Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Hope we will not get wonga example. He he
Yes,no idea feeling sad, alternative for 1 p would be if we would get some percentage from delivery costs. What is cashed in
Notlucky, what would your alternative be?
The board have unanimously recommended shareholders to vote for the resolution, thus I would assume it will be passed. The board would, most likely, have the support of the larger shareholders. As the circular states, this would be in the best interest of shareholders as a whole.
Also note "On the basis of the information currently available, it is not expected that any final distribution would
exceed 1p / Share." So this falls within my prediction.
Any thoughts or opinions on the latest RNS? Any value for shareholders in January or total wipeout?
Looked on auction site. Would nice to hear how far they are with selling stock. Not the earnings but how much stock left or when is expected last day or week for auction. PEOPLE!!!!!! there should be at least 1 person in warehouse who investing in stock and maybe left with long nose on made.com. SNO....N IS THAT YOU.
Very interesting prices. If people will buy those items for those prices it's possible to get back more. But delivery costs absolutely incredible 71£ for sofa
Very confusing 1 article saying 14 million worth stock will be sold in auctions now next article saying 40 million
Ha ha maximum 1,5 £ million from auction
I must clarify, although I believe shareholders may get something, most will be significantly under-water and it is near impossible to predict the residue value that will actually be left for shareholders. I'd suggest that some reasonable assumptions to make would be that there is a few million left within the Plc (realistically, I can not see more that £5 million here). Trouva is another unknown and the board did not disclose the amount paid back in May, nor do we know how the current climate will affect the valuation. However, if we assume another £5 Million, the total value will be £10 million. These figures are extremely crude, but can provide some rough conclusions to be made.
- Those who bought at above 5p (approximately £20 Million valuation) will almost certainly not receive their full investment back.
- It is possible that there would be 2.5p/share (approximately £10 million) left but even this is likely to be on the high side.
- Likely scenario is that there is a few £Million left, providing shareholders with between 0.25 - 2p/share.
- It is also possible that at the end, there is nothing left for shareholders at all.
They won't get much for it and I think you're being pretty generous at 10 million, I'd imagine that they'd do very well to get that. It is irrelevant to shareholders anyway as it was obvious that there will be nothing left in MDL, even if they got the retail price (44 million) for the stock as they owe too much to creditors.
There is, however, still hope that shareholders will receive something from Made. As I have previously stated the parent Plc (the company shareholders own directly) is not in administration and there has to be assets and cash in the bank, otherwise the company would not be able to continue and would be in complete administration.
The total value of assets still owned by the Plc is unknow, and the value of Trouva is also unknown. Trouva and other assets could be sold, although there is no guarantee of a sale and as far as we're aware Trouva is still loss making.
Alternatively could the company continue to run Trouva, un-suspend on the stock exchange with a name change to trade as 'Trouva plc' or similar? Of course this scenario is highly unlikely, and may not even be possible but it poses interesting questions.
But the likely senorio, as per the RNS's, is that the company will be wound up, involving a sale of Trouva and other assets not affected by the administration of MDL.
If I compare with with wayfair truckload they are not going over 10 grand. Last time when checked returned stock truckloads liquidation. Unique items but too expensive in this kind of shops. No one wants to spend to much money on auctions. People should be very Unique to buy them for those prices. If this auctioner will deliver these truckloads then they will cash alot of money. Max I give 10 million£ for auction items. Somebody here said there are 44 million worth retail price items.
I MEAN MILLONS NOT MEN SORRY
Like I said next didn't want to sort garbage
Looks like didn't wanted to sort mades garbage.it seems to me that he is more interested start from new with mades core. Its laughable that he is saying that he needs more overseas labour. I think it was possible to save it. Loads of choices
It is difficult to actually know the asset and liabilities split between MDL, the parent Plc and other subsidiaries. It would be fair to assume that there will be no value left in MDL for shareholders and barely any for other creditors when all is said and done.
If I am correct and the Plc is not in administration, then it must still have liquidity and cash in the bank. One could therefore assume that this cash (and other assets like Trouva) is protected from the creditors of MDL and still owned by the shareholders.
Most of the cash has likely been burnt up, with, perhaps, a few million left in the bank (although it's extremely hard to put a true figure on this). Most of the stock would be owned by MDL and thus stricken off (although some would be owned by Trouva). However, most of the liabilities would also be owned by MDL.
It is fascinating that the subsidiary has gone into administration and not the Plc, if there was no value for shareholders, no liquidity and no cash in the bank, then the parent company would have appointed the administrators. But in Made’s case this has not happened.
We do not know the financial position of the parent company, and thus we cannot know what value there is left for shareholders. But what we do know is that the Plc must still have some cash and can pay its liabilities - at least for the time being.
There is certainly no guarantee that the Plc won't go into administration, or that there is any value in the remaining parts of the company, however there is still some hope for shareholders, and this is reinforced by the company’s statements about ‘residual value’. Although it would probably be prudent for shareholders to come to terms with the (potential) loss as opposed to procrastinating and clinging to hope. Acting as if there is no value left and dealing with the loss now would be the smart thing to do. If there is any value left, then it would be a genuinely welcome surprise.
Human error they forgot to fill some word he he
I have read the news articles Yuri. However, these articles are presented in a way to be more palpable for the consumer, and miss out on key information for investors. Hence the use of Made.com instead of Made.com Design Ltd (MDL).
The news report is somewhat disingenuous and is misrepresenting what has happened. Made.com Plc are not in administration, which is how one would initially interpret such articles. Made.com Design Ltd (MDL) is the subsidiary that is actually in administration, this is evident from the RNS's which clearly refer to MDL, not the parent Plc.
That news article mentions customers (unsecured creditors) and these are customers of MDL, not the Plc, so one would assume they have no rights over the assets of the Plc. Again, the RNS mentions that the creditors have a contract with MDL, not the Plc. "MDL creditors can contact the administration team via the following channels:"
BBC - Furniture firm Made collapse: Customers in the dark over refunds
https://www.bbc.co.uk/news/business-63539652
From reading the RNS's, Made.com Plc are not actually in administration. It is one of their subsidiaries, Made design ltd that is.
As per the RNS
"Appointment of administrators by Made.com Design Ltd ("MDL")
On 31 October, the Board of MDL, MADE's operating subsidiary, notified MADE that it had resolved to file notice of its intention to appoint administrators.
Further to this, MDL has notified MADE that it has now appointed Zelf Hussain, Peter David Dickens and Rachael Maria Wilkinson of PricewaterhouseCoopers LLP as administrators of MDL (the "Administrators") on 8 November 2022."
There is no mention of Made.com Plc, or any of it's other subsidiaries having filed for administration. Surely the creditors of Made design Ltd have no rights over the assets owned by the parent company or any other subsidiaries.
When reading the RNS's for Eve Sleep or Debenhams, the administration is quite clearly referring to the parent Plc, but for Made this is not the case.
If this is true, then there could still be hope for shareholders and the reason the RNS's have mentioned "any residual value will be distributed to the Company's shareholders and the Company will be wound up".