Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Change: 0.05 (25.00%).
More waiting ahead.
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Allenby resigns.... Suspended.
A whole seven days . Interesting .
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Final update coming.
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Crazy trades & whopping spread .
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That was a long one.
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Le Curtain Finale .
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Looks doomed .
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Could be a wait.
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Pure punt.
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Yep, it certainly looks a very desperate situation, I am just surprised from this level, more attempts have not been made to try and work out a survival plan,....GL S
Been watching for years, pure gamble but will end up same way as ZBO, gone.
I am very mindful this is a desperate situation the company finds itself in, but I do hold and I have reached out to the company and its board to see if there is any feasibility in discussing shareholder support being put together, at a circa £100k mkt cap, surely there has to be some options available?, I also note a few trades this morning, following yesterdays news that the bank payment was made for April and the timeline extended to May 10th, has anyone else reached out to the Company or the CEO?....GL S
A number of negative events have induced a fast decline in Walcom's balance sheet :
- 50% reduction in Pig population due to African Swine Flu.
- Customers defaulting on payments owed.
- Forced Disposal of it's Thai division to meet liabilities.
- The passing of Non-Executive Director.
Chief Executive Mr. Chi has provided a unsecured loan to keep the Company afloat which is commendable, but without additional support, the future looks bleak.
Walcom has a long and valuable history of Scientific knowledge relating to animal feed and animal husbandry and has recently passed "The inspection of the Feed Quality and Safety Management Regulations" of the Ministry of Agriculture.
Walcom's future has never been more important, as when ASF is controlled, Walcom's core competencies will be in high demand. I hope the Chinese Government recognize this and offer some support. Best of luck for the future Walcom.
I love a punt, but not this time, not this one.
All the best.
Woohoo things hotting up here 3 trades!!! :)))
lmao, been waiting for someone to buy and pump this.
Held since 2012. :( .... Thus proving Pigs don't fly. RIP Walcom, although Easter is approaching ?
Somebody Loves them....Even with a spread of 180%
Just under 1m in cash.. profitable company 150k per year.. but really worth a listing ?
Can someone link me to the firms site? Cheers
Nothing to note, Cash - Loans = 2 x Macp but China and lower revs/profits. Pass
and it's listing on AIM. Random. China linked and SP at all time lows, minimal liquidity, MCAP of 0.43m. If it wasn't in China would be tempted but just doesn't smell right. Fundamentals would suggest it's a buy with cash and NAV well in excess of MCAP. Watch for final results next month and see if anyone's watching lol!
8 May 2014 WALCOM GROUP LIMITED ("Walcom" or "the Company") Final results for the year ended 31 December 2013 CHAIRMAN'S STATEMENT On behalf of the board of directors (the "Board"), I am pleased to present the final results for the year ended 31 December 2013. Results Although the global economy began to show signs of improvement during 2013, the slow growth in the PRC market continued to affect the Company's results. The Company's sales momentum was maintained during the period but, unfortunately, the continuing impact of increasing production costs and operating expenses resulted in the Company finishing the year under review with a small loss attributable to the equity shareholders of HK$0.1 million (2012: Profit HK$0.9 million). Turnover and gross profit levels for the year increased by 3 per cent. (2013: HK$48.6 million; 2012: HK$47.2 million) and 4 per cent. (2013: HK$30.8 million; 2012: HK$29.6 million) respectively compared to the previous year. Net profit for the year decreased by 49 per cent. to HK$0.9 million (2012: HK$1.7 million) and EBITDA decreased by 39 per cent. to HK$3.9 million from HK$6.4 million in 2012. A summary of the results for the period is set out below: Year ended Year ended Change 31 December 31 December 2013 2012 HK$'000 HK$'000 per cent. Turnover 48,622 47,239 3 Gross profit 30,752 29,556 4 Operating profit 2,532 3,725 (32) EBITDA 3,948 6,444 (39) Net finance expense (31) (109) (72) Profit for the year 863 1,701 (49) Earnings / (loss) per share attributable (0.17) 1.24 n/a to the shareholders of the Company* (0.17) 1.24 n/a - basic (HK cents) - diluted (HK cents) Net asset value per share attributable to 28.90 27.82 4 the shareholders of the Company (HK cents) * after taking away the minority interests in overseas subsidiaries, there is a loss attributable to the shareholders of the Company for the year ended 31 December 2013. Operation and market review During the period the Company continued and compounded the strategy it adopted in 2010 of marketing directly to potential customers. In the Company's experience, pig farms and animal feed mills tend to be