Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Was the placing of April at 43% discount a prelude to KDNC sale? If that's the case, at what price? Most likely the offer price will be a good % above market price and they will tell us is an excellent opportunity. Well, I believe the price will be much less than the 21 p some people were saying is our value. Bannor what is your opinion?
Kluck17 .....as you may know I don't do SP Predictions but I will tell you some facts that in my opinion might influence a buy out of Cadence ...
We have holdings in EG1 ... currently less than 50% of their listing value ...& a small % (or less!!) of EMH which whilst recovering some won't add much to our MCAP even if it trebles.
There's Sonora which for us is currently cancelled so valueless but ...it could at some point in the months/years ahead provide something from minimal compensation to a significant litigated compensation... but likely many years away in my view.
Then there's Amapa ... our last chance saloon as far as I'm concerned with a current NPV of just under $1bn ... but still requires a lot of work, time & financing in the $100'sM required before operations restart probably in my view a couple of years minimum assuming everything goes well from here on in.
The BoD have a sizeable number of warrants exercisable at 29p so if you're looking at a buyout recommended by the BoD I would expect they'd want it somewhere north of there to make exercising the warrants viable for them....... however IF and it is a big IF a 3rd party made an unsolicited aggressive takeover offer to shareholders at between 15p & 20p I reckon it could be successful......I'd certainly consider voting for it. .... however with the number of shares our BoD have now issued & have as warrants on a to be issued I think an offer to buy us out is a tad unlikely until Amapa is a nailed on going concern (maybe early next year) as there's currently nothing else to buy us out for IMO.
IMO the placing was probably more akin to a margin call due to the decline of EMH hence the discount and dilution. Jindal is publicly traded, why wouldn't they buy KDNC and then take the right of refusal to get to 49%, I think it would work out far cheaper for them to do it that way and they would be probably be able to utilise KM to continue managing it for the interim (similar to the Secker Sonora situation).
Book value of Amapa is about £32m and with the other assets say £35m-£40m which gets you to 15p and would be a disappointing outcome as it should be worth far more than book assuming the 67% news is positive and licenses are
granted.
Licenses are probably the one thing we'd need to wait on to get a big uplift from that value.
I think 20p+ would be enough to secure the majority that they'd need due to the enlarged share count and the current valuation, but there could be other bidders to push it higher. It really should be more like 40p given the potential of the project, but in the current environment that would be a big ask but maybe once licensed and financed are secured it would be possible.
Thank you Bannor. I highly appreciate your views.
LoL - I suspect you're very much in the minority @KLUCK17 but cheers - everything I say though is only my opinion based on what i can see & assess so should be taken with a very large pinch of salt....
...as a note of caution my record on decision making even with all the available facts & information available at the time I made choices is not necessarily great ..... as my collection of 'ex wives' are a testament to 😂 ....
One thing I definitely got right though was years ago when we had 12bn pre consolidation shares in issue & I said the way our BoD were performing we'd end up with over 20bn shares in issue & here we are (post consolidation) with well in excess of that number when you take the warrants into account.... Ho hum ....😁
Should we all be posting that we’d accept 50p, just incase @Bannor…
.well if we're just going to throw numbers around why not £1 ...or better still £5 as a mod to the old 5p party .... but I'd settle happily for anything 20p plus & potentially with a bit of a grudge less .... however something's got to make it happen first .,. & fingers crossed Amapa doesn't turn to the dust everything else has so far or we'll be walking away with empty pockets
Well 20p would be a bit like pulling the Yellow and Black striped handle in front of the seat in my view....
5 bob then