Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Probably an innocent oversight I imagine but an unwelcome distraction anyway.
Onwards & upwards...
Possible marriage issues maybe
'The Company have been informed that the transactions were executed by Denise Boughtwood in ignorance of the restrictions that apply to her under Article 19 of MAR and under the Share Dealing Code as a PCA with her husband.
Martin Boughtwood is co-operating fully with the Company's investigation and the Board is considering appropriate courses of action in the circumstances, both in respect of Martin Boughtwood's position as a Director and also his role within the Company. Further announcements will be made in due course as appropriate.'
I'm sorry but they should come down hard on this. I work for a large company and I neither ever discuss it by name, or otherwise nor do I buy its shares on open market. We all have a Share Scheme in the UK in which we notify the company and its broker if we buy or sell shares openly on the market outside of the allowable company scheme. Not to mention selling within the scheme, which requires paperwork and officialdom.
There's no reason for someone of her standing not to know imo, I'm sorry.
An unwelcome distraction indeed, given the positive news to come here. As his wife, if she's daft enough to be buying and selling in breach of the rules, then he should resign forthwith to show solidarity with the honesty of the company as an entity, then boot her out of the family home for causing unnecessary angst.
She probably doesn't know a pareta drive from a bottle of chanel no.5.
Well I was thinking, we are due an RNS . . . but not that one!
It does, however, go some way to explaining the price fall which should now react accordingly.
β¬οΈ
Well, she clearly knew how to evade registering share sales for 4 months and I'm glad it's come to light. Of course it's more a personal issue rather than a company one, but it does call into question her integrity imo and although in principle her husband's resignation might make sense, he may genuinely have not known. It may be him that has reported it, who knows? She also may have made an oversight, but personally I don't think there are any excuses for people operating at that level of wealth not to know the rules. The rest of us little people have to abide by everything to the letter or we are in deep doo-doo. It should be no different for directors or their kith and kin.
One has to hope that Mrs Boughtwood was doing this without the knowledge of Mr Boughtwood , at least then he will have a line of defence. Could get messy...
No reason at all why it should get messy. Experienced investors will buy up any dip now we all know the reason for the recent price suppression.
It's just a distraction, no more than that. Nothing to do with company performance or taking away from the positivity surrounding the company.
Maybe in the longer run, she's done us all a favour.
TW
I agree - just transferred some funds into my trading account.
Not really. Men diddle the system too. If that's what this is.
I think we've all seen more than our share of dodgy directors on the stock markets, especially the less regulated ones, who simply got greedy and ran companies into the ground, with not a woman in sight.
Anyway, the good thing is that it likely is a private matter rather than the company doing anything wrong, but could go some way to explaining the rather baffling drops and stagnations in sp here recently. Having said that there's plenty to look forward to here and it's all building up to one would guess, much better and tangible things towards the backend of 2024 and into next year. All of which should be exciting and hopefully see us in a new ballpark!
Morning TW ... well it could definitely get messy at Boughtwood Towers!
...but i entirely take your your point and hopefully has no bearing on the companys prospects - however any scenario that see's Boughtwoods position with the company under threat is MOST unwelcome.
G L A
P.s.
I find it very difficult to believe that she has done this with his knowledge , if that is the case he is not as smart as i thought he was.
It indicates to me that the company might have been looking into the reasons that its own share price has been so depressed into this year.
Personally I feel that anyone selling now is on totally the wrong track. This (unwelcome) news hasn't changed the fundamentals of DGI one jot. Sure, it'll bring out the odd scaremongerer with an agenda, but try as they might nobody can say this will make a scrap of difference to our prospects.
Blueveiner - I treat your question with a liberal dose of salt. If she "knew anything" she'd be buying.
What? Unbelievable! IMHO DYOR
I had planned to buy more tomorow , just waiting for some funds to clear.
My plans remain unchanged...
Off to work...
Catch up later
MG
Hopefully it is just a distraction but until they tell us why she sold and something believable then it will hover around this level or lower but the following tells us why we wont get the truth
"The Company have been informed that the transactions were executed by Denise Boughtwood in ignorance of the restrictions that apply to her under Article 19 of MAR and under the Share Dealing Code as a PCA with her husband."
If she didnt know the rules she would have sold the lot in one go not selling in small chunks trying to sneak under the radar thats premeditated
It does look that way - premeditated, and trying to get away with lots of sells.
Was she caught in her tracks before offloading more or had she finished? I'm amazed at the arrogance of thinking you could get away with this when it's driving the sp down for no good reason, not after the latest positive EVage news, which we should have soared on tbh.
Worth noting that her husband was the one that reported it in. But is his position actually tenable anymore? With this wording it appears not to be so secure:
'Martin Boughtwood is co-operating fully with the Company's investigation and the Board is considering appropriate courses of action in the circumstances, both in respect of Martin Boughtwood's position as a Director and also his role within the Company. Further announcements will be made in due course as appropriate.'
@tsbs1...
Spot on ; if she was ignorant of the rules - why sell off in little parcels , by her selfish and reckless actions she has compromised us all. I don't know if Mr Boughtwood is a party to this or not but it stinks and the board need to come down hard on it , any attempt to sweep it under the carpet will not sit well with me.
Good luck. I do think we would of been ok without her doing this
How can we trust them? The product is superb and massive potential. This needs to be cleared up asap
@ novice trader. I think you should sell. ( well that is if you actually have any shares)
Youβre just not cut out for investing plus you are such a novice.
...and the product is still superb and the potential is still massive , this is an unwelcome and unsavoury sideshow but hopefully it will be dealt with in the appropriate manner and we will move on...