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.
when can we expect shares to start trading again? is there a time scale?
DOH!!
Dan I am hold almost 400K, but with avg 1.26. So not as bad as your and some other LTH
Not for me either Amers. My average here is 3.48p having been spiked by the fake sheikh scandal and being in and out like a stupid yoyo. Holding 100K so not a major concern for me and prepared for the worst. GLA, Dan.
Nozzla "I imagine a big sell off today following that RNS. No one wants money tied up"
You have a very fertile imagination! Seeing as today is 30th September, the suspension is only anticipated to last tomorrow and Monday 4th. I would therefore doubt a "big sell off today following that RNS" as most people will be in for a term longer than two working days.
Nozzla "and with the distinct possibility that they've no cash flow, the results could be very bad."
Where is your evidence for this statement? Your imagination running riot again?
Nozzla " Also, why was there a need to open a new bank account?"
Many banks have changed their lending and account criteria during the last 18 months to two years. My business sector (Property Management & Lettings) have had many banking issues with some banks (such as TSB & Lloyds) stopping and closing all Client Money Accounts. Banks we had been with for many many years suddenly telling us we had to find new accounts with a new bank. This meant we had to make inquiries with various other institutions. With slow responses to inquiries, allegedly due to furlough, and various dead ends it took us over 3 months to get new Client Accounts organised, opened and operational. So, I for one, can understand the comment regarding the bank account.
All sounds pretty plausible to me.
I m currently down 25% and won't be selling, will wait for the outcome, hopefully next week.
I imagine a big sell off today following that RNS. No one wants money tied up, and with the distinct possibility that they've no cash flow, the results could be very bad. Also, why was there a need to open a new bank account?! all smells very fishy.
Yep. Quite a few 'joke' trades though. GLA
Nm.
Hi Kingivor and Amers
Thank you both for your response.
We will need a miracle for things to turn around. What surprised me is why the Lekoil Nigeria is still backing Lekan if he is not maximising shareholders value like he mentioned in his last interview?
Well I put some money in this company despite severe reservations about investing in African companies, and Nigerian in particular, and can't say I am disappointed. Given the rise in Oil Prices and the number of oil companies that were in trouble before the price hikes, and the fact some of them managed to turn things around, I thought this might be the case here. Sadly, this company has behaved like a lottery syndicate that wins the big prize, then spends the money on expensive lawyers resolving petty squabbles until there is nothing left. I shouldn't be surprised, and until this company and others in Africa up their game, and demonstrate they can effectively produce returns and make a success of a company, it will again be a reflection of the sad state of affairs in Africa, and will gift the mineral wealth of Africa to countries that can effectively exploit them. Namely China. Sad, I hope things improve, but doubt they will ever stop squabbling and get down to business.
Hi Pandou - sorry for not replying sooner, but was busy with wedding over the W/E. I am still holding considerable amount and will see to the end. Not point selling, as I am in the red zone.
Doesn't look like a compromise is likely.
Pandou
I reckon sp angel may well call it a day here now
It keeps on giving! What a nightmare!
Why can’t they come to a compromise and move on from here! Kingivor, Bigmai, Amers - do you still feel positive about this share?
I was hoping with the oil rally this share would have come good but Metallon has made it worse for the shareholders.
Can it get any worse?
Someone is hoovering the sold shares, if PI’s stop panicking and hold then the SP will rise cos of the demand
After hrs reported trades clearly point to a buyer in the market at 0.95p
Certainly sub £5 m.cap even with the current mess is a massive mis-valuation
Think we will find out the direction before the accounts for 2020 are released
Richardson has to go first
What price did Lekan purchase his Lekoil Cayman shares at? It must've been much higher than it is at today...and so, it is likely in his best interests that he finds a compromise / new way forward here with Lekoil Cayman.
Very hard to call how this will play out.
A compromise with Lekan would do wonders for the share price.
not seen that for a few days. GLA
Agree
But if they have fallen foul of articles and trading rules they are in hot water together with the nomad