The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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3 years ago the share price was 92p before peaking in June, that year, at 153p.
Today the share price is 5p.
Discuss.
Good points motherfarker.
The group also tries to imply 5mil was raised and nothing to show from it, Total non-current assets - £28,828,389.
With very low liabilities in comparison I think it’s pretty clear to see where the money has gone, although it is a constant worry with low working capital I believe it is a testament to the board’s management to getting TGR to where it is on a very limited budget, would it have been possible without the family’s insight and experience in the graphite industry?
Categorically not and I believe even the group couldn’t deny this, so how will the group progress with the suni acquisition as cheaply as the Poddar’s without their involvement?
after months of scaremongering about the company being taken private with such adamance, and that was the key rhetoric being used to create fear and ultimately found to be nonsense, how can those same people be trusted to be doing anything good? it all seems very unsavoury to me, and going by the lies that preceded this legal action, i'd say this group have ulterior motives themselves. the poddars have failed on many fronts (and to be fair succeeded on some fronts too), but it seems to me that all this legal action is going to do is turn a s h i t show into a cluster *******.
Definitely this requisition comes at quite a concerning time for us shareholders and from alarming quarters too. 2 of the proposed directors say they have been in contact with the company for a year+ and the other 2 are previous NEDs brought in to help I assume at the time, especially the finance one Erden, what happened there? Also will we risk a case whereby the two previous NEDs are simply yes men for the other 2 and do we as shareholders trust the sincerity and honesty of the other 2? It would be good to know if these directors already hold significant shares. But it does seems like a big gap in seniority and experience exists between them and the 2 previous NEDs?
My main concern now as a shareholder is that could this action ultimately sink the ship? What makes the proposed directors suitable for this action and to replace the entire board? I could understand if the two junior guys stood down from the board to be honest, even if they are good at what they do day to day and make way for people with a strong board experience who can provide cautious oversight, like with the original structure of the board, with a composition that allows for robust board level decision making.
Of the proposed directors, what experience and knowledge do they have of mining, the company and graphite? Most importantly how long would a transition such as what they envisage require set the company back by, 6 months, a year, longer? Can such a delay/transition be afforded?
If the company was sorting itself out then obviously this action as mentioned by some below already will have probably disrupted everything that was ongoing, yes to the detriment of the company, albeit in the short term perhaps. If operations ie the business are effected where does that leave us?
If the company is indeed in dire straits then perhaps this action is necessitated. Questions should be asked why the company has struggled so long with a working capital gap, and still do as far as we shareholders are aware? What gives the requisition group the confidence they won’t run into similar hurdles? What gives shareholders the confidence we won’t be diluted into oblivion by either group?
It does feel like *something* has to change - but is it chicken and egg? Fingers crossed for all holders. Managing the risk for how to vote on this is tricky to say the least.
Only 3 months to get the accounts signed and none of us have a clue how finances are doing
Third parties, governance and (fraud?) will definitely be top of their agenda now
Fairtrader - shishir will go all out to stop the twitter group as he knows all to well if this meeting goes ahead then we all get to the truth of whats been happening behind closed doors, and thats the last thing he wants. Facts are that the EX NED's know what he's been doing as they witnessed them and are willing to divulge the truth since they themselves are affected since they own shares in the company too. Every shareholder has a right to know whats happening to the company they purchased shares in. We all own a part of TGR. We also have a right to know any and every illegal activity the CEO has committed. If he's innocent which he will shout from the rooftops that he is, then all he has to do is prove it. Its quite simple - listen to the evidence and make your own mind up - innocent or Guilty? Time will tell. One thing is for sure - If shareholders dont use their vote then your allowing shishir to continue the same way he has been doing for the last 3 and a half years and look where we are. Going nowhere--IMMINENTLY!!
If a Meeting is properly requested, Directors have 21 days, from receipt of the request, to respond and a further 28 days in which to call a meeting.
If Directors fail to honour the above conditions within the 21 day timeframe,, A Group can call a meeting, at the company's expense, to be programmed 3 months after the 21 day window.
What is everyone’s short term price prediction and under what scenario?
Tomorrowtoday, if there is a scintilla of truth in your concerns, TGR is registered in London which could mean involvement of the SFA.
21 days from when it was sent I believe, I think that was last Wednesday
What’s the legal position regarding a response in terms of time? (indeed is there one?)
Surely they can’t let this drag on indefinitely?
This twitter group are here to make very few changes. They only want GOVERNANCE. Governance over a single entity who has run this company into the ground. He has destroyed the finance markets as no one will lend to us. Why ? Because they don't TRUST him. And with good reason. He has proved time and time again his word is false. He cannot be trusted. I honestly believe shishir poddar is a compulsive liar. Everything he has promised has not come to fruition. Excuse after excuse. Why should we not have a dedicated group of investors to oversee his actions?? This group ar no different from you and me. They have put their hard earned money into buying TGR shares (just like I have done for my childrens further education) and they are now trying to protect their investment, just like I am trying to do mine. There is only one of 2 ways this will go. Either shishir silences the twitter group and carries on stealing from TGR investors - thats yoy and me - in which case we will be left with nothing - or we vote to have a group of overseeing directors who stop shishirs stealing from us. Not only will they stop him from stealing from us but they bring back TSG (pranagraf) which was the part of the Company that took us to oner £1.56 before shishir pulled the plug and stole it back from us. There us no law that stops TSG intigrating ad combining with TGR. We have checked and checked again. We are ststematically being led us the garden path like a bunch of asses by shishir who is laughing at us all- all the way to HIS bank. DYOR
Saluc -shishirs other businesses make money for shishir and his family.. that does NOT include shareholders of TGR. This twitter group are saying there should be a
watch group overseeing shishir's actions as he is now a law onto himself. His actions have led us to where we are. At least 7 NED'S have come and gone, along with his own brother! What does that say? Dyor
The Freetirupati group have posted the requisition letter on X. Having read through it, same objectives as current management. Yet it seems the new board are convinced that all issues will be solved with the removal of Shishir. It just sounds too good to be true, I can’t see a positive apart from having a more communicative board. Surely the family will dump shares and we will lose customers from Shishir’s other business interests presumably a great deal from Asia.
I think I've missed a lot of chat here.
I know there are questions over the corp governance by the current founders (and perhaps rightly so), but it does seem a little unproductive and naïve perhaps to try and oust them. If there were ever any doubts re TSG, taking TGR private or anything else to spite ordinary shareholders surely those options are being considered by the Poddars now!?
Of course they can it is their money
But also remember there are other great things out there.
This stock is resorting to activism against a ceo who has a large stake. Can you out vote him.
If thats the case Gallmat how come there are more buys than sells ?
You have moved on. Let others make their own mind up. DYOR
Honestly. Move on.
Cash constrained
Market for graphite is under pressure
Management hated from shareholders.
Find a stock with a good story.
Fighting these 3 issues and winning is very hard. Too many people want to get out
Here is the Homepage of the twitter group
https://www.freetirupati.com/
Again DYOR and make up your own mind
A list of Q ans A 's from the twitter group can be found here
https://www.freetirupati.com/questionsandanswers
Everyone who is a genuine shareholder in TGR should check this out and make their own mind up.
Can I suggest all shareholders take a look at what the twitter group are all about and make up your own mind.
The pledge they make can be found here if you copy and paste into your search engine https://www.freetirupati.com/questionsandanswers
Is the Twitter group taking it private with the brother T???
The fact the twitter group have gone this far is testimony to their determination to rectify the situation we are in. I imagine there are some institutional investors in this group who have no doubt conversed with two of Ex Non exec Directors who were dismissed by Shishir. The institutional investors will have gained much info on why the Ex non execs were dismissed and what they witnessed while under Shishir’s management. They wouldn't go this far unless they had solid proof of Shishirs actions Imho. This is a potential double win situation for shareholders. If it doesn’t get through then Shishir has to buck up his ideas and start coming clean as I cannot see this twitter group giving up anytime soon, which means next time Shishir messes up (and as sure as a leopard never changes his spots) Shishir will mess up again, the twitter group will strike again and shishir will be back under more pressure. If it does get through then Shishir is in much deeper water and we get to investigate his actions, one of which I 100% believe he stole TSG from us. Either way we the shareholders will be much better off. I read tonight the directors of the twitter group have made a pledge on twitter to carry out 4 main objectives which I will post later this morning after re-reading them myself. I also suggest anyone who hasn't had a look at the site take a look for themselves and make up their own mind. DYOR
Say for instance they own 5.8% yet they probably owned more and could of sold strategically, along side a twitter campaign for months and in the end a low SP and unhappy shareholders, ready for a takeover…
If people were jumping ship and distancing themselves yes I would be worried, as it happens they are trying to get back in.