It was announced today that I had sold 4.35 million shares in Rivington Street Holdings. There will be another 400,000 sold within 24 hours.
Just a brief note to explain. The 400,000 is the final consideration on the purchase of the Real Man Pizza Company outlet and so they will be cancelled by Rivington. I now own that restaurant entirely and can make a few tweaks. The new improved wine menu goes live this week. And a new Monday play list is on the way. I have at least one new pizza recipe for a new Autumn menu. Feel free to pop along at any time. I am there most days.
The rest I sold to John Wisbey, CEO of AIM listed Lombard Risk Management (LRM). He now owns just under 10% of Rivington. He is a financial software man so I imagine knows the Blue Curve operation well and he also knows what else Rivington does. I have not got the faintest idea why he wishes to buy. Ask him.
As to me? Well I had agreed to sell 6 million shares to new CEO Mark Robertson. But he has not come up with the cash as agreed so I am not hanging around and must move on. I am still left with 18.63% of the company after these trades. But Rivington is my past. I am looking forward to the future and have new ideas to fund. I had a pleasant email exchange with Jim Mellon last night and wish him and Mark all the best. But it is their baby not mine.
In a similar vein I will be tipping out my other equity holdings in an orderly fashion over the coming months. I stand by my record and my abilities (unlike some folks, I accept where I called things wrong and do not seek to credit only for the good things, you cannot have it both ways) and so will fund my ventures going forward, not companies run by other folks. It sounds rather brutal but I am backing myself and will keep 100% equity control of whatever I do going forward. Control your own destiny is a new motto for me.comments powered by Disqus