Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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The results also stated that they would / need to announce the agreed production numbers for China by the end of November so I would think if they are going to get the financing in place it needs to be by the end of November.
RM2 Interna onal S.A. ("RM2" or the "Company"), the sustainable pallet innovator, today announces that it has appointed Strand Hanson Limited, the Company's Nominated & Financial Adviser, as its Broker . Theinforma oncontainedwithinthisannouncementisconsideredtobeinsideinforma onpriortoitsrelease,asdefined in Ar cle 7 of the Market Abuse Regula on No. 596/2014, and is disclosed in accordance with the Company's obliga ons underAr cle17ofthoseRegula ons.
In the *non-audited* RNS results from Sept 27th we were told news on financing was within "a few weeks away". A few weeks has certainly passed and the stock has lost another 33% so it is fair to guess the talks aren't going well. For a company in so much trouble, very little seems to be happening behind the scenes.
We can take solace in the fact that we poor minions were not the only ones to call this investment wrong. As mentioned Woodford got it completely wrong as did the directors, some of whom have invested heavily. All very quiet on the rns front. Expect the next one to be a half hearted apology re administration. An unfortunate management and series of events has seen 150 million go up in smoke... I have been burnt with small oillies that have lost a fortune on bad drills and the depressed price of oil but pallets? Who would have thought ?
Cracking post Daction and I echo FastJ to the very core. I have had a few members of th infamous 99 club myself having been through dot.com and banking crashes. I think your reasons for investing were sound it is just events have not gone the way you could reasonably expected. Taking a hit and moving on is the best move. Over time you can and will make money in the stockmarket. Don't get too downbeat over losers nor too upbeat over winners. look back at why you invested and without using hindsight ask yourself what could you learn from your investing decision that would inform you ona completely different share? You probably have listed them already. over-reliance on the newpaper and reputation of woodford. These are not bad in themselves as that approach can also bring you winners. Not enough research or over concentartion on one share? The former may be in your remit, the latter certainly is! Brilliant and refreshing post by you!
I only post on here extremely rarely, and haven't done so for a very long time, but I thought your post merited a response. It's one of the most measured, realistic and compelling comments I have seen in ages; expressing regret but without apparent bitterness; talking of lessons learned and offering cool reflections on the experience overall. I have dabbled in AIM shares myself, with the mixed results one must expect in this market. I often read angry and illogical comments from unsophisticated investors who want (usually) three things - an RNS today, the share to be a "ten bagger" and the board of directors to be sacked..... You will, I hope take your more reasoned and realistic approach forward to success and I wish you luck.
I don't know why I've waited so long - but sold out my holding today. On the limited information I can glean from this company, I cannot see any future as a private investor - I can only see this being wound-up for a total loss. The likes of Woodford could save it but it's been so long since we learned that the last fund raising had failed - surely the limited temporary money that Woodford and others put in during the Summer must be running out by now. I bought in to this company from day 1 paying way over the initial IPO all on the strength of a brief Daily Mail mention saying it would be a good thing and just look at all the star Board of Directors it has ! There was never much info coming from those star BOD - announcements were amazingly few and, with hindsight, the sorry tale could have been foreseen. I paid too much attention to the fact that Neil Woodford Patient Capital Trust was heavily involved - and so clearly they too can get it badly wrong. I assumed that they must be getting more information than me - clearly this was not the case - and in that I was naiive. So from a top �1.11 paid - today sold at 4.5p. The total loss is ghastly. I've since changed my investment methods and think I've learned from this experience - the most important being do your own research and set share price controls - of course all too easy to say. Good luck to remaining LT investors.
Can understand the selling but the buys are perhaps wishful thinking ? The remaining funds are almost depleted . If and it�s a big IF but should they raise further funds the dilution is going to be massive. This companies cash burn has been horrendous with mistake after mistake. This is a good product but the execution has been woeful. I can only see administration looming.
Shatter as a novice investor could you explain why people are buying this share almost every day even at a 22 spread
Starting to think something stirring in the world of RM2
Women and children first...
Very sadly, the end is near now ! What a shame as it looked so promising a couple of years ago when it floated . Well done Mr P. Walsh, involved in both AVN and RM2 and both about to go under.
Looks like we could be in for a strong finish
Financing talks must not be going very well - as always the share price knows it first.
Anything is better than losing your investment but to date no big investors are seemingly willing to throw more money at Rm2. They are already in it up to their oxters ! �20 million with this companies cash burn won�t go far . A huge amount of money has already disappeared with one castrophe after another. Anyone who is willing to invest will want their pound of flesh. If it remains as a trading company I can see it as a fraction of a penny, but I fear administration is on the cards. As you say where are the contracts? If an investor saw contracts with the resulting revenue then why not invest but if there is no return, risky or otherwise, then the plug will be pulled. This is only my opinion but I hope for all our sakes I am wrong. Gl all. Expect nowt and we won�t be disappointed. On the surface this appears to be a good product so why does it appear to be so hard to sell?
Surely a 50% dilution which gives the company a life line to stay in business and grow is better than loosing your full investment and potentially we would still be a company with no debt and a growing revenue stream. I also think that Molson, Verlinvest and Woodford would not have thrown an additional US$20m at the company back in June if they did not think it would survive. Some say they had no choice but yes they did, they could have walked away, taken the hit saved themselves the US$20m However, we still have a chicken and egg situation, we need contracts for the finance and finance will not come without contracts. If they do manage to pull it off I could see a nice tick up in the SP
I agree. Rm2 are going to need a small fortune and where is that coming from? Even 20� million is going to result in 50% dilution... Only see this going one way 👎🏿
Maybe but the market clearly doesn't believe Rm2 will get the funding - or if it does, not on anything near acceptable terms. Not sure how a decision can be 'weeks away' as of the release date. One would've thought they either had a deal or didn't by now.
If they can get the finance in place and the the sooner the better as once they are confident on the timing they have hinted they will use some of the cash due from monetizing historical assets estimated US$7.7m towards the purchase of pallets therefore reducing the fund raising , The sums per operating year are as follows Existing 272k pallet pool revenue US$ 7.4m Additional 400k pallet pool conservative estimate US$ 10.89m Total revenue = US$18.29 Operating cost US$1.4 per month = US$16.8 Light at the end of the tunnel maybe
Worth a read - open to interpretation but they sound confident they will have the purchase orders to obtain the funding and keep the business going. But then, they also explain the company could hit a wall by Feb-17 if nothing changes and/or they don't get the POs along with the funding on agreeable terms. So no guarantees, but things happening in the background. We saw how quickly things changed with the Jasper Judd CEO situation (gone within 4 weeks) so there is no way to know whether they will be able to save the company in time, but if they do, hopefully we're through the worst.
Does make you wonder why AT & T are persisting with this dead dog, maybe they are the interested party ? https://www.healthcarepackaging.com/article/logistics/gdps/live-healthcare-packaging-expo-smart-pallets-are-future
It is funny how most of the directors are "non-executives" Walsh. Wasn't it his baby to start with? its a simple way out. "Nowt to do with us mate. We were only advisers to the board, nobody listened to us.....bla bla bla" I bet non of them lost money and all made a pretty penny behind the scenes and they will all just walk into another cosy top exec post. It would be interesting to know just how much time each of them spent on the pet project.
The vets on its way, stuck in traffic...
What do you mean dog on its last legs, SP jumped 9% today lol