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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
To finish…
….TGR’s solicitors. Let’s see where this goes!
The whole thing is a con job - Shishir needs to be reported to FCA also immediately
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!
He’s talking about the new group whatkid?
Some of that content is extremely concerning to say the least. I am reading through the response now but I have to say I think I know which way I will vote after reading that, goodness me, thanks for posting.
The poster seems right I found the Twitter account for ninja-pe like they said: https://twitter.com/lwkoot
With this information and having read the response RNS I think it’s fair to say the appointment of the proposed directors would not represent “wholly independent” directors as referenced in the RNS response today. Surely the company needs genuinely independent directors, not a cabal on its Board, which their mutual and historic connections suggests would exist.They appear to all be known to each other and seemingly have a history/connection to the company. In that light removing the entire current Board and granting this group of seemingly non-independents would be like a hostile takeover but without the bid and carry all the risk now that we have this perspective.
I can’t support that and I will be voting against the resolutions.
I agree with this - there is certainly issues that have happened behind the scenes which have caused Isabel & Murat to resign, which will undoubtedly be reasons for shareholders to be concerned - but having found Leo Koot on Twitter he looks to be one of the CLN holders who wasn't paid interest on time last year. Both himself & Mark Rollins connected via Beacon Energy and as you point out - I can't see how they bring true independent governance, not least taking the key points that neither have demonstrable experience in running a graphite operation.
Hopefully, though, this requisition letter has given the company a push in the right direction to a) be more transparent in terms of the related party transactions which have long held concern in terms of who's actually benefitting and b) get the right appointments in place to drive the company forward
As HarChris mentions the cash burn rate since the £1m raise is the key concern at the moment, that working capital agreement is crucial
Didn't Sushir state recently that he was worried about the company being vunderable to a takeover from a third party. Perhaps he already knew something was brewing.
The dilema is that neither the current board of TGR or the new group seem to be any good for us shareholders. Unfortunately, the cons far outway the pros with all of them.
Exactly! Shareholders beware of this group, they sound sweet but look with your own eyes, it’s all coming out about them now talk about value destructive. Strongly suggest not being tempted by their lullaby’s.
IMO a vote in favour of the resolutions will end up with no value going to shareholders. This group will look after themselves. Let the company learn and get the bod sorted and the sp will recover accordingly.
This group will just serve themselves.
This company desperately needs to conserve cash. All this whole episode has done is waste funds on expensive
lawyers fees and distrat management effot. It has achieved nothing but
destroy shareholder value in the interests of certain parties with their
own axe to grind. Some of those shareholders on here backing this group should be ashamed of themselves.
TGR will likely need to raise a good few times what they did in the Jan placing at a share price a third of what it was just to cover the July coupon, pay all the long overdue remuneration owed to staff, recruit a CFO and to get back into fully operation. That could be very heavy dilution to get back operating on an even keel.
I don't particularly trust this new group either but to act like they're largely to blame for the current mess is ludicrous, the mismanagement from Shishir is on another level.
If the resolution doesn't get voted for, what does the current BOD do then. Carry on with giving out what a great company we will be and continually include Pranagraph's business as TGR's when for all intents and purposes it's a completely seperate company. It's always tomorrow will be great but nothing seems to improve.
While I'm whinging, in the RNS it states that Puruvi isn't getting a pay increase now she's a board memeber, but given a load of shares instead. She's a Director of Prangraph so aren't they paying her wages? One thing for sure is when dilution comes the current BOD will give themselves a load of shares to cover it. The BOD are paid a lot of money for getting us into this mess and Shishir has worked nearly 4 hours a day on it. He should do it for free as most of it goes to Prangraph anyway. I'm totally frustrated with this whole situation and now look at everything with utter contempt.
I've lost faith in it all. It's a shame, because someone is going to make a lot of money out of this, but I know it won't be me.
Have you lost the plot havealot? Have you not seen the destruction of the share price over the past few years? I 100% back this new group. The Poddars have had plenty of time and opportunity to create shareholder value and all they've done is destroy it by being very greedy. Time to vote these charlatans out.
HarChris,
The new group isn't the main blame factor, although their (suggested, not proven), attempts to talk down the company for some time prob hasn't helped the SP much, nor does the fact those who were previously employed didn't do much when employed to step the rot so to speak.
Regardless, I can see there is a lot of emotion connected towards this vote, which is likely blinding somes views. I've seen calls for revenge, which might feel nice for 2 mins but wont help the company or SP. Likewise I've seen both sides calling for getting the FCA involved, which def wont help the company or SP as getting yourselves delisted or fined isn't that useful lol.
That's the problem with votes though isn't it.
Its not really a great vote either is it.
Your options
1: Vote for a underpermoning CEO and board to stay
2: Vote for a group which is likely to destroy whats left via inexperience and other reasons
As it stands, the new group hasn't shown anything worth voting for, thus I can't vote for them. And so, while not happy I'm only left with option 1, for now....
For me the best outcome would prob be some sort of agreement between new and old so that it never goes to vote (as a vote is a seriously bad look), which solves some of the governence issues (which is really what this vote is about as the FT group can't solve the other ones as Graph prices and VAT returns are within their means).
An agreement for a new chair and maybe one new ned, but not from list suggested might work well.
Most of the list suggested already had a chance and failed.
Someone said if there was a time to go into hostile takeover mode this would be it and I agree, looks like what we are seeing! A lot of previous posters on this board now also make sense. I’ll vote against the resolutions cause I think the current board guys will do what’s best but also actually know what to do and how to run a graphite company!
Does anyone remember who emailed Shishir and got the response that he was concerned about a hostile takeover? I remember reading it but for can’t for the life of me remember who it was.
I just cannot work out why the group approached this the way they did, if they had suggested appointing a chairman or adding a member to the board I would have almost definitely voted in their favour.
If giving Shishir a wake up call and forcing his hand was their motive I applaud them, yet it sounds like they have their own motives that would benefit them self’s and leave the rest of us shareholders in a more dire situation.
Hi Saluc,
It was me who received the email reply from Shishir about being more worried about a hostile takeover.
I have kept away from the chat since the announcement as it was clear it would get too emotive.
Some new posters appearing from nowhere with very strong views and clearly trying to influence.
I will keep my watching brief
Sadly Croc, as is seen, there is a select group using these boards in an attempt to control the vote.
I'm not sure it will work as prob puts as many off as it gains, but each to their own.
Not great… I feel the targeted campaign by the new group with FT handle, numerous fake twitter and ISE accounts have entirely put me off.. This thing is I agree with some most of their points but there is just no Substance, See a great post on Telegrams below…
FT - you are constantly adding vague responses
1. “We also have good networks to raise funds”. Since you intend the best interest of the shareholders, why haven’t you worked towards activating these networks over the last several months of your group being formed? The board had enough independent directors back at the time of your formation and the company was still trying to raise capital and was in good governance standing. If you don’t seek control, why have you waited for the share price to slide to offer your magic stick? Wouldn’t we all be better placed if your offered your networks at that time? And having helped the company would have also given you a bigger voice on the table with company board for sure to bring about some of the changes you’ve tabled.
2. “We are all proposed as non execs so we will not be running the company from an operations perspective”. If graphite was so easy, so many others would have done it this way. Be a part of a board with no clue of on ground ops. Say we will hire good people who can do this for us while we figure out the paperwork. You are essentially saying we will raise money (let’s say you can do that) and we will throw this money at a problem which none of us have ever dealt with before. You think people with expertise in graphite and those who’ve built it so far would want to work for someone who doesn’t have a vision for the company? And the market it operates in?
3. “Shishir has maintained strict control and refuses to contemplate anything else”. First of all this is coming from two NEDs who are looking to seek control, possibly in vengeance. The company at the same time has indicated that one of these NEDs dropped the ball on negotiations with Pranagraf, which all of us expect to help the share price positively. You have a team that screwed up when they could have truly created shareholder value, but we are to believe they’ll do a better job this time around. If we are not to give a second chance to the team that got the company so far, how do you expect the same leniency for your group?
4. “And in any case he has not performed operationally”. I want to compare leaders here for a moment. A company which Mr. Mark was leading wrote off $27M in impairment as it failed the “exploration” stage of an asset. And here we are comparing it to a team that did a revenue of c. £5M pounds last year. Are we seriously going to be talking about operational performance. I do think the company overcommitted, but I wouldn’t trust the FT group’s judgement on operational soundness. Sorry but you don’t seem to be experts in that area. Let alone operations in the mining space that too in graphite.
Cont
5. “None of us want the company SP to go down to zero. We are aligned with private investors. He is not” You really think the founding team wants the share price to go to 0? Won’t they be the biggest losers? You think Shishir is continuing to swap cash for shares because he wants to let the share price slide to 0? Come on guys..