Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Placing of 162,500,000 shares at 0.2 included in the news …..
a mixed bag RNS ……
It’s a company fighting to survive. But it has a plan.
Clearly pyebridge is only part of this. But it’s going to be an uphill battle foundling all this. The revenue needs to flow.
I would very much like the directors to tell me why the subscription arrangement was even necessary, particularly at the current time. Overall, looks like a very odd deal.
Normbeef,
It doesn't feel as if the company has any plan. It actually feels as if Riverfort are controlling the company rather than the directors.
Why was such a disastrous placing (for existing shareholders) necessary.
Why is the loan from Riverfort only being released in stages. Don't they trust the management?
Bordesley is in "early construction" according to MAST. There is a large balance on the loan. What are they doing?
Rochdale and Hindlip are "construction ready". Again, what is the plan.
Everything here seems to be very restrictive, and for the benefit of Riverfort rather than the existing shareholders. If it is too restrictive then MAST will not be able to advance as rapidly as shareholders expect.
3 Years since the IPO. 8p down to 0.2p. Riverfort in the mix. Are they really that much further on that 2021? Another LC special.
@David, personally i dont expect Mast to recover quickly if at all - it still looks like a binary play to me.. but clearly "the Plan" is to get its current primary asset into play ASAP.. Pyebridge.. this is the fastest route to revenue and in my book is common sense if the company are to survive in any form.
For the record I do agree that Riverfort are likely calling the shots to some degree, as they would not take on this risk without some form of control. Is that a bad thing ? im not really sure yet.. clearly they will have their own interests first and foremost over the shareholders of Mast. (thats obvious from todays placing)
The path to any kind of recovery beyond Pyebridge will require more detail which you would hope is now being worked on in parallel to the current activities..
Look at SAR as a recent example of what the riverfort effect is. SP completely decimated and only now starting to recover once they are out.
I dont buy into the idea that Riverfort are the villans here.. clearly its the Management and companies like Riverfort take a large risk and finance dog companies like MED..
Ask yourself.. if you were asked to stump up £4M to run an almost bankrupt company with no liquid assets and a pile of debt what would you do ?
Who wants to end up trying to sell a load of old Gensets and wires..
Believe me I dont love Riverfort.. but I dont blame them either.. they will want a significant say in what happens.. they will also want their money back + change ASAP..
If MED survive and eventually dig their way out of this Mire then it was all worth it..
Like I say.. for me its still 50/50 win or lose gamble.. but if PyeBridge gets going full speed by the end of Q2 then MED has a punchers chance..
Explains why the PS was held back low over the last 2 great RNSs
At least they have the funding now to progress to fair price.
Its business. happy days ahead, its oversold and under priced which is great to see.
plenty of scope of here now.
getting interesting now, was not much in , good things comes to those who wait. :)
I feel for you guys having gone through the RF turmoil with SAR for many months now ...
In brief with SAR when they took on the funding arrangements the SP was 103.5p .... at which point we picked up a number of doomsters spouting 'death spiral' and watch this plummet ... most of us considered their spouting to be complete BS .. to our detriment .. I now wish I had listened when they started their negative rants ...
Initially RF drip-fed into the market and the SP seemed to stabilise at 80p ... but once they started offloading in larger chunks the SP really started to collapse and in the end the LTHERS and HNWI came in and bailed out the SAR BOD from their naive or incompetent RF funding decision .. but by then the placing was at 10p which also reset RF's warrants from 143p to 10p and all future shares picked up from SAR at 10p also .... so they have made a killing on SAR and have just today requested over 1 Million warrants at 10p, originally 143p
I am completely dumbfounded how any Companies still consider RF as a funding option after seeing the companies they have destroyed prior to this educational lesson;
PS : At one point many thought that RF were attempting to decimate the SAR SP in order to take over the company with a funded loan for a few pence a share ..... all just speculation but stranger things have happened
So my advice would be to look back at the SAR BB from the days when PUMA was spouting DEATH SPIRAL and look at the trend from that point and make up your own minds on what next to do .. hold or sell etc
Good luck to all and apologies that you have become entangled with RF
I dont doubt that RF have their fingers in many pies and some of those Pies went badly.. But..
The one big difference I see here is that MED was already on its knees in terms of the MCAP prior to RF getting involved. The MCAP is already almost "nothing" and after todays SP placing and the full RF loan is now ~5 x the current value of the company !! .. the risk / reward ratio for RF is very bad indeed.. its a terrible deal for RF should PyeBridge fail
This is what leads me to thinking that with a glass half full that if MED could get PyeBridge going at full capacity then the current MCAP has to be incorrect. For RF to extract / make a return here then MED has to succeed because the NAV wont be enough to cover the loans or the interest.
I just dont see RF wanting to liquidate MED as i think they will lose..
They might take a big chunk of MED.. but only if it succeeds !!
You were warned about LC and took no notice. Still, no doubt he will start another business with end of the rainbow type rewards which you will pile into. Remember the pied piper, Goatzee is probably that same man.