Ripple energy "strike off"

[Moxi]

I think the emails are coming out in a staggered / random fashion, mine only appeared recently - you have to remember that the staff sending stuff out might also be in shock if they are just now finding out they have lost their jobs.

Moxi

[NoraBatty]

I get that it will be difficult for those facing redundancy. I sympathise, and have been through it myself, so know how rotten it is.
It is very simple to set up a mailing list that sends to all, i.e. shareholders though
Its a few mouse clicks, rather than individually sending the emails out etc.
I presume the same email is being sent to each project shareholder, because some shareholders are multiproject holders.

[NoraBatty]

Made the tabloid now.
https://www.thesun.co.uk/money/33943008 ... istration/

Still no update for us.
Its obviously not Ripple who alerted the Sun to this, but would have been nice as an investor to of been informed by the company, not having to find out via the forum or worse, the bleddy sun!

[John_S]

Typical Sun article,

They do not understand that the GF and KH Coops are ring fenced from Ripple and are still operating as going concerns. They are not owned by Ripple and the administrators/liquidators cannot size their assets. There should be no loss to investors in GF and KH. Probably the same for DW and no idea about WB - I am not an investor in them and thus have not seen their documentation. Particularly how the cash invested in WB is held until the purchase goes ahead.

If one invested in Ripple itself, my understanding is that you can set the loss of against tax. If an EIS investor, you get relief at your marginal rate of income tax and if a non-EIS investor, you can offset the loss against any capital gains tax you pay at 18% or 24% depending on your tax rate. If EIS investors have already claimed income tax relief on their investment, they can only now claim relief on the remaining loss. No need to wait until liquidation is complete as a 'negligible' value claim can be made in 2024/25 tax year. Consult your tax advisor for full details.

[nowty]

There are a couple of interesting lines which the Sun has put in quotes suggesting this may have come from the administrators,

"The Joint Administrators are in advanced discussions with a number of interested parties."

"Ripple Energy will continue to trade while the Joint Administrators seek a suitable buyer of the business and it is anticipated that there will be no disruption to the service during the sale process."

[Fueltheburn]

The sign in to ripple now appears to be locked. Is this true for everyone else?

[NoraBatty]

No, i can get in.
Just cant see any update on it.

[Fueltheburn]

Had to reset the password.
Would just be the icing on the cake.

They have already played dirty on censoring the forum so it would not have surprised me.

[smegal]

It's probably worth downloading all of your documents just in case.

[Joeboy]

This in yesterday.

"We are writing to clarify the rapidly developing situation with our managing agent, Ripple Energy Ltd.

Over the last few weeks, we have known that Ripple has been struggling as a business, and we have been working with them to find a solution where they could continue to provide their contracted managing agent services to the coop. However their situation has become untenable, and they have had to apply to be entered into administration. This situation in itself is challenging, but it does not impact directly on the viability of the Derril Water Solar Coop Limited or the associated assets.

Progress on site is currently progressing, and we are firmly focussed on exploring how this will continue uninterrupted.

We are working with the other Ripple managed coop boards to ensure that we are all able to continue to manage and deliver member benefits, however there will undoubtedly be some changes as we transition to a new managing agent.

We will update you as soon as we have more to report.

Regards,

Derril Water Chair "