I spotted some news about the Color Obstacle Run in Jyväskylä
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Rush’s website seems to be down. I wonder if it’s related to the upcoming new winds:
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This could be interpreted to mean that Rush Factory’s old business has been given a final farewell, and the investor group is indeed taking only the shell without unnecessary frills. The question now is only what businesses will be integrated into the company and at what price.
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Rush Factory doesn’t seem to be giving up. Rental of event equipment and services related to the storage, rental, and construction of event equipment. The company continues to develop its own event production and offers services to both Finnish and international clients.
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Busywork until the merger with Summa is completed… 
Here are Thomas’s comments on this mentioned matter. 
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Can someone shed some light on what’s going on here?
At least with OP, orders go through normally without errors.
However, the buy and sell sides (order books) appear empty when viewed from KL pages, and
not even my own orders are visible there, which have supposedly gone through..
KL shows me that the last trades for the stock happened on 21.11. ?
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Rush Factory’s current shareholders will retain approximately 0.6 percent of the shares of the new company Sunborn International Plc.
The completion of the share exchange requires its approval at an extraordinary general meeting by a two-thirds majority of the votes cast and shares represented. The extraordinary general meeting of Rush Factory deciding on the share exchange is estimated to be held in February 2025. At the extraordinary general meeting, a new board of directors will also be appointed for the Company, after which a new management team will be appointed for the Company. In addition, Rush Factory’s articles of association will be proposed to be amended so that the Company’s name will henceforth be Sunborn International Plc, its domicile will be Helsinki, and its line of business would be changed to include SBIH’s lines of business.
After the share exchange has been completed, Sunborn Oy will own approximately 53.7 percent of the new corporate entity, Saga Palvelut Oy approximately 15.1 percent, PM Ruukki Oy approximately 9.9 percent, Nordic Credit Partners AB approximately 7.0 percent, Samuli Koskela through Jerovit Advisory Oy and Jerovit Investment Oy approximately 5.5 percent, Oy Haapalandia Invest Ltd approximately 4.6 percent, Keskinäinen Eläkevakuutusyhtiö Ilmarinen approximately 1.0 percent, and Rush Factory’s current shareholders approximately 0.6 percent.
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So Sunborn bought himself into the stock market? Well, that’s what happens if the market value is pennies.
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Well, exactly. Could this be the reason for the topic of my previous question, meaning you practically can’t trade the stock? Not even for pennies..
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That’s peculiar. Has trading really been suspended on 22.11? I couldn’t find a stock exchange release about this.
It can be found in Nasdaq’s press releases, meaning it was locked in connection with the bankruptcy news.
Perhaps the company dropped the ball with its own announcement there, but the current owners haven’t really been in focus anyway…
https://www.nasdaq.com/press-release/suspension-trading-rush-factory-oyj-2024-11-22
You probably can’t do much else but wait for trading to open. It will probably happen again at the latest after that mess is completed.
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Is there any information available on how long the share sale is halted and what else might be behind it besides the Sunborn maneuver? The valuation of the old RF shares was certainly calculated at such a level that small investors are being taken for a ride again, and thoroughly so…
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It is quite harsh that current RF owners will own 0.6% in the future. However, the outcome would have been a round zero without this, and now this struggling company was valued at a million. Its market value was probably much less than a million at some point. Those who bought Rush at the bottom might even make a good profit. I can’t really assess if Sunborn is actually as valuable as claimed. I’m sure that valuation will also drop by over 50% on the stock market within the first year.
The value of Rush Factory’s share capital has been set at one million euros in the Share Exchange.
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I myself haven’t found such information..
In any case, I know that when and if trading opens, my ownership in RF will melt before my eyes.
I would have gladly recorded the losses in last year’s taxation, but it was not possible.
Yacht Hotel Sunborn International may list through Rush Factory, and now Sunborn International is eyeing the Vancouver hotel market. Below are Thomas’s comments on the matter.
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Trading has already been suspended for over 2 months. Is such a long time normal, and how much longer might it take…? It would certainly be interesting to know what kind of things are being gone through and clarified behind the scenes.
As I understand it, the opening of trading for the current company depends on market surveillance, and Rush Factory was unable to comment further on it. If the share exchange proceeds as planned, trading in the shares of the new merged company is intended to begin on April 11, 2025.
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