ridgecrest plc said monday that it has terminated the negotiations on its proposed reverse take over of romanian airline blue air after the carrier failed to raise funding the aim rule 15 cash shell said that it is in the best interest of its shareholders to pursue an alternative transaction and that it anticipates being able to make an announcement regarding an alternative transaction in the near future on july 6 ridgecrest said it agreed to acquire airline invest sa and its subsidiaries blue air aviation sa and blue air technic srl and to issue a 95 stake in the enlarged group to airline invest owners cristian rada and his brother following julys announcement trading in the companys shares was suspended from trading on aim if the company does not complete a reverse takeover or become readmitted to trading on aim as an investing company under the aim rules within six months of the suspension it is expected that trading in the companys shares on aim will be cancelled it said