The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Rats being smelt
The move to hire a non-exec chair is noteworthy to ensure the company can get new guidance
Let’s for a second compare who’s on the other side
Raised $27M, wrote is off, pocketed cash, left shareholders to suffer
You want that here? I dont!
So you agree there is absolutely no evidence supporting this. Just human nature speculating?
Saluc you agree Panagraph is a Private company. You state the accounts are audited. How do you know? Have you seen those accounts? If so please advise where we can view.
It is simple if an individual has a foot in 2 company's who trade with one another and 1 company has Public Shareholders whereas the other is not accountable to shareholders, Human nature being what it is, leads the Indivual to ensure the Private Company has better deals with the PLC.
Same here. Voted against all the resolutions but did it before the presentation lol. Actually quite surprised how composed TGR’s guys were if a bit robotic at times, not surprising given the pressure that must be pounding. Made me lol when I saw the interviews where the new group’s people are praising the company’s achievements in the presentation video, that says quite a lot for me about all this that’s happening and explains some of the murky tactics, the new group wants control via this takeover veryyyy much imo
Nice to see the tick up long may it continue
Btw, good news still on track for 8pct of global market
Is he nuts, i mean you cannot get 2m USD and you are telling people about expansion.
This is the real reason. Can you imagine an institutional firm meeting him and listenign to this crap. You invest in people.
He needs to accept he is part of the problem. He acts like all issues come from nowhere and he is the good fighter.
Yup , you do fight for us - but you create the issues, so realise you need advice and help.
Questions. Why buy a frigging mining fleet. On now we raise financing against it. Don't do it in first place!
Created the financial models himself and got it wrong
Just watched the presentation.
1. New guy is like a young robot
2. No mention that they mislead investors laughing at the concept of equity raise being needed.
3. Complete lack of explaining all these red flags until the shareholder letter hit
Basically a scared board now opening up, because they were called out. Not trustworthy.
The ceo makes it out that the cash constraint was just a thing. Seriously if you are spending 20m gbp think about having a reserve.
Ceo let slip the only issue was needing a prospectus to go over 20pct of capital. He did not anticipate it and could not face it. Any sensible ceo would have started to do this and bite the bullet when you see capital issue coming.
Sashir sounds like a story teller, fighting heroically for shareholders. Nope you did not manage cashflow, you did not raise the capital with a prospectus when you could. You repeatidly did not honestly communicate working capital constraints while saying you are going to be 8pct of world capaicty.
Nobody, nobody will take them seriously for a big investment.
Am I missing something? It can’t just be tomorrowtoday’s word (and his other accounts) making this into a story.
Panagraph isn’t a public company. All results are audited, every year. I don’t know the board of all our other customers either. I can’t understand this obsession with Panagraph, the relationship is clearly more beneficial to TGR.
Watched the webcast and for me although some things have been managed incorrectly, mainly not raising and then raising down into the pennies. There is alot of things outside the companies control which a change in BOD will not in my eyes help, quite contrary will probably make it harder. I also have no idea what the new BOD's intentions are and know nothing about them and what they propose for the company. Grass is always greener, until it isnt.
So his master plan is to screw us all
SHISHIR PODDAR is currently the director of (to name but a few) 1.TREADSPIN RETREADERS PRIVATE LIMITED, 2.PRANAGRAF ADVANCED MATERIALS PRIVATE LIMITED, 3. TIRUPATI CARBONS & CHEMICALS PRIVATE LIMITED 4. SAFEARTH CLEAN TECHNOLOGIES PRIVATE LIMITED. 5. Haritmay Ventures. He has other companies, around 10 from what we know. Guess which of his company if the ONLY one failing? Thats right OUR COMANY TGR. He uses TGR to supply the majority of his other companies with our graphite. Pranagraf was touted as being part of TGR in order to get shareholders to invest, then he snatched it from us. Do you want this guy continuing? Dyor
Agree Saluc on the whole
FAirdealer20, Shishir and his family own Pranagraf. They spend 90% of their time working on Pranagraf. TGR is simply their supplier of graphite on the cheap. dyor
I get the feeling there are a few on here that feel sympathetic to the poddars plight. Be assured if they get back in they will continue the same way they have been. that means more money for Parangraf, more lies fron shishir and nothing for TGR shareholders.. They have hasd over 3 years and look at the share price. The new NED's will make no difference. the last 9 NED's were all sacked or left because shishir is a mini hitler. Are the 9 of then wrong? does a leopard change its spots? DYOR
Shareholders know Shishir's position within TGR, do we know his exact role within Panagraph??
I think it was reported that the Madagascar are also cash strapped, as he said in the QnA they were receiving tax refunds regularly until around 16 months ago I believe. That’s why it’s so frustrating, completely out of management’s hands yet they get the blame for it.
The Hard Question everyone has to to ask when casting their Votes, is why so many Directors left and not replaced and why has the Madagascan Government has witheld the VAT refund for well over 12-18 months now ? The Poddars kept saying it was due anytime now ?
We are seeing what the market thought of the presentation….. zilch but hey could have gone back down so grateful for small mercies
I’ve just watched the presentation again and what comes across to me aside from the obvious passion is the recognition from Shishir regarding the absolute necessity of appointing independent NED’s and a London based CFO. Particularly striking for me was when he said he’d designed the financial models for DFI’s and that “As a Chairman of the company I really shouldn’t be doing that!” My own opinion is that they know they are fighting for their lives here..AND I believe that if they win the vote then greater delegation and independent oversight will happen. It’s not guaranteed for sure but when I look at what they have achieved with such limited resources, then I’m truly of the opinion that getting solidly behind the BOD by voting against the resolutions will ultimately bring value and drive success for all shareholders.
Sensible comments Chris. I don't disagree. It is a mess and Shishir must take responsibility for getting the company into this state. But I guess we are where we are. I certainly couldn't fault any shreholders who feels that the time is right for change but the question is what is the best way to effect that and is it already too late. We could really do with the VAT repayments coming through smartish.
I remain a shareholder who quite frankly have heard this reassurance many times before whilst I see the share price fall to 5p. The market remains doubtful and I just draw your attention to Shishir's reassurance about an impending return of a VAT refund. I won't repeat what Harchris has eloquently said, I agree with him and repeat that to operate TGR without a competent CFO for so long is unforgivable and is Shishir's responsibility. He cannot hide anymore.
HARCHRIS IS RIGHT - Passion is one thing but progress is something else which shishir has not been able to get near. His all talking all promising chit chat is relentless to the point he bluffs even himself with his predictions. None of them have ever come to fruition. The same questions that were asked after he robbed us of TSG for himself over 18 months age were asked again yesterday, WHAT HAPPENED TO THE £6 MILLION IPO CASH? He keeps going round in circles because the answers he gave in the past were not accepted so he reinvents new answers. problem is no one believes the new excuses.. Then theres the TSG/Pranagraf situation where he is pretending the NED's are to blame for the lack of negotiations over the integration. He is the owner of TSG so how can there be any lack of communication? This is why he is not believed by anyone anymore. His corrupt nature has killed this company. TIME TO GO. Dyor
Isn’t it a matter of any of those funding options coming through? Categorically VAT refunds? Or is there more to it?