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Zan do you consider the Poddar Family are in an Ivory Tower and not accountable to anyone?
The Group taking action are clearly incensed and want changes. As stated earlier, doubtful they will succeed given the Shareholding Power the Poddar family hold.
As a VC have seen Board members removed for lesser incompetence.
If Shishir has any sense, he would step aside allowing Execs who command respect in the Banking community. That in itself would inflate the SP, not by 2000% as suggested, that is pure nonsense
As a note, its not that I wouldn't ever vote in favour if I felt it was needed, but posts stating £1 once done put you off taking it seriously as its pure rampy spin with zero logic too. The idea that removing the board and replacing them is going to give you an instant 2000% SP jump is nothing short of fantasy land and boarderline criminal attempts to manipulate.
If a genuine, not rampy, not state a stupid figure to trick case was made it might get more weight.
As it stands, tomorrows posts have confirmed that voting against the changes (if it ever gets to a vote), is the right move.
Fairdealer, Chinas export ban appears very smart as its reduced the number of purchasers of natural graphite and increased the number buying synthetic, which isnt banned I believe and which, suprise suprise, China sells.
In effect the ban created oversupply of graphite and helps keep prices low, forcing out many non chinese producers from the market.
Not the same, but they used clear stuff with Steel too previously to in effect corner that market by making it uncommercial for western companies.
Poddars have failed in many areas, but the price of a product in oversupply, isn't related to them.
Threw the kids under the bus - harsh lessons learnt
Saluc, whilst I'm not taking sides I am reliably informed that even Hemant resigned for similar reasons. the joint founder of TGR and a Poddar himself. I've rarely been negative on here and have tried my hardest to support the company throughout the last year but it does get to the point where I have to start to accept that those on the inside are able to judge the situation better than I can.
Look at how Shishir tried to play down Murat's resignation, claiming it was for personal reasons and yet here he is as part of the group. The same is true of Hemant. At the very least it seems pretty evident that Shishir is rather difficult to work with and it is starting to seem like the debt markets are closed off to TGR whilst he's in charge.
Do you realistically think the golden trio of Shishir, his daughter and Alastair Beth are going to drive hundreds of millions of pounds of value back into the company? I'm sure Alastair's a decent guy and may be capable but I don't think I've ever seen someone with sucha lightweight CV be promoted so rapidly to an executive team of a FTSE listed company. Needs must perhaps but I wanted to see proactivity on this front and yet nearly two months have passed without any governance update.
Shishir needs to prove otherwise to the claims above... he needs to prove that there are credible NEDs willing to join with him at the helm, that he's able to attract further investment etc otherwise the company is going nowhere without action.
Firstly I don’t think this will garner the support it needs to succeed. Have a quick read of this board and shareholders are deeply divided
What is true is that things have become a shambles, unrealised targets, terrible communications and a Board that raises many questions
So my hope is this will be a serious warning shot that simply can’t be brushed under the carpet and we get some serious action regarding the management and function of the company
Shishir and his band of naive kids being out of the board is going to be the only way to restore the company. I am sure that there are other competent management teams to take over the management in case Shishir's fragile ego doesnt allow him to be a part of the company after he is removed from the board (which I believe is in the best long term interest of the company, even if he ends up selling all his shares). Management and skills can be solved, ethics cannot. I am sure that when it is time for a vote, none of the large holders would want to see him stay.
Tell me, does anyone remember the last time Shishir Poddar said the truth? Does anyone here still take his words to mean anything? I for one believe he is a pathological liar, a delusional fool and / or an absolute conman.
Every sensible adult who has ever worked with him (including his own brother btw), has left the company. Their tenures becoming shorter with every new member. Find me another listed company, anywhere in the world where two thirds of the board is under 30. Find be another company, where people straight out of college, with no real world experience are put into board positions.
Also, sharing the raw data with the new potential board. I am sure they will find it helpful when they are trying to see Shishir's fraud. Once again, this is what he has done - sold graphite to himself at a much cheaper price than the market, bought equipment from his own company (that was formed mearly to steal from TG), blocked an agreed acquisition, quashed every adult who pointed at his gross misdealings and outright misled and lied to shareholders.
I do not think tomorrowtoday is a part of this group, neither am I. I think he is just happy to jump on the bandwagon.
Saluc. have you got that pay raise from shishir yet? You seem to be doing overtime imagining all sorts of dreamy things. A conspiracy to remove Shishir? This is a shareholder vote to put the company back on the right path. This is an attempt to rectify the mess Shishir has put us in. No one can say he has done a good job. No one can say he knows how to run this company. He has had over 3 years and look at the share price!!! It speaks for itself. If he actually came through on even half of his promises them we would be over 80p now yet 94% of his predictions came to nothing because he was (like you) dreaming it all up. He has been out to Magagascar 2 TIMESin 5 YEARS!!! The second time was only last month. The reputation of this company has been destroyed by Shishir. He didn't need any help from shareholders to do what he has done to wreck the share price. He needs to be reigned in and watched and guided. He should be part of this company I totally agree - but not running it. That has been tried and it did NOT work and will not work. When something is broken you either fix it or replace it. We suggest we try fixing it. Vote and we get 4 people who will help guide Shishir and the company back to profitability. This is a no brainer. The 4 people are shareholders in TGR. They are doing what every serious shareholder should do to protect their investment. They are using their professional experience to help TGR get back to profitability. What can they possibly do to harm the company? They own shares ain TGR and they want a return on their investment like we all do. Dont dismiss them as you will be dismissing your our chance to at least get our investment back. DYOR
“In my hOneSt opinion” - a quote from Tomorrowyesterday.
He also told us that Shishir was taking the company private among many other lies.
If there is a vote, will not be voting for a takeover from a group of investors that use lies and misinformation to damage a stock price so they can gather support. A shameful play by all those involved.
I’m not trying to compare Syrah to TGR, just highlighting to fairdealer that TGR is among many graphite mining companies that have declined in SP.
Easy to listen to the complainers on here, they will have you believing the decline is because Shishir wants to take the company private or “mismanagement”.
Been a pretty sophisticated campaign against TGR for a while, including a few on here and on X. I’m adamant this is a coup. Do as much damage as possible, have shareholders question Shishir’s integrity. Remember how adamant Tomorrowyesterday was that TGR was being taken private, worse accusations about Shishir and his other business interests.
They realised we’d found the bottom and slight signs of a recovery so they had to act before SP recovered too well and they would lose the support off long term holders. Disgusting and very worrying for their sake to think that ex board members were conspiring with the likes of tomorrowtoday.
If it comes to words and targets TGR has missed theirs / performed worse than virtually all others. Shishir maintained the 6100-6500T q1 target right past the quarter and yet it was missed by a country mile, not even close to half. Q2 then came in even lower and after that we once again get quite bullish targets for H2 but so far , with the half year over, we haven’t even been given a hint of how either Q3 or Q4 went.
As it happens TGR in many ways are in a healthier position than many other graphite miners due to taking a low cost approach to their growth strategy, so whilst misses have been egregious the losses have remained modest but that doesn’t excuse the misses.
Shishir floods the airwaves when he has good news to share but goes into hiding when the opposite needs releasing and as of this point in time has shown no ability to turn the ship around.
However it’s hard to imagine the four that are part of the requisitioning group have what it takes either. So all in all a pretty miserable situation
This meeting is NOT to remove Shishir and Puruvi. This meeting is to appoint 4 people to oversee how this company is being run. It will ultimately make sure Shishir stops lying to us all (imminently)and also stop him ftom selling shareholders graphite to himself. It will restore TSG. It will (if it succeeds)lift the share price by at least 10 fold imho. Shishir knows about graphite. He doesn't know how to run this company. He has tried and we at at 5p. What more needs to be said? Vote for a better TGR that is tun for every shareholder and not just the poddar family. Dyor
Important to look at it objectively:
- Syrah burnt through $80-100m last year and appear years away from profitability hence it’s diluted it’s shares by factors over the years just to survive, and will likely continue to dilute, making previous highs likely unattainable for holders of it.
- TGR seems to only needs some sort of small capital as it’s stated before, to allow it to unlock its higher levels of production that should bring some decent cash its way rather than out the door each year overall by my calcs, do your own research btw.
Of the two companies, I know which position I’d rather be in as a business (TGR by far), important to note how and why each is different, here I’m more focussed on the underlying business performance prospects.
Syrah;s decline over 8 years amounts to 1200%
TGR decline over the last 3 years is 3000%
Many in Syrah will have lost hugely but nowhere near the level of loss in TGR.
The numbers speak for them selves.
DYOR as I do!!!
Yes it has, even bigger for some.
Syrah 2016 SP $6.05
Syrah 2024 SP $0.50
DYOR
So why have China restricted export of Graphite? Has the hit to which you refer led to other miners taking a 1500% decline in SP?
Was the suspension last year, the rapid resignation of Broker, an accident or pure Bad managment?
The continuing " imminence" of VAT refund, which for all PI's know is due to an investigation by Madagascian Authorities. WE just do not know.
Whose naive? Get real.
Don’t be so naive, most graphite miners if not all have taken a hit. Not an exclusive issue to TGR. Shishir is responsible for building the company.
We thought foul play with Tomorrowyesterday and a few others, turns out we were correct.
Shareholders/Posters need to reflect on the catalogue of disasters that have led to the rapid decline in the SP when the company has an exceptionally valuable asset.
There is only one person who ultimately holds reponsiblity, Shishir.
I support the Group, who have in train previous Board members who probably resigned because of Management issues and the Direction of travel.
Remember these past Board members will have much greater knowledge than anyone here.
However because of the Poddar's Holding it is highly unlikely they will be removed, unless, as previously stated, some improper activities have occurred.
Agreed Harchris that in terms of comms and actions the company has been failing.
And this might give them a nod that they need to improve as unrest is growing.
I'm not a fan of the action, but equally, they are still shareholders themselves, so not like non-related to the company.
Whilst I'm on the fence over this requisition wouldn't this be the best time for Shishir to actually start delivering on his promises? Go back to March and look at the flurry of rns' we got - one after another. We had 'Corporate Update', 'Global Graphite Outlook', 'Madagascar Exploration Update', 'Business Development Update' and PMDR dealing yet 6 weeks later and still nothing. No tax rebate from the Madagascan government that's been talked about for nearly a year now and was supposedly imminent, no CFO in place, none of the new independent NEDs, no update with actual production figures.
It would only take modest operational improvement for Shishir's position to be safe but so far in 2024 the jury is out.
Indeed, all yoi have done for ages Tomorrow is attempt to destroy the reputation of this company, often with unfounded "truths", such as the take private one. That has likely caused harm.
The bit I am unsure on right now is if you just genuinely feel the bod has let the company down and just want it run better, or if this was all part of the broader plan by a group of you to pull off a coup so to speak.
With such a small stake (5.8%) I can't see it being pulled off unless you get a aweful lot more holders onboard, but given you have banged on for ages that the Poddars hold so much they could go private at any minute, are you then expecting them to turn on each other and join you in the vote?
OR
Are you going to try to say everything you can to convince the rest of us to vote with you, lieing like a politican to gain votes.
The fact is you’ve been saying anything to damage this stock. Including that Shishir will take it private. Pretty obvious as to what you were doing and now we know why.
I always knew a lower SP is what you wanted, I just wasn’t sure why. Now I know you wanted shareholders angry and upset at management so they would vote your way. You’re definitely not as thick as you made out, I’m impressed.
Even worse though it turns out you’ve been conspiring with 2 ex directors, ethically awful, legality of it all I don’t know? But why anyone would vote for a group that uses such dirty tactics I don’t know
Evening all.
I dont post very often on this bb but a bit confused by todays rns. I know the sp is on its knees, but why would you call for aGM to get rid of Podir? A family with over 40 years in graphite space, built up business etc, plenty of skin in game. Comments,views would be appreciated.
GLA
DK
We must Restore the republic
What part of this meeting are you not understanding Saluc...Zan TM .. drewstevo?
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. We are also proposing to bring TSG back which would mean an end to pranagraf taking most of our graphite on the cheap and selling it on. Anyone who is not in favour of these changes is either a Shishir monkey or they are out to destroy shareholder value. The fact 2 of the non exec directors are prepared to return says it all...they were pushed out by Hitler.. by that I mean shishir of course since insuders tell us he has become a large headed egotistical ruler filled with self greed. Do some research .. and Saluc you should ask shishir for a pay rise since all the rubbish you dream up takes a fair bit of imagination...DYOR