Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
He’s talking about the new group whatkid?
You are correct.
Even now poor corporate governance ooozes out of TGR as they don’t seem to know how to behave to a requisition. They don’t need to write pages of waffle they just need to provide a date for a EGM.
When will the FCA step in and revoke their LSE listing. Makes a mockery of the code.
Wooooww whatttt
Thanks for posting, this is crazyyyyy but seems to make a lot of sense! Might email my local newspaper about it, these guys are up to no good!
These should have happened imminently a year ago - ship has sailed
How do they not have a decent CFO already ?
True colours shown
The whole thing is a con job - Shishir needs to be reported to FCA also immediately
To finish…
….TGR’s solicitors. Let’s see where this goes!
Ladies and gentlemen, today I have uncovered something really quite sinister about the requisition group and the proposed directors.
I thought I recognised the name Ninja-Pe. A quick check on Twitter reminded me of a poster with the same name. The handle of that account? @lwkoot. I brought this to the attention of a friend who showed me a screenshot. Funnily enough this revealed the previous profile picture to in fact be of Mr Leo Koot, one of the proposed directors of the requisition group. A reasonable conclusion to arrive at therefore is that Ninja-Pe is Leo Koot.
A further quick search shows Ninja-PE (LK) to be 1 of the first followers of the Free Tirupati Twitter group, and one of its most adamant retweeters and commentators, essentially communicating with themselves to amplify misinformation and a perception that their sentiment is/was more widely felt. This has been the case for nearly a year!
Alongside this other early followers of the FTG group include Alpina “@alpinacapital” - that’s the investment vehicle Mr Mark Rollins is a director of.
Leo Koot, now very apparently on here as “Ninja-PE” has commented multiple times on the LSE bulletin board of the Company, Beacon Energy, upon which Board he is a Director alongside his good mate Mr Rollins! The evidence stacks up.
The same goes for the poster on here called “Gaisan”. A quick review of the poster’s history shows similar posts on Beacon Energy’s LSE bulletin board. Perhaps “Gaisan” is Mr Rollins?
Beacon Energy’s broker is Optiva Securities. The same broker of TGR. Does Optiva have a role to play here?
What would the FCA make of reports that PLC directors have been using questionable ethical, professional and legal tactics and possible misinformation to suit their ends, possibly in league with another company’s own broker?
After all there has been chatter on Telegram and on here that Optiva has a role to play. In fact the FTG Twitter has previously even retweeted a Vox Markets tweet about Roquefort Therapeutics (Mr Rollins also a previous NED there, shock), which guess what? Yep, a company Optiva is also the broker of. All this stuff in the pledges of the group about access to capital etc smells very off to me, especially seeing these peoples’ track records. Their own interests are made very apparent by the demands of the requisition letter which of course they happily shared online themselves, and seemingly leaked to Share Prophets before the requisition was officially announced - that’s the sort of people TGR shareholders are now faced with dealing with. So yes I wonder indeed what would be made of all this?
Either way we will find out after the email that I am sending tomorrow to the FCA, London Stock Exchange, FT, CityAm, and others to ask for a review into the relationship between these actors and the other proposed directors, and to ask for an investigation into potential market abuse. I will also cc it to TGR, and TGR’s
Survival is much more pressing than governance right now
The £189k cash looks very worrying especially considering loans payable in next few months + production only running intermittently I.e. when some cash comes in, but I would say the shares purchased by Alistair 20th March must have been done with some confidence that there’s some light at the end of the tunnel in respects to the cash constraint
Faint hope, but something I’m clinging onto
So its going private by the backdoor?
There's no two ways around it they are in a pickle now, a right bind.
It's clear in the way they put the table of current assets vs current liabilities front and centre of those results that this is a major risk now. On paper it looks fine - £7.1m vs £3.8m - but as with most things TGR the reality is a lot worse.
TGR are totally dependent on receiving £2m from the Madagascan government which we now hear is due to 'national budget constraints'. It's a pretty worrying thing to be relying on a tax rebate from one of the ten poorest countries by GDP in the entire world... and then you have tax rebate also owed by Mozambique, also in the top 10 poorest countries in the world.
Cash burn has sky rocketed with at least £810k cash burn between mid Jan placing and March 31st and now we know they have £1.13m due to mature within twelve months.
TGR need to find significant cash just to continue operating, cash to employ a credible CFO and cash to cover the debt maturing otherwise they are relying on the Madagascan and Mozambique government to stay out of administration. All that against a £5.5m market cap.
Looking ominous
"Tirupati Graphite boss to split roles | LSE:TGR, OTCQX:TGRHF" https://www.proactiveinvestors.co.uk/companies/news/1047263/tirupati-graphite-boss-to-split-roles-1047263.html
Im sure he has a few associates with a few quid to invest...
All part of Shishir plan to hand over the business to his cronies
Same conclusion tbh Torreaguas. A reasonable compromise seems the best way to secure the interests of the company and all parties here and the market would probably be extremely welcoming of one.
As a long-term shareholder, I genuinely hope that the FT team stands firm and pushes for the EGM or convinces SP to accept the resolutions and onboard the independent NEDs. The proposed directors appear to bring a wealth of experience that could finally see the company successful
If this is true it is great news. The sp will recover and a shareholder approved Ned will be put in place. Much better than a continued stand off.
I'm pretty sure this is not the case. FreeTirupati will not give up unless there is good corporate governance in place that will allow them to fulfil the pledges on the website. I also not a lot of inaccuracies and misleading info in the last RNS - even announce-able events that were not announced in accordance with the market abuse rules, such as the change in auditor. But not surprising as only one person writes the RNS and approves them with very little input from others....I recommend strong support for FreeTirupati as the alternative is more disaster until auditors force suspension in June or July. Time is running short
I have just had a zoom meeting with some fellow TGR shareholders who have informed me that Shishir has had a video call with the FT group and they have come to some kind of an agreement. I don’t know all the ins and outs yet but from what I’ve just been told, and its now 1.18am, Shishir has convinced the FT group not to go ahead with the forced meeting and in return he has agreed to certain conditions. Some of these conditions I’m told include new Independent NED’s not picked by him this time, and also his daughter stepping down too. Interesting he said in the RNS earlier that he was stepping aside in one role though he would remain CEO. This meeting may have taken place a few days ago. I cant at this stage say 100% how accurate the information is though if this is the case then Shishir has slithered away and he won’t have to face us. Instead he will continue on his merry way doing what he does best. HE WILL CONTINUE TO SUCCESSFULLY FAIL. IMho Shareholders need to demand this meeting where he attends in person,. Surely he must be made to answer shareholders questions and the vote must go ahead. Every shareholder deserves to be heard. Thoughts?
Ilovesushi what did tomorrowtoday say that got you worked up talking about legal action btw? He/she is certainly very vocal but what crossed your line? Drama continues on this board!
Shishir con artist
Har Chris your comments are more to the point than most here. You have been a vigilant commentor and onlooker on this board. I can see why you sold today after reading the rns. Sad day. I've learned some things from your posts that are both informative and insightful. We have all been played the poddars. We are refusing to sell as we 100% believe we will see him in court and he will be tried and convicted and then stripped of his assets and we get our stake back. I dont balme anyone for selling up at this late point as the share price is going lower, MUCH LOWER IMHO. Dyor