October  25, 2018

YBR appoints CEO

RAMcap welcomes the announcement made by YBR today that it has appointed Mr Frank Ganis as CEO.

The appointment of a competent, independent CEO addresses our principal concern and we have decided to terminate the campaign to remove Mark Bouris as a director . We endorse the company’s stated intention to reduce the YBR executive team.


September 27, 2018

Campaign to remove Mark Bouris

RAMcap  announces its campaign to remove Mark Bouris as Executive Chairman of Yellow Brick Road Holdings (YBR). RAMcap acquired the bulk of its 3.4million YBR shares at an average price of 9.5 cents from the sell down by Macquarie Bank in April, 2018. Despite RAMcap’s efforts in submitting a quality candidate as replacement independent YBR chairman  Bouris has chosen to reject the opportunity to step aside preferring -as our nominee says- to stay in a messy fight.

The proposed YBR reset would include replacing the present members of the board, a possible resetting of the brand and of the YBR product offering. One important RAMcap initiative- subject to a successful execution of the YBR reset plan in 2019 – will be the commencement of the payment of ordinary dividends by YBR. The funds for such dividend will be part sourced from the termination of service contracts with Bouris related companies. The removal of the two Bouris brothers is in the demonstrable interest of YBR employees, franchisees and shareholders.

Please contact RAMcap for more information.


October 5, 2018

Email response to legal letter from Landerer & Company

Hello Mr Houston

I acknowledge receipt of your letter dated 4 October.

With respect to your stated concerns :

None of the statements in the subject letter and subject media release are misleading


None of the statements in the subject letter and subject media release are deceptive.

Your stated concerns about undisclosed associations are groundless. RAMcap has no association with any YBR shareholder. RAMcap has never had any association with any YBR shareholder.

Your client’s assertion in para 4 that our nominee candidate – mr xxxx xxxxx – “no longer desired to be a director of YBR” is incorrect.

With respect to your questions about our planned YBR reset it was stated by YBR director mr Owen Williams at our meeting on 17 August that Surf Travel Company and are tenants of YBR. Please confirm that these businesses are associated with one or both of the Bouris brothers. Please be advised that the RAMcap YBR reset entails the termination of all YBR contracts with the Bouris brothers.

faithfully yours

Richard Matthews

CEO & Founder


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