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Fair enough and you are correct that everything should be done above board. Yet I haven’t heard or seen any genuine evidence that wrong doing has been done.
Listening to the likes of Tomorrowyesterday and shareprofits who are spreading this information is dumbfounded, look into the benefits of the related parties and you would understand TGR would not be in the advanced position it is without them. Yet you’re being led to believe the company will be better off without them, if I wasn’t invested I would find it laughable.
Fairdealer, your points are totally valid though saluc is a poddar parrot so he will defend shishirs actions of deceipt to the hilt. Regardless of the poddars stealing our graphite saluc is an obedient servant to shishir. I honestly question if he actually holds any shares. In any case the 200,000 sell earlier this morning is going to happen time and time again as investors become exhausted by the amount of back door deals the poddars have been an are still doing. The meeting should have been called this week or next as the share price is going south for the next month. Again poddar knows this yet he has put the meeting as far as possible into the future as he is legallt allowed. Why not have it ASAP instead of everyone watching the share price drop day after day as sellers run for the door. He wants a 2p share price so he can make a family grab for the company. This was highlighted before x.mas yet no one believed it. Now that it's actually becoming a reality there are still a few who are refusing to accept the reality of the situation. We are being played by the poddars and they will take tgr private for nothing. Watch and see. We have messaged both poddars and politely requested an earlier meeting and have been ignored. Dyor
Saluc maybe you are a gambler, many of us are not and accepted "never invest more than one is prepared to lose".
If as you continually repeat, all in the garden is rosy, why are the many issues surrounding the Management and performance of TGR has led to the virtual demolition of the share price?
If a company any company has trading connections with a Customer Company which is Private, and has Corporate Owners that are analogous to each other, it is only right and proper Shareholders in the Public company have complete knowledge of the "doings" between the 2.
Do you accept this as a Principle of sound Commercial Practice??
Record sales revenue and production without spending any time on TGR, impressive. Also they want downstream Pranagraf for them selves? It’s already theirs, the proposal was blocked. You already know all this though you are just stirring the pot. Honestly a few people on here are starting to sound like bad gamblers not investors.
A complete disclosure of Commercial Agreements, Corporate Structure of Panagraf is essential, as is a Full detailed disclosure of Financial Transactions between Panagraf and TGR. Crucial to see Income and Cost accounts along with Annual Profit and Loss Accounts, Panagraf report. If as a Private Company, disclosure is stone-walled, the TG group should instigate appropriate proceedings against the Directors of Panagraf.
If, as alleged, Shishir has been up to No Good, he is going to react like a cornered Rat, not pleasant.
Unless Shishir comes Totaly clean, this is going to get terribly messy, leaving Pi's with little and nothing or a Jewal!!!
Needs to be opening slide during EGM
Aasin that appears to be the case but we have absolutely no idea what intermittent means. Is it essentially a halting of production with only essential maintenance continuing or is it low levels of production like we saw in H2.
A distinction should have been made but like with all things TGR the worst case is usually the actual case.
Aasin, It is well known that shishir and puruvi spend virtually all their time on Pranagraf. They have what they always wanted, the downstream to themselves. Tgr is only there as a building site where they dig the graphite up and send it to them elves. They have not been honest with the tonnage for over 2 years. Why do you think they have said "In light of the limited working capital availability, the Company's operations remain impacted. Operations are currently being run intermittently, resulting in lower production and sales, as depicted in the result for the year ended 31 March 2024" Dyor
Definitely gives them more voting power.
However, also puts them at more risk to earn their remuneration. It's doubtful that they would convert cash into shares if they don't believe they can multiply their investment.
"In light of the limited working capital availability, the Company's operations remain impacted. Operations are currently being run intermittently, resulting in lower production and sales, as depicted in the result for the year ended 31 March 2024"
This seems to be the last information around ops on ground that I could find in the RNS.
HarChris shishir was well aware the FT group were planning a meeting as they had contacted him numerous times regarding their concerns. After shishir rejected the groups requests for change they went further and stated they would call this meeting. and thats when shishir came up with the RNS you have posted below. He knew the meeting was coming and so set up these extra shares with a loose date so he could add then to his family's tally when required hence a loose date was given with no exaxct date as he was waiting to see if the FT group would go ahead with the meeting. I agree the company is in a total mess and the share price will drop to 2p or lower before the meeting. That's a given in my view. And thats why Murat has not taken up his shares. Dyor
I'm guessing you and Murat are good friends which is why you know his plans and inner feelings on his stock trades?
So I'm correct in saying that your highlighting that the proposed FT group member to go back onto the TGR board doesn't want TGR doing well right now as it doesn't suit his own interest?
That doesn't sound like a great sales pitch for why we should want them involved again.
"Please vote for me as while I want the SP to tank and you all to lose more value, I'm just here to help.....honest".
"In addition to the Placing, the Company has accepted a subscription from certain directors and members of the senior management team listed below (the 'Subscription') for 5,663,635 ordinary shares of £0.025 each in the capital of the Company (the 'Subscription Shares') at the Placing Price to be satisfied by set off against certain amounts owing by the Company to the persons listed below in respect of past fees or remuneration in respect of their office with or engagement by the Company.
To avoid the Company incurring additional costs in respect of regulatory requirements under the U.K. Prospectus Regulation regime, the issue and admission of the Subscription Shares will be deferred until such date as the Company has sufficient headroom to admit the Subscription Shares without having to issue a prospectus. It is expected that admission of the Subscription Shares to the Standard Segment of the Official List of the FCA and to trading on the Main Market of the London Stock Exchange will be on or around 24 April 2024 (although this would be further deferred if necessary to ensure that any issuance is not affected during any closed period)."
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The transaction completed slightly later than initially planned but it was always completing months after the placing... there are many reasons why TGR is in a total mess and there's a lot to be conspiratorial about but this isn't one of them.
HC agree. My point was why has it taken 4 months to complete the transaction? Is it con-incidence that the shares are now taken up when a GM has been confirmed?
Murat the sacked NED was due to pay 50 grand for his allotted shares in tgr but refused to pay. Why? Simply because he knows he can purchase the the shares on the open market for 66% cheaper. Not only that but he is waiting for the price to drop below 2.5p before be picks them up at over 80% cheaper. Makes total sense to me. Many now have and are still selling with the possibility to buy back in lower as this share is headed for 2p before the meeting. We said it months ago. Dyor
No one asking where a 28 year old barely had a few years of work gets that kind of money - he is one of poddars stooges
HarChris - “I'm still a bit puzzled as to why Alastair bought 400k” well the VAT refund was expected to be received imminently, highest production in a year and sales revenue increased 70% to £4.9Mil. In hindsight it’s odd with no money in the bank but not at the time.
Amazed the social conditioning has begun for what happens if the resolutions pass with this posters comment. This will be London’s next oil and gas pump and dump in no time if shareholders don’t vote against this group and you will lose all your investments. Sweet music but bitter intentions, beware!
They were all given shares in the placing in Jan but only the three current directors have to TR1 their new positions. These are the new shares issued in full:1
Mr Shishir Kumar Poddar, 2,727,273, £300,000.00
Ms Isabel de Salis, 109,091, £12,000.00
Mr Hemant Kumar Poddar, 454,545, £50,000.00
Mr Uday Pratap Singh, 200,000, £22,000.00
Ms Puruvi Poddar, 1,363,636, £150,000.00
Mr Christian St John Dennis, 300,000, £33,000.00
Mr Alastair Bath, 54,545, £6,000.00
They can't pay wages because there isn't the money in the business to pay them with.
So taking shares in lu of wages does not give the Directors greater voting power? Come on
I'm still a bit puzzled as to why Alastair bought 400k shares in March. I remember it well at the time and led me to think some progress was finally being made on the ground but we recently learnt it was the polar opposite - production had ground to a halt at that stage and cash was probably down to just £200k yet Alastair bought plenty of shares depsite having inside knowledge of just how much of a production miss they were going to report in two months time?! Odd.
Also looking at the cash burn through mid Jan into late March they must surely be totally out of cash now? Has communication and lack of transparency got so bad that operations are now essentially halted without any informing of the market?!
Surely someone will call time on TGR
The poddars most certainly are bolstering votes as shishir knew this was coming since the FT group have said they approached the company many times and were ignored hence the reason for having this meeting. That's why shishir and the other two poddars took shares and not cash. Interestingly the NED Murat who was sacked and is now part of the FT group was to get £50000 worth of shares at 11p yet he didn't pay for them. What does that tell you? That's nearly half a million shares murat has declined. Why did he not take them? The simple answer is he knows he can buy then for 4p just now and by the time the vote comes he can purchase over 2 million for the same price. It stands to reason. Why buy shares at 11p that you can buy for a quarter of the price on the open market? Again I say the poddars knew this was coming. Murats decision not yo take the shares at 11p tells you where the share price is going. Dyor
These are the subscription shares as announced in January, long before the requisition letter.
They are not 'bolstering votes'.
Existing Board members bolstering votes for the GM.
It is rapidly becoming a farce of Biblical proportions