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Texustus, 1 vote for each share held.
PI's all, one step at a time. Under the terms of Association the agrieved group have enough support (% of issued shares), to request a GM.
If a GM is allowed ALL shareholders will be invited to attend/vote on the Propositions being put forward.
Unless the Shareholder Term of Association state otherwise, any vote will be based on a simple majority (50%+)
The Shareholder Agreement needs to be viewed to confirm the exact % to pass an extraordinary proposition.
Honestly Saluc, filing a report to the FCA would likely be a waste of your time imo. The FCA are totally useless at doing anything about these sort of things and given they don't stop some really aweful CEOs or companies from some of the pretty much criminal actions they take to con and trick there shareholders aka lifestyle companies, its highly unlikely they would spend any resource on a matter like that.
Its all so often opinion based that its not easy to prove beyond reasonable doubt the intent and thus wouldn't get to court.
Of course, feel free to and who knows, you might catch them on one of there better days, afterall they did one do Tom W many moons ago along with his band of shady actors.
More recently in USA a band of twitter users got done who were using social media to convince holders to buy or sell while they did the opposite. They started in covid using a covid grant and made millions from it. Impressive in many ways but equally wrong.
That is a far more elegent set of reasons tomorrow and you might find that method gets you less kick back than when you go for the more outlandish posts.
Investors aren't stupid and don't need someone convincing them of something. Often they just want open discussions whereby if they disagree they aren't hounded out.
Without going into the debate of the effectiveness of Shishir as CEO, I’d like to question the legality of the campaign against TGR.
“Stock manipulation refers to illegal activities that artificially inflate or deflate the price of a stock. Several techniques, such as insider trading, spreading incorrect or deceptive information”, and it goes on..
I know for a fact there have been several posters on here spreading incorrect or deceptive information. I also know that these people were at the very least aware of the coming requisition letter. I can’t prove their involvement but by some comments I think a few of them already have.
I know that “share profits” or at least Tom W is involved. I refuse to hand over money to read his articles so I’m not fully aware as to what he has been spreading.
Even now they claim that if they get there own way the SP will reach over £1, implying Shishir and his governance are the only things holding this company back.
I’m not sure if it’s worth filing a report or to leave it to TGR as they are already said to be investigating the validity of the requisition letter. Advise welcome
Fairdealer,
I'm not yet sold that the funding is fully about the CEO. The graphite market is in oversupply mode and general microcaps have been in a bear market, which has really reduced funding options for many out there.
I'm sure the CEO bit plays apart of course but think its ignoring how hard the markets are right now. I invest in dozens upon dozens of companies and have for many many years and a big thing Ive learnt over that time is that the wider markets carry so much weight.
Often rises and falls mirror wider market movements over actions of an individual company.
Now as stated, I'm not removing blame fully from the CEO either as the buck always stops at the top, no matter what.
In terms of funding, 1-2 years to obtain isn't out of norm with general markets, thats even for great projects.
The amount here required isn't massive, so that should reduce some difficulties.
I can't see this vote getting anywhere myself, but it might as discussed provide a wake up call to the BOD that they need to improve OR it might make them want to go private to safeguard themselves from such future actions.
I'm hoping its the first.
Why don’t people want this back to £1 - everyone is agreed we will never get there the way the business is currently being run. First step is to remove Puravi and Alastair and make Shishir accountable for his actions, he can’t be allowed to continue as is running the company into the ground
Yes for once you’re telling the truth, not sure why it was down when I clicked on it earlier.
Tomorrowtoday, as self apointed LSE spokesman could you clarify something for me please as I'm a bit confused. On the one hand we have this: 'Please vote in favour of the resolutions proposed at the general meeting of Tirupati Graphite plc to remove the current board and appoint new directors.'
But we also have this: 'If the resolutions are passed, who will run TG at executive level?
We are not suggesting that the executive team is removed but we are suggesting that a new board is appointed to oversee the executive team. '
So is Shishir removed if the resolution passes or are the four new NEDs simply appointed alongside? If the latter we're basically back to where we were before Isabel resigned but with two extra NEDs on top.
If I have 1.5M shares how many votes will I get?
TG’s current board will continue to run the business.
QUESTION- How do I vote?
ANSWER- As soon as we get the information, we’ll add it here.
That is the reply from the twitter board.
Question- If the resolutions are passed, who will run TG at executive level?
We are not suggesting that the executive team is removed but we are suggesting that a new board is appointed to oversee the executive team.
QUESTION-How many votes are needed to make the changes you’re suggesting?
50% or more of the votes cast are required to pass the proposed resolutions.
BELOW IS THE FIRST QUESTION AND ANSWER BY THE TWITTER GROUP
Why do you think the current board is unfit to run Tirupati?
We are concerned about the centralising power within the Poddar family and their circle.
• Mr. Poddar holds the dual role of Managing Director and Chairman.
• Mr. Poddar’s daughter, Puruvi Poddar, aged 27, is joint Managing Director.
• Alastair Bath, a 28-year-old associate employee, and staunch supporter of Mr. Poddar, is an executive director.
• There are no independent non-executive directors.
We believe that there has been minimal oversight over the operations.
• Mr. Poddar’s engagement with TG’s primary operations in Madagascar was limited to only two visits: the first occurring before the IPO in 2019, and the second in February 2024—five years later.
TG continues to face constant cash flow crisis affecting its staff, suppliers, and reputation.
• Despite GBP5 million being raised in 2021 to integrate the downstream business operations—also owned by the Poddar family—there been no progress on this front.
• There are significant signs that the company no longer has access to the London debt and capital markets.
SALUC I HAVE JUST BEEN ON THE TWITTER PAGE AND IF YOU RETRY THE LINK IT OPENS UP SO NO IT HASNT BEEN TAKEN DOWN.
Fairdealer there was a website “Freetirupati.com”. It looks as if the group has run into trouble already as it’s been pulled down.
It had details of their proposed board and future plans, seemed similar to Shishir’s tbh.
Firstly I hold my hands up and acknowledge that my comment about the share price going to 1 pound should the meeting meet its objectives was somewhat overzealous of me. In hindsight I should have written the share price imho will be multiples of what it currently sits at. I say this as this is what I believe. 1. The money markets are not interested in lending to Shishir due to his track record. 2. Almost all shareholders are unhappy at the way the company is being run. 3. TSG has been stolen from us right under our own eyes. 4. All Promises of graphite output numbers has never come to fruition. 5. Promises of VAT return are NOT imminent. Management consists of 3 people, father and daughter and one sole guy not long out of college. 6. The company has now become a law onto themselves. Aside from the action being taken by the Twitter group which I have looked at and will copy and post what is being proposed when I have time, I am involved with a separate group of TGR investors who are actively taking the Poddars to court over their actions since TGR's inception. My motives are simple. I am a shareholder and my holding is down by a large amount. I do blame the actions of management for not all but a large part of his. I agree that almose every graphite company is down presently but TGR has been dragged down much further than any other share due imho to the actions of Shishir and his daughter. As a shareholder I have every right to voice my opinions to management which I have done, only to be met with either ignorance or unbelievable excuses. Info on the court case will be shared when available. DYOR
Zan,
I am old enough and experienced to know a Rat, when I see or read them. These boards are infested with characters who have Agendas. The trick is recognising them. Likewise there are Company Directors who are less than honest ( they will only say what makes the reader happy). Again the trick is analysing known and sometimes obscure data to form an opinion. Sometimes it can be "gut-feeling" which tends to only come with experience.
Back to Posters, there are a few here whose background and agenda requires scrutiny. One amongst some appears to only post on this board and is a relatively new Poster who raises my suspicions.
In the end genuine Shareholders ( I discard Traders who have a completely different strategy to LTH's), sift the chaff from the grain and act.
You have stated concerns regarding the management of the Company. Is it going to change given the way events have evolved?
I repeat, Funders are nervious, which can only reflect on the CEO. Is the company to limp along or become more dynamic? I do'nt see it happening under the current Management Team. I do not see the possible GM changing much, because again, as stated, the Poddar Family have virtual overall control. Things could change if Shishir were to allow his ego to sleep and make way for fresh thinking which Banks would support.
Hi Fairdealer,
Well reasoned and not without many good points may I add, so thank you.
My main point here though is that a poster who is telling others that if the vote works, the SP will go over £1 very quickly is attaching themselves to the group and thus the group appears untrustworthy to me.
That same poster has been running a campaign against TGR for some time, often making multiple posts using same title to push down any other posts and manipulate views. Again, that doesn't sound or appear like someone I would trust.
Thats more infamatory to me than using the word coup, which in effect it is i.e., removing one leadership and replacing with another.
As it stands, that poster has ensured I wouldn't add my shares to any vote (although one may not even happen).
Everything else is not of interest to me tbh. We all know the failings here, but I dont believe this vote has anything to do with that.
Zan
All we, Ordinary PI's, know so far without sight of FULL details of the requistioning letter, is Walpole St Andrew Nominees on behalf of a group of investors, is a GM is requested on the basis to remove and replace named Directors. The full text of the letter will tell us all a lot more about the overall reasoning as will the detailed Proposition to be published should the GM go ahead.
Clearly the Group are seriously concerned as to how the company is being managed.Maybe those who post here and are part of the Group can declare their participation?
The use of emotive terms like coup is inflamatory as under Corporate Law Shareholders can act in concert given the required Shareholding, in requesting a GM. A GM cannot be called for some fatuous reason but have substantive grounds to put Resolution(s) before the Total Members.
I, for one, am unhappy at the style of management and level of competence that exists. My initial reaction is to support the group, but await full and further details of the GM and it's proposition(s). I am not part of the group at this point.
The Company cannot continue to be Managed in the amaturish manner being experienced.
It would seem potential Funders are nervious, which reflects heavily on the CEO and Board. If Shishir, with his Family's large shareholding, wishes to protect and enhance value, he should at least consider stepping aside. There are Consultancy roles he could undertake.
As stated earlier it is complete nonsense to bandy around 2000% increase in short order. It MAY happen eventually, but not under the current Management style.
Any serious long term investor wants to see a well run company that grows and generates disposable profits. The current incumbents, given their record do not engender confidence within the Funding Community. That alone tells experienced Investors, something must change.
A change of Management could not be worse than the present Directors.
I say this again as some still think this is a coup to get rid of management...No one wants rid of Shishir. What investors want (myself included) is for the company to be run for all the shareholders and not just the poddar family. Anyone on here who disagrees is either a poddar parrot (yes I mean you saluc) or they are not invested. Forget the noise and ask yourself if the poddars have done a good job in running the company. If you answer yes then vote for them. If the answer is no then vote NOT for their removal but for the poddars to be held to account by TGR investors who have all shareholders interests at the forefront of every course of action they take. Shishir duped us all when he turned TSG into Parnagraf. This investigation will get to the truth and we will have our downstream TSG back. Shishir doesn't want that to happen as his family profits (which are the profits of all shareholders stolen by the poddars) will suffer. We all know this yet people on here will vote for shishir...why is that? There are a few on gere who are paid to trash anyones opinion that goes against their boss. Dyor
Zan_TM couldn’t have said it better myself. Remember tomorrowtoday knew this was coming, he told us enough times. So he’s obviously involved to a certain degree.
Luckily I believe he has exposed himself enough times in this forum that his words don’t hold much weight. If Shishir or the board behaved in the way that this group has I’m sure they would be facing legal action, I do hope others cop on and will support the exposure of this coup.
I’m not looking forward to Monday but I was relieved to see no big sells off the back of the news of the coup, wouldn’t surprise me if the sells did actually come from the group to try and gain momentum.
Fairdealer,
I do think they, like all have to be held to account when required. Its not that Im a big fan of theirs as such at all or that I think they haven't been poor in some areas.
My issue here is two part.
1: I don't believe the coup will help the share price short to medium term at least
2: Investors who support the coup/seem to be involved in it are making topics with very misleading headlines such as this topics. That removes all trust in the process for me. How can I trust they are any better than what we have when they are happy to try to manipulate/trick you into something as 2000% rise to £1 very quickly isn't factual
Infact if the Poddars had made a statement like that everyone would call them out for it. Whys it okay for the coup group too?
Why did you invest then? TGR is and has always been Shishir’s. Ridiculous accusations, stevemc could be one of Tomorrowyesterday’s accounts.
Saluc, you’re one to talk. I wouldn’t be very surprised if this is Shishir himself, trying to use a fake name to ramp up his position. You’re naive to believe a word from Shishir if you really do. You’re either Shishir himself or one of his yes men or yes daughter.
A few accounts on here were created for one reason. To destroy shareholder confidence and to divide shareholders and the board.
1st example Stevemc -take a look and see.
2nd example Tomorrowyesterday - this is a quote from a post that he was “invested” in before TGR. “ I strongly urge anyone who's is shareholder to email the company and not just ask...but demand to know whats going on and why the silence. This share will now be pulled down to 30 something (or worse)... management know whats going on but they are keeping quiet. They are doing nothing to halt the drop...whats even worse is they are actually encouraging it by keeping the silence...” sounds very similar to the scaremongering on this forum.
Another from Tomorrowyesterday- “Still very cheap at 48.6p a share. Managed to get 30000 of these as a top up earlier today as its way over sold on 'fear following fear'.” This quote was about the same company as above POLX. SP today is - 3.75p
Do not trust these people, they have their own agendas.
Puruvi installed to improve comms and what do they do? Drop that RNS on a Friday afternoon!