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Har Chris,
I understand your concerns but to me its more serious than simply "best option".
I've seen companies which missed target after target still get funding and I don't personally believe what I feel is spin that TGR can't get any funding with the current CEO in place. Worse CEOs have got funding.
The main reason funding is likely hard right now is because the markets are weighed against large cash injections in general. Esp given Graphite is in oversupply.
Now, as it stands the company exists. As holders we can sell if wanted. However, if inexperienced, unproven individuals (and Im not saying they are), take the helm, you add the risk of them messing it up even more and the company going under.
At present, and as a part of capital protection in a bear market (for smallcaps), that risk feels larger than staying as is.
I might have a different view than many, simply because I tend to view wider market influences as important and as a holder of dozens of companies, you do get to see market wide patterns.
The new group has to show how it will change and improve things over just not liking things.
They might be able to do that, but a twitter group only method isn't very encouraging that they are in tune with getting there creditentials out there as many don't use twitter.
Don’t mistake what I’ve said anyway, you won’t find me voting for this proposed resolution if Shishir delivers strong and positive full year results in the next week or so. Don’t you think that’s fair? Or do you think we should all just give him as long as he wants despite driving shareholder value lower and lower?
I agree but you do understand that that doesn’t happen overnight don’t you? It took around a year for the Suni acquisition to conclude, you don’t think a painful cash raise would be needed in the interim?
Forget net asset value? Nonsense, imho the worst case scenario is TGR has to sell off assets including the suni acquisition and work with Madagascan projects.
This is where I stand...
If results are poor then TGR are in trouble. You can forget net asset value or whatever, the share price goes lower and TGR will be needing to raise meaningful amounts of cash with a market cap of 4-5m and a track record of missed target after missed target. I simply don't see willing funders offering that cash with Shishir, Puruvi and Alastair running the company as a threesome without taking their pound of flesh and some.
These upcoming results need to be positive or a shake up is essential and as far as I can see this group is probably the only option.
Very possible Har Chris. I'm generally of the mindset that was isn't said is often more important than what is. Not just here but across the small/micro cap markets.
That doesn't mean I'm sold on the new group, basically because I haven't seen or been shown how they would improve things i.e. actual skill sets/abilities too and that is really, even above trust, all that matters when push comes to shove.
Anyone can shout "pick me first" but words don't mean much.
If the proposed board was listed with pre-existing achievements next to each name, highlighting how they would improve the company, for me, it might add more weight (although I still think numbers wise its a tough ask to expect to win).
Nailed it
Absolutely Zan.
Historically Shishir has shouted every teeny weeny positive from the rooftops and burrowed every negative away as long as possible. There's always a chance that this time it's different but logic would suggest we haven't been fed even a snippet re production since half year report because, well, it's likely the numbers aren't heading in the right direction unfortunately.
Probably the best thing he could do is to start putting comms out there.
The lack of info on production numbers, quarterlys, general updates on state of play really can't be helping his cause.
A decent set of figures would likely remove many doubts.
A less than decent set of figures might have the opposite effect, which might be why he is holding off???
Sure and if vote fails Shishir is going to have no trouble raising at all?
Here's the TGR placings since IPO, tell me if you see a trend or not.
45p (IPO), raise £6m
90p, raise £10m
35p, £5m
52.6p/27.6p, raise £5.28m for Suni funding at different price points
11p, raise £1.045m
If the votes pass I think the share price will drop massively here and there will be no option but to dilute massively which is what they want to do anyway. It’s what this group and their associates do FYI, look at each of the companies in London they’ve all been a part of and made a living from, how? Endless fundraises. If you’re a shareholder be warned against what sounds like sweet music
Saluc, your just a puppet that has nothing to say except that your master shishir. If shishir tells you to start talking the truth will you do it? Go on we dare you. Problem is you won't do anything till your master says so. Try to do some research saluc, before its too late.
Can’t help but see it as a positive that the SP holding steady with all this noise going on, presumably because shareholders don’t realistically believe the vote will pass.
No substantial buys he says.. spoke to soon maybe? Thanks for your useful input as always
Captain Shishir
Plaza I don't think there's anything suspicious about the timing of these subscriptions shares - they were initially expected to be issued around the 24th April so they are being issued later than planned if anything.
Shambles
Obviously a lot of behind the scenes issues with NEDs but strangest has been Murat Erden:
"The establishment of an advisory board of which Mr Erden will be the inaugural member."
So, despite resigning for whatever reason, relationship with co was strong enough that he agreed to stay on as an advisor, also when Shishir visited operations in madagascar in Feb he was on the trip - between then and early-May relations appear to have soured greatly if he hasn't maintained commitment to his share subscription + has his name against the recommended new board
Presuming this advisory board is another thing which has failed to materialise - strange.
Yes not good if you need to sell , however they come in handy when voting.
Any ideas the reasoning for the shares to be issued today and not in a month or so.
Or just no reason and I am guilty also of not trusting.
I own almost a million of these bad boys and if nothing happens soon or the next production numbers are off , I will be voting for new board )
The all were bought at 11p, so a 50% cut, not good if they need sell, to use their salary to pay for things like us normal people!
BB.
Shame that the only one committed to coughing up cash for their shares and injecting capital into the business, Murat, hasn’t followed through:
‘
*The £50,000 cash subscription per 17 January 2024 RNS from Erden Investments Limited, a family-owned Company of Mr. Murat Erden, was not received by the Company.*
’
How do you know this Harchris ? Did Hemant contact you and tell you this and if not then how do we know what your claiming is true???
I never said he was part of the group, he isn't.
I said I am well aware that he shares the same frustrations as Murat and Isabel and resigned due to those frustrations.
Harchris - how can Hemant be part of this requisition group when they collectively own 5.8% of the company? Hemant owns at least one third of TGR which is at least 10% or more since there are only 3 of them, shishir, Puruvi, and Hemant. We also know the family own at least 30% if not more of the company. Explain please????
People saying Hemant is part of this group who are set to put shishir in his place. This has not been proved as there is no evidence been shown. There was another post tge other day saying Hemant has bought land in Madagascar and is starting his own graphite company. Where is the proof of this ? ??
I wasn't inferring that 'something potentially isn't honest and right with the requisition and the proposed director', I don't have a strong opinion about them tbh. But I thought it fair to at least hint at what I know which is that Hemant is someone you can add to the list of NEDs that resigned due to disagreements with Shishir/toxic environment. And his resignation was an attempt to get Shishir's attention long before this requisitioning attempt has gone ahead.
It's not out in the open I guess because he's loyal to his family but it's enough to make me conclude all is definitely not right behind the scenes and has me getting behind the requisition group.