The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Cannot wait for the Chairman to be voted out and removed. They just want to destroy any value of the business for their own sake, their own employees and for the shareholders. Terrible bunch.
LOL cat. Appreciate the applause.
SAG (aka King Arthur) are just about to lop the remaining leg off of The Black Knight then continue on their journey. "Ok, we'll call it a draw then"
Stokey, my comment was tongue in cheek. I agree that I certainly wouldn't buy in to a company that had a dysfunctional board and I am not looking to add to my TPG holding at present.
But neither am I willing to sell at current prices. The component parts of TPG are valuable (I still reckon a realistic break-up value is 9p per share), and I really don't see the share price dropping below about 4.4p as a minimum (apart, perhaps, from during temporary doom-laden dips). So I see the down-side risk as being much smaller than the up-side potential and willing to hold on that basis.
Lutra ref 12.51 post not when you have a dysfunctional board
Stokey, "buy when others are fearful"!
Having reflected some more o today's RNS I am no longer confident that there is s clear path to me regaining my losses. I am therefore going to sell off my holding and cut my losses. When some semblance of normal business returns I might reinvest.
Fatoomch for the record voting rights does not directly equate to number of shareholders. Your entire defense was that SAG couldn't possibly engage in any disruptive behaviour...incorrect already. I told you to expect another meeting shortly after the last one and what has happened? If you deployed any critical thinking you'd think why are SAG publically attacking the board in the manner in which they are? A backroom deal has clearly been done with enough II's, they know they have enough votes to call meetings and win and the shareprice will suffer, Canaccord will do nothing. You were warned about SAG being a wolf in sheeps clothing but you ignored it because you thought of a quick 6.5p, well the RNS clearly states that SAG thinks that is a premium that is now over, it's clear to anyone with sense that they will obfiscate and disrupt now for 10 months and I expect the takeover offer to be sub 4p possibly less. A decapitated board is just the start. Well done round of applause for you.
The existing TPG BoD aren't prepared to accept what the MAJORITY of shareholders voted for and are acting in a disruptive and illegal manner.
It reminds me of The Black Knight scene in The Holy Grail; the old TPG BoD have lost two arms and a leg but refuse to accept reality.
The market has reacted positively to this RNS.
Strange reaction by the share price. Was expecting further erosion and stagnation for the foreseeable. Perhaps something like a maritime or westek sale type event coming that has changed the rules
How the hell is TP Group going to try to be successful with this going on. SAG are going to do a hostile takeover that’s for sure. I was personally happy to give the new board (before SAG involvement) a chance.
It was obvious what they were going to do here, seen it before and SAG have done it before. They will force meeting after meeting this is value destruction 101. Next meeting to be called will be to call for a full "independent" audit, auditors selected by SAG. I would say I told you so fatoomch but I suspect that you were never really an honest broker. Bad times, we ain't getting 6.5p that's for sure.
Quite agree, looks like a strategy to trash TPG in the hopes of acquiring it all on the cheap. But I fully expect that the results of an AGM will be the same as the last one, with the SAG camp coming out as the winners.
For crying out loud. Are SAG serious the Board did not move as quick as they like so they want to remove the Chair. Sorry but I do not recall any resolution about any strategy. The two companies are separate and I do not see any advantage in a collaboration with SAG for TPG. If we have another General Meeting I will be voting the new management team needs time to try a turnaround.