Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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I remember a dividend last year, but cannot recall any dividend before that and I have had fto shares for 20 years. I must have missed out!
Well said
I have had the shares for about 14 years. There was a special and very large dividend last year but for many years before there was an ordinary div once a year. Aug 13 0.16p, others were june 11' jul12' etc They are very cheap with good results. The truth will out eventually. For value investment it always does. Supreme patience is the best virtue in investment.
Mistralis,seems we are,but it should not be too painful as the Company have many high quality lubricants to ease the pain LOL!!! Regarding the share price,I personally believe that the falling Oil price ,and current negative global sentiment,especialy in energy markets is a factor here. I am really surprised by the oil price drop, as normally the price spikes up at the start of the Norhern hemisphere Winter,although I do understand there is an oversupply problem, not helped by Fracking.
Might as well say it as I see it. This share looks like it's heading back to the 1 - 2p days. Talk about patience from us PI's. Twenty odd years and one divi from this company ( although not to be sneezed at ) in all that time, and now no further payouts on the horizon. W t F gives. Are we being shafted or what!
Wondering what those violations ,if proven, would cost FTO? In the long term, what is their strategy?... Is it to develop this project,or sell it to a third party....have any decisions been made or is it all still in mid air?
This is old news. When all licenses are granted they usually invoke some form of expenditure over a period of time in order to maintain the license. For example if an oil exploration license is granted, it usually has as an attachment, that certain monies has to be spent in the first year and the second year and the third year excetra in order to develop the license. FTO has decided not to spend any further monies on this project until economic conditions materially improve to make the venture profitable... http://www.lse.co.uk/share-regulatory-news.asp?shareprice=FTO&ArticleCode=jv91stwo&ArticleHeadline=Re_Armenian_Iron_Ore_Project This is standard procedure by any Government in any country to ascertain the future prospects for development of the license.
Must admit that when Armenia was first announced I had a feeling it would not work out. As per the finals FTO have written down the investment. At the AGM I spoke to Frank Attwood on Armenia and suggested that as the strategy has changed then would FTO consider a cheeky offer. His response was quick (we will listen to any sensible offer) and suggested to me that discussions were on-going (internal or external perhaps). When I saw the link I concluded straight away that this was part of discussions and an interested party (internal to Armenia perhaps) showing more of their hand. I would not be surprised to see an RNS in the comming year to announce an exit from Armenia for a small amount of monies; FTO I hope will now focus on what they are good at and put this down to experience as all their other bets (Bluesky , Mamoning and CGH have paid off ..... though us PI's are yet to see the rewards).
Very interesting, how did you come across this? As time goes on more questions than answers appears to be the trend with this company; indeed I am not convinced of their commitment to transparency that was promised when changing from Premium to Standard listing on the LSE. I could sell tomorrow at the last quoted price and make a significant profit as I purchased the majority of the shares when the were a penny or two; however I am hanging on for some upturn and will be following their activities more closely.
Armenia’s state inspectorate for mineral resources to examine Chinese fortune oil - See more at: http://arka.am/en/news/economy/armenia_s_state_inspectorate_for_mineral_resources_to_examine_chinese_fortune_oil/#sthash.lVJK6Ibc.dpuf
Mms having a problem holding this down today for a change back in the 7s soon
The div was not paid this year as the co said they had exceeded the formula on last year special div. Still smoke and mirrors. On the face of it huge profits and solvent but bod secretive in spite of having large amounts of shares themselves sorest ably would like a higher price?
I used to hold here and still monitor accasionally. Has the cgh fto position been made any clearer as was always a funny one previously? Special dividends were OK though did they continue?
We Will all be rich
of purchases today, especially as some 250,000 'sells' were in fact purchases, and yet we are marked down, again.
Irritate yes, holiday money no.....
Having been here before, I always get the same feeling that FTO could simply dissolve away to nothing, yet every time it bounces back, never very much, but always by a few pence. The Stockbrokers cannot take it seriously, and neither should any of us. It is there to irritate and provide holiday money each year. Come the summer, it ought to be up at 10 or 12 pence again.
Woooo
A very disappointing undervalued share with no sense of direction at the moment...! Would love to know what the Bod have in mind for this company and what, if any, time scales they have set ?
of purchases today with full ask being paid.
Thank you for clarifying the listing status and the non-effect on pricing, I do wonder why the sole institutional investor pulled out shortly after this was announced.. The reasons for the listing change from the 2014 Interim statement is as follows (quote) "As a result of the FGIH Transaction and the change of status of the SPM joint venture, the Company was no longer able to maintain a Premium Listing on the London Stock Exchange"(unquote) The foregoing says a lot yet says nothing. Have you any idea what was the nature of the deals were that brought about this measure?
The move to standard listing is not a reason for stock to derate - most institutional investors know what they are getting into when they invest in an Asian company with a controlling shareholder. Whether it has a Premium or Standard listing offers little protection. The largest and oldest Asian conglomerate - the Jardine group moved from Premium to Standard listing and had no impact on the valuations or any shareholders getting out. The only reason that FTO trades where it does is that it is too illiquid and therefore inefficient. Retail investors do not have the fire power to keep it efficient. This will likely be bought out in the next 6 -12 months - and I think they will offer around 40% - 50% discount to NAV - which would be around 13p at current valuation.
Hi Calisto free float is 729.04 million , source of information below http://markets.ft.com/research/Markets/Tearsheets/Summary?s=FTO:LSE
does anybody have an idea of what the exact free float is?