RC Group (RCG) - Ready to tap into $4 Billion Market

By MDChand:

"in the times today.......

RC Group eased ½p to 37½p amid word the Hong Kong biometrics developer is raising £10 million through Corporate Synergy, its newly appointed stockbroker. The company, which floated on AIM last year at 10p, is tendering with GE for security contracts for the 2008 Beijing Olympics and is seeking to extend its identity recognition technology into European consumer markets."

Significant if true 'cause GE had bypassed all of RCG's US competititors. Re: 2008 Olympics---- Entirely believable; GE backing RCG's design blueprints while China will also find these contracts awardment favourable if RCG/GE are chosen since the bulk of manufacturing of the devices and systems will take place in China. It's a simultaneous give-and-take scheme! This scenario echoes the fact that RCG is in the know and are in serious exchanges with some high Chinese government officials. IMHO.

It's a good service that RCG took the opportunity to have pre-empted an RNS amidst general market malaise/jitters before the details to be released next week.

Now I reveal my earlier source who specified Meryll Lynch and others who were buying in. Now it's a placing for institutions, I suppose.