Queensland : Carline Automotive - Cairns; Carline Automotive – Townsville and Revolution Racegear – Townsville
• Opening of RPM Autoparts Townsville distribution centre
• Forecasted additional annual revenue of $6.75 million
• Provides increased vertical integration capability and savings, simplified logistics and broader product integration in the region
• Immediately value and earnings per share accretive
• Fully funded from a mix of existing cash balances and new RPM shares
• Culturally and operationally aligned, with all management retained
• Continuation of the company’s ongoing growth strategy, consistent with recent acquisitions including Elite Tyre Group, Super Tyre Mart and East Coast Tyre Wholesalers

$36 million M/C. Still losing money.

"We plan to continue with our aquisition strategy to support our expansion and place increased focus on where we see the most opportunity, our Tyres & Wheels and Repairs & Roadside divisons,” said Group CEO Clive Finkelstein in May.

 

[Miner]

another consolidator in a SME sector.

RPM AUTOMOTIVE GROUP STRENGTHENS NORTH QUEENSLAND PRESENCE WITH THREE STRATEGIC GROWTH TRANSACTIONS

Key highlights:
• Acquisition of two complementary businesses and the opening of a new distribution centre to grow operations in Far North Queensland : Carline Automotive - Cairns; Carline Automotive – Townsville and Revolution Racegear – Townsville
• Opening of RPM Autoparts Townsville distribution centre
• Forecasted additional annual revenue of $6.75 million
• Provides increased vertical integration capability and savings, simplified logistics and broader product integration in the region
• Immediately value and earnings per share accretive
• Fully funded from a mix of existing cash balances and new RPM shares
• Culturally and operationally aligned, with all management retained
• Continuation of the company’s ongoing growth strategy, consistent with recent acquisitions including Elite Tyre Group, Super Tyre Mart and East Coast Tyre Wholesalers

$36 million M/C. Still losing money.

At the outset have had no knowledge on KIK or RPM.
But posting from @Dona Ferentes evoked my interest and did some quick search.
RPM came into world only in 2019 and that too from a company called Kairiki Energy - where was synergy between an energy company and an automotive group - excepting a car uses fuel as energy, I have no clue.
This was the news published by Kalkine (for the record, I have blocked this company's sales people to call me - simply annoying)

| Kalkine Media

kalkinemedia.com

another news https://www.investogain.com.au/company/kairiki-energy-limited/ said that the IPO was undersubscribed and they extended the last date .
So two years is not good enough and company acquired two more businesses.
I did not get warm and fuzzy about RPM or past KIK. DNH

 

[Dona Ferentes]

KIK ... this is never a good look:

we understand that on or about this date the company consolidated its shares 1 for 37

07/06/2019​

and then a bit later:

The company (KIK) has elected to extend the public offer closing date by 7 days until 5pm on 5 July 2019. The reason for the extension is to allow sufficient time for investors to submit their applications and subscription funds. The marketing of the public offer has only recently commenced due to logistical delays. Notwithstanding the extension to the public offer closing date, the company may make further changes to the public offer timetable and might still elect to close the offer early.

21/06/2019​

so in steps RPM to take over the shell:
from delisted: RPM raised $2,612,854.40 pursuant to the offer under its prospectus dated 29 May 2019 by the issue of 13,064,272 shares at an issue price of $0.20 per share and 3,266,067 free attaching options exercisable at $0.25 each on or before 28 August 2021.

Then there was a placement in Nov 2020: RPM ... placed 27,059,736 shares at an issue price of $0.19 per shares plus a 1 for 3 free attaching unlisted option exercisable at $0.38 with an expiry date of two years from the date of issue to raise approximately $5.1M (before expenses).

So the placement has kept them afloat, and enabled the scrip and cash acquisitions.? It seemed to give some breathing room, and the SP got a bit of a boost. But I agree; not a good look. And too many Options exercised under 2A's.

from the RPM website : http://www.rpmgroup.net.au/company-history/ ... there is nothing, though rest of the website is functional. !!

RPM Automotive Group Limited (RMP, formerly Kairiki Energy Limited) is a player in the Australian Automotive Aftermarket comprising a number of businesses involved in: importing, wholesaling and retailing of tyres, mechanical repairs, motorsport apparel and safety equipment, niche manufacturing and a roadside assistance service for the transport industry.