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RDF, REDFLEX HOLDINGS LIMITED
dr_dazmo
post Posted: Apr 5 2018, 02:34 PM
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Hi All,
Just looking at announcement today from RDF.
Would it be fair to call it an oxymoron? blink.gif
I note Mr Joyce was appointed 26/2/18, so an excellent long term incentive.

Cheers
Dr_Dazmo

Performance Rights

Consistent with the terms of the Company’s Long Term Incentive Plan for Executives,the Company has granted 81,318 Performance Rights to Mr Neville Joyce, recently appointed as Group Chief Financial Officer of the Company.





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Always remember the Golden Rule - Those with the Gold make the Rules!

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dr_dazmo
post Posted: Apr 19 2013, 04:05 PM
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Don't know how reliable the source is but it appears that Redflex won't be gaining work in Orlando.

Cheers
Dr_Dazmo


http://www.skyvalleychronicle.com/BREAKING...Y-PROBE-1324735

(MONROE, WA) -- Redflex Traffic Systems Inc., an Arizona based firm that was hired by the city of Monroe to install and run its short lived and controversial red light camera traffic ticket operation is at the heart of a bribery investigation in Chicago.

According to the Chicago Tribune, RedFlex paid for more than a dozen vacations for a former Chicago transportation employee, and many cities are now choosing other vendors because of the ongoing federal investigation into allegations of a $2 million bribery scheme.

And on April 11 the newspaper reported that, "Seeking to reverse their fortunes amid a debilitating Chicago corruption scandal, top executives of Redflex Traffic Systems flew to Florida for a personal pitch to local officials having second thoughts about giving the company a major contract for a red-light camera system.

It wasn't enough.

The board of commissioners in Orange County, Fla., voted unanimously this week to abandon negotiations with Redflex, the highest-scoring bidder on the county's plan to install as many as 80 traffic cameras in suburban Orlando.

Citing an ongoing federal criminal investigation into allegations of a $2 million bribery scheme in Chicago and the company's potentially shaky future, commissioners opted instead to go with their second choice."

The Tribune report quoted Orange County Commissioner Fred Brummer as saying before the 7-0 Tuesday vote against Redflex, "I just don't think it's appropriate for us to congratulate a company that has this type of core value failure...the appearance, to me, is just dreadful, and appearances matter."

Redflex officials had hoped the Florida contract would become their biggest in North America, replacing the Chicago program lost to a "burgeoning investigation triggered by Tribune disclosures in October about the company's cozy relationship with a former city manager," according to the Tribune story.

From the Tribune report:
"Instead it was the latest vote of no confidence for Australia-based Redflex Holdings Ltd. and its U.S. subsidiary in Phoenix, which are facing scrutiny from local governments across the country in response to the Chicago revelations. In recent weeks, several governments from California to Louisiana have raised concerns about their relationships with Redflex.

In Prescott Valley, Ariz., Town Council members have ordered staff not to consider Redflex when its contract is up for renewal in October. "I've lost faith in Redflex as a corporation," Councilman Rick Anderson said at a March study session attended by more than 50 people who came to oppose a continuation of the red-light camera contract.

In San Rafael, Calif., City Council members are expected to consider the bribery allegations in May when they take up the issue of whether to expand or kill a Redflex red-light camera pilot project now underway. "Just because of the nature of the allegations, I can't help but think it would be a consideration," Mayor Gary Phillips said.

And in Jefferson Parish, La., council members cited the company's Chicago troubles during a March vote to refund $19.7 million in red-light tickets collected by Redflex before parish officials shut down the red-light program there in 2010 amid a corruption scandal involving a lobbyist who worked for Redflex and numerous other clients. The money has been locked in an escrow account awaiting the outcome of a Redflex breach-of-contract lawsuit against the parish."

In Monroe the contract with Redflex expires in the fall. Earlier this month Monroe city council members voted 4-2 in favor of the city sending Redflex a letter to notify the company that the city does not intend to renew the contract for the controversial cameras.




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Always remember the Golden Rule - Those with the Gold make the Rules!
 
dr_dazmo
post Posted: Apr 2 2013, 03:22 PM
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Things may work still work out for RDF in Chicago.
I found this yesterday, and I could be wrong, but based on the Australian experience, I suspect speed cameras are a very lucrative instrument, and once the Govt are on the drip, they find it difficult to break their budget addiction.

If the city's take is $30m, I expect RDF will also do alright (the recent SP appreciation seems to suggest so too) .

Cheers
Dr_Dazmo

http://beverly-mtgreenwood.patch.com/artic...red-light-snafu


Speed Cameras Coming Despite Red Light Snafu
The mayor says Chicago will still receive speed cameras although they’re tied to the company behind the red light camera bribery scheme.


Speed cameras may still be implemented Chicago-wide, even though there’s a federal bribery investigation on a former city employee who worked for an organization that lobbied for them in Illinois, the Chicago Tribune reports.

Mayor Rahm Emanuel says he doesn’t think the speed camera program should come to an end, saying the issue with the red-light camera vendor Redflex Traffic Systems Inc. is “totally unrelated,” writes the Tribune.

Former Managing Deputy Commissioner of Transportation John Bills is under investigation for a suspected $2 million bribery with the company.

A group of Chicago aldermen in mid-February demanded Emanuel for answers about the program, wondering whether the red light cameras were installed for safety or profits.

The speed camera program is causing the same concerns, with Emanuel saying fines from the speed camera program will inject $30 million into the mayor’s “children first” budget, the Chicago Sun-Times writes.

The closest intersections in or on the border of Beverly, Mt. Greenwood and Morgan Park are at 111th Street and Vincennes and four cameras on Halsted between 95th and 119th, according to the city's data. In total, more than 150 are placed within the city's boundaries.

The exact locations of all the upcoming speed cameras are unknown, but there are plans for 40 of them around parks and school zones.

Redflex’s red-light camera contact ends in June, and Emanuel has already barred them from renewing. However, he says the speed camera program is unrelated.





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Always remember the Golden Rule - Those with the Gold make the Rules!
 
macduffy
post Posted: Mar 8 2013, 12:30 PM
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In Reply To: dr_dazmo's post @ Mar 8 2013, 11:01 AM

Not necessarily relevant to that change of substantial shareholdings but I note that Macquaries are still precluded from making a recommendation on RDF. There was the failed t/o attempt by Macquarie interests a couple of years ago, of course, and it may be only that they are still substantial shareholders or that they are corporate advisers to the company. Or there may be another reason..........

unsure.gif

 
dr_dazmo
post Posted: Mar 8 2013, 11:01 AM
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In Reply To: dr_dazmo's post @ Mar 5 2013, 10:38 AM

I see that IOOF are no longer a substantial shareholder.

According to Commsec, on 11/2/13 they held 8.47%.
I wonder who the buyer(s) was?

Dr_Dazmo





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Always remember the Golden Rule - Those with the Gold make the Rules!
 
dr_dazmo
post Posted: Mar 5 2013, 10:38 AM
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Hi All,
Looks like RDF have confessed to some past sins and are being hammered at the moment (-23.45%).
It will be interesting to see the eventual outcome.
Hopefully coming clean will clear the decks, and provide some confidence in the company & it's management going forward.

I like the company as there look to be high barriers to entry which should deter competitors & insulate the company from the current issues.
Anyone have a prediction on how low she might fall?


Cheers
Dr_Dazmo



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Always remember the Golden Rule - Those with the Gold make the Rules!
 


macduffy
post Posted: Jul 21 2011, 08:26 AM
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In Reply To: mercury's post @ Jul 21 2011, 07:16 AM

Can't add a lot to that.

The original offer from Macquaries and Carlyle Group was raised from $2.50 to $2.70 and had the support of the board. The SP was bid up in expectation of the Scheme of Arrangement being approved but an influential shareholder - Ron Langley? - opposed it and in the end shareholders voted it down. The SP then collapsed and in the absence of further information it hasn't recovered.
I bought a few after the vote, and SP collapse, in the expectation that the game isn't over yet.

A good jump in the SP yesterday but of course the market as a whole was strong.Very low volume still so I don't expect any imminent developments.


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mercury
post Posted: Jul 21 2011, 07:16 AM
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Last post for RDF was over a year ago. Since then the stock has had a takeover bid...which got knocked back by shareholders.

Can somebody give me some info....as to what happened? I used to watch this stock and have looked back at some of the announcements.....and can't quite figure out just what happened....to keep the stock so low in value. Any body help?
thanks

Merc

 
arty
post Posted: Jun 8 2010, 02:04 PM
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In Reply To: veeone's post @ Jun 8 2010, 10:49 AM

sadly, V1, my guess was solely the result of applying T/A to a double bottom pattern.
Under "happier" market conditions, I would have been more inclined to risk a few Grand - even in the Closing Auction. But market vibes being what they were yesterday, I left it alone and had therefore nothing to sell this morning sadsmiley02.gif
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I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
gulf
post Posted: Jun 8 2010, 11:26 AM
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In Reply To: NightStalker's post @ Jun 8 2010, 10:11 AM

what a joke - if the ASX can't see real trades,what chance have we with black box trading?

 
 


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