Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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With 46% of the companies they invest in not listed on the web site how can investors make a sensible decision on adding to their holdings.
The temptation is there for us to increase our holding in WPCT but with no knowledge of what the other companies are or their worth it is hard to add more funds. It may be the bargain of the year (after FFWD which is ridiculously low) However the quality of the staff is questionable. He should come clean and let us know what we have invested in and how they determined the NAV.
There has been a lot of big buys, so some are confident. The selling has eased so it is up to us to decide whether to gamble on the NAV of 81p being correct.
Revaluing the NAV on a daily basis is daft. They still don't get that investors' concerns are now primarily with management (and mis-management)?
Not been reading the RNS my son. They are revaluing the NAV every single day. Obvious it is is not entirely kosher as non quoted shares are a view only.
and Woodford is in charge of selling stocks that will effect the WPCT NAV, what has he done in the last few weeks before the WPCT has required him to 'let them know'!!!
With most of the current Board connected to Woodford this is still a gamble and I wonder how many will still buy when the NAV is adjusted when the fire sale prices are (if) released.
Yep, another shocking choice from someone who's supposed to be a good manager.
The worrying thing is if he had the money, I've no doubt he'd have bailed it out again.
I thought I was bad at trying to catch falling knives, but I do get some right.
And to think this bloke was playing with billions of other people's money, whereas I'm only gambling my own.
Seems an obvious case of having too much money and not knowing what to do with it, to me and it's cost him, big time.
Looked them up but seem to have a nil value as you predicted
Was that in this trust as I can't see it in the top 10, but I guess as it's now effectively worthless and suspended from AIM that was another duffer bought by the great man
I have never heard of an Island being unavailable looks like carelessness. The whole thing is obviously a scam!
apparently the magic ingredient was "charcoal, made from a particular coconut collected from a South Pacific island" but unfortunately "no longer available".
Rossi served time in prison twice and was convicted of financial fraud. In January 2011, he claimed to have developed a commercially viable “cold fusion” device.
Today Carolan Dobson the only non exec without financial links to Woodford has resigned. At the same time the board has vowed to reduce gearing from 17% to 10% of course gearing is one aspect but NAV is another although much of this is open to conjecture. We cannot assume everything on the down side some of these non quoted shares could come good but over varying lengths of time. the cold fission or is it fusion I know nothing about not being a nuclear physicist. I knew one but out of touch. I may see him in the autumn.
Today Carolan Dobson the only non exec without financial links to Woodford has resigned. At the same time the board has vowed to reduce gearing from 17% to 10% of course gearing is one aspect but NAV is another although much of this is open to conjecture. We cannot assume everything on the down side some of these non quoted shares could come good but over varying lengths of time. the cold fission or is it fusion I know nothing about not being a nuclear physicist. I knew one but out of touch. I may see him in the autumn.
Good, reads as if Woody had no leash to WPCT. If the NAV is evaluated lower, quite likely imo, then the gearing will be far higher and a problem to wipe out in 12 months.
So still a higher investment risk than anticipated for this IT.
Best closing SP for two weeks. Oversold way too much and going back up now.
However, Woodford is currently at the centre of a controversy after one of his flagship funds was suspended earlier this month. Woodford had invested in a high level of unlisted companies, which created a mismatch between liquid assets he could sell to meet rising outgoings. Regulators decided the best thing to do would be to freeze the fund.
The suspension has left £3.7bn stuck in the fund and thousands of ordinary investors unable to access their money.
The issue for the government is that no government in the UK will be popular until it starts to address the ever increasing financial inequality which leads to so many injustices and social wrongs in the UK. Just my opinion.
However, money is okay in so far as it facilitates the trading of goods and services which is what has driven economies ever since money was invented.
However, money was only ever meant to facilitate trade or to facilitate the exchange of goods and services - but now that it has become something which many people seem to desire in its own right it causes many social and health problems
I can't help feeling that once more people remember that money only exists to facilitate the exchange of goods and services then society will become a more fun and helpful place to exist within.
https://uk.finance.yahoo.com/news/woodford-equity-income-fund-suspension-fca-andrew-bailey-140447394.html
https://uk.finance.yahoo.com/news/the-10-countries-with-the-best-and-worst-quality-of-life-100249902.html
"... the nuclear process is facilitated by a secret additive, known only by Rossi ..." sounds totally legit
Very bearish article in todays edition
where do you cover ?? the thing is, unlike some of the targets for short sellers, this isn't going to zero !
I would disregard DHC's comments - just a ploy to push the other share.
It does look like somebody significant is buying though - I very much doubt it's retail investors.
This does look cheap, and if your info turns out correctly it may jump right back.Only problem is the NAV, if correct then this is a very good buy. We will buy today / tomorrow
I have looked at the significant shareholders in Westminster. Apart from the great and good the only corporate one appears to be Cannachord. So I am 99% certain that Woodford does not have a stake in WSG.
At a 38% discount to Net Asset Value the shares look a bargain. But Mr Market might have other things to say if there's more volatility in this or his Income fund. In this case, if your about to take the plunge, fortune favours the brave.
I am very surprised that the sp has recovered a bit when another great investment of Woodfords is about to be worth 0 (RM2) !!!!!!!!!!!!!!