Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Part of my investment strategy with Sirius has always been to rely on information from the company. I was always pro CF and BOD because I always believed in the message they were giving out. Is that naive? Maybe now - but if you’re going to invest in a company surely you can’t unless you have total faith in BOD?
Right now I’m struggling because as far as I’m concerned as a SH I don’t feel I’m getting enough information from CF and BOD. I want questions answered:
1) who else came forward in SR and why was the AAL route taken? Who was it really better for? Why can’t talks be continued?
2) How far had discussions progressed when I supported company with my 15p in open offer?
3). Something that always bothered me but why when SIrius was flying high in 20p open offer was stage 2 not dealt with then?
4). Why did CF immediately deny wanting to take company privately when it was reported in Mail recently?
5) why did CF change his tune recently towards private investors telling us we’d not taken advice when his previous messages to us had been so persuasive?
6) Why did it seem there were always leaks before SH’s were told of important news?
7) worried by JP Morgan and those connected to it shorting and forcing share price down - was it just shorting or insider trading?
Those are just off the top of my head.
I was recently told by IR to listen to last words from CF in company presentation. I did several time’s and believed what he said. As far as I’m concerned now SH’s much more loyal than me to the company have been left high and dry without answers. However ruthless business is there has to be a certain code of right and wrong and how SH’s have been treated imo is not correct. That’s why I’ve joined ShareSoc - if all those questions are answered and it’s all above board then I can let this go and feel happier and accept full responsibility. Communication in life is vital - if you don’t have that then situations like this arise. Hopefully through ShareSoc we can communicate. For the sake of all SH’s - but most especially for those who live near the mine, invested their life savings and pensions in a local project and will have to see it every day and be reminded of what potentially they have lost we need some answers urgently.
Cracking post Fred. Well said. More questions than answers. WE NEED - AND DESERVE - ANSWERS
"Part of my investment strategy with Sirius has always been to rely on information from the company. "
But did you ever listen to critics of the company?
"just got to try and remember there are a lot of investors remaining positive that don't post on here. This board can get the most positive of us down!"
Partially
Fred16, you are absolutely correct in requiring answers.
This is 100% CF’s making. 2 stage finance was his plan. No one else’s. He has failed the very people who employed him as CEO to deliver.
His silence and hiding behind the take over code with chaperones is deafening.
He should have the common decency to answer shareholders questions.
The trouble with him is he thinks this is still his private company.
It is his first foray as a CEO. Perhaps it should be his last?
I was recently told by IR to listen to last words from CF in company presentation. I did several time’s and believed what he said.
Good morning Fred
was that verbally or do you have that in an email ? If so it might be worth sharing on the other board ?
Kind Regards
ffc
Fred
In fact why not share that whole post there ?
Excellent post BTW
ffc
Verbally twice - he spoke to me for much longer than he needed to - over 15 mins each time.
It's one of the issues we have to deal with as shareholders; moral and legal culpability are not the same.
In the same way pursuing the wrong strategy doesn't demonstrate illegal activity has taken place.
Commercial ventures fail everyday. Economist call it Schumpeter's gale. It's just a fact of capitalism.
Proving legal culpability can be an immense task, where as pursuing the wrong strategy eventually becomes self-evident.
Devon you are a complete and utter @r se hole
Filtered
Tristan sounded very dejected when we spoke last week
mmmmmmmmmmm
wonder if he's chosen sides yet ?
"Devon you are a complete and utter @r se hole"
They wonder why they lose money....it's always someone elses fault..
Hi devonplay - that is something I have been thinking hard about. Yes there were some - casa, sippn00b and IBAB come to mind. I had some argumentative posts will all of them initially but ended up respecting what they were saying. I believe IBAB - just think he’s interested - if I’m wrong then just add it to the rest. Plus they weren’t ever rude. SL I listened to initially when he changed his views but when he started all his sheepie stuff I went from liking his posts to getting annoyed by them. A lot of negative posters just made me switch off -and react - which I regret - bit like the one who posted yesterday that Chesh responded to.
But it’s easy to say after the event who you should listen to - even now it’s hard when everyone’s faceless and you don’t know who is who. But even after all this should you buy and sell shares by what’s written on here? Plus I don’t think I was wrong about many investors not posting on board remaining positive. If you think about it there were 85,000 shareholders and how many post on board and FB? If you’re not positive about BOD I still don’t understand why you would continue to hold shares. I am still holding now because I want some answers and after all this I want to invest in Sirius - I do know that’s gone now but I’ve decided not to sell until I have to
That's a bit about turn from you Scotman. Interesting. I value your opinion. While very pro the company (and Fraser at times) I've always found your posts to be level headed and even handed (your last being a case in point) Do you think we have a chance of saving the company from the clutches of both AAL and the administrator?
Longtermview24, We can only give views on what we know.
I was always very aware this was CF’s first time as CEO. I highlighted this a few times, but admired his ambition.
I also highlighted that the Fortesque financing that he is often heralded as a major influence in achieving, was in fact in the doorsteps of failure also! It was a personal call by Andrew Forrest to a friend that saved that deal.
Do I think we can save anything? No. I think the final days are being very well orchestrated to prevent even a whiff of a NO vote.
The company need to provide shareholders with a notice period for any GM.
I feel they are stalling this so to run the clock down even further ensuring this deal IS the only deal that can save the company from administration.
LTV
I took the same approach as scotman in that" I'm in and only could be if I trusted the BOD and believed in the fundamentals !!!
I still believe in the Fundamentals
Regards
ffc
Hi Fred, I'm sorry you've lost money on this. We've all been there.
I think there's no simple answer to your question about who to believe and what to believe.
I question motives everyday, but I try to stick by one simple rule; Success in this game isn't about making money, but avoiding loses.
Risks should be measured and half your long term "profit" will come from dividend income.
I'd also like to invest in Sirius, I was "short" a few years ago, I've now been watching it for years with the hope that one day there would be a company throwing out either dividends or interest off it's secured senior debt. Until then. anything but short seemed like a high risk punt.
What you decide it only your business. It might still work out. Truth be told, who really knows, but at this stage you can only work on the most likely outcome.
Scotman
I'm gutted so clutching at straws but
Do you think there is any chance behind the scenes right now some IIs might be showing decent and they are being asked to review the review ????
they were offered funding in December god damn them ??????
Thanks Fred
Scotman
Thanks for your honest assessment. It certainly looks like the BOD are skewing this in favour of AAL and are not being fully transparent regarding other interest. The fact that AAL have promised to preserve their jobs and bonuses has got to be a conflict.
One further question for you. If the ship goes down, do you think there is an actionable claim? (Personally I think there's enough smoke to get a no win no fee outfit interested)
LTV
that (a claim) has been mentioned on the other board but recognizes that it could take circa 10 years to play out ?
I for one will not allow myself to be bitter for that long !
ffc
It wouldn't take 10 years. Might take 5, but we were looking at 5-8 years to see meaningful production and a return on investment, so what's the difference - and there's a chance that there could be a settlement sooner (if there's a smoking gun).
LTV
Not against as such , just wouldn't allow it to eat me up as this is doing to me right now ..
I'm keen for sharesoc to concentrate on the vote right now but would be happy ( obviously) for action to be taken if aal do get the takeover .
Regards
ffc
As an aside I've been invested in a litigation company for the last 4 years and whilst I know nothing ,I believe it could take up to ten years to win or get compensation ??
ffc