Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Director buy of 30k shares @ £1.59.
@addicknt : there will be long lines to get tickets for his court appearance.
It is on the ADVFN website ( not that I would recommend that site )
Moljen; Yes you are right. The RNS is not shown. I saw it on a Hargreaves Lansdown (HL)site. I also noticed that sometimes the HL site does not show all the RNS `s where as I see them on this site. So I always check several sources. Of course the particular company web site is best but it takes time if you are looking at a multitude of companies.
@addincknt : no kidding.....the clue was when he relinquished all but family business directorships.
Good news for the company (and about time) and equally good news that Mr Terry is still in the spotlight.
Jaff - the RNS isn't shown here which doesn't help either
Answer to my own question: Yes it has had a positive effect . So had not been factored in.
The spread does seem to be very high though ! I see this going as high as 174p this week.
Havegun: Should this not have a positive effect on the share price today or is it all been already factored in ?
Watchstone Group PLC - WTG
REGULATORY UPDATE – NO PROSECUTION OF THE COMPANY
Released 07:00 28-Apr-2020
RNS Number : 0433L
Watchstone Group PLC
28 April 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014.
Watchstone Group plc
("Watchstone" or the "Company")
Regulatory update - No prosecution of the Company
Watchstone Group plc (LON:WTG) announces that it has been informed by the Serious Fraud Office ("SFO") that it has determined that the Company will not be prosecuted for criminal offences in respect of those matters which were the subject of the SFO's investigation into the Company.
The SFO has confirmed that the underlying investigation remains ongoing.
Watchstone Group plc
Tel: 03333 44804
WH Ireland Limited, Nominated Adviser and broker
Tel: 020 7220 1666
Chris Hardie
Lydia Zychowska
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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Regulatory update – No prosecution of the Company - RNS
Following my last posting I decided to bite the bullet and sell the lot at 143.1 p. Already re-invested the funds and as per today have made between 7 & 8% already. I remain very sceptical that the eventual total capital return will reach the 195p valuation per cash holdings a while ago. Expecting a very significant cash drain under the Covid situation but he ho we'll see in a year if I was right or wrong.
I know some of you said the letter from HSBC was incorrect, I've had no retraction from them, and when I called Friday was told contents correct. We'll just have to wait and see.
Mr C, think you could sell tickets for that activity and recover some of your losses!
If I'd lost this much cash on this I would be squirting lighter fuel through RoB Terrys letterbox followed by a lighted match !
Got a email from H/ L this morning confirming the return is very much on
The letter is incorrect.
Confirmed by the company. HSBC will issue a correction.
Good morning all.
Just had my letter from HSBC confirming payment has been cancelled NOT delayed or postponed.
Ive just been doing some calculations which Id like to share with you and ask your opinion. Having already lost some £50000 approx on this share over the years, I calculate that my current shareholding after all the dilutions is a grand total of 1724 shares across ISA, Sipp and fund holdings. If I sold the lot at £1.43 that's give me a grand total of £ 2465.32. If I held on and by some miracle at the final demise of this company I might get an extra £0.52 per share (based on the RNS notice of £ 1.95 per share_ that would give me an additional £896.48. More realistically and based on my own postings, say we only get another 30p per share that's give me £517.20.
So the dilemma and question is do I think that with the markets running hot currently I might be able to register a gain of 21% (ie £517.20 divided by £ 2465.32) in the same time frame that I would otherwise have to wait for my capital return from Watchstone. I'm sure many of you might be asking the same question. I know the sums are small and that many of you might have much larger residual holdings but the same percentage play applies. Given that one investment I had since end March has already returned over 40% I am leaning towards the sell and re-invest now or miss the boat as markets recover.
The most important factor in determining post capital return share price, will be the actual cash position at that time. As you indicated the latest RNS did confirm a cash position of approx £90 million equivalent to a cash equivalent of 195p per share. However as I indicated in an earlier post there is bound to have been some cash burn in recent months, and even more so in the light of the Covid 19 business lockdown. I highlighted the cash burn between June and December so am expecting even higher cash burn. The Ingenie business is still loss making and is surely absorbing some cash and not sure it really has any notional value. So my best estimates are that post capital return they will be left with only around £20 million in cash plus an ongoing loss making rump. With the 46 million shares in operation I would expect like you a share price of 30-40p but no surge, just more agony and waiting for us long suffering shareholders as we await the complete windup of the company.
My thoughts. WTG recently advised of holding the cash equivalent of 195p/ share. Following the cash return we should be left with about £40m cash, Ingenie and the possibility of settlements with Aviva and PWC. All in all, in my opinion, that should value WTG post capital return IRO £45-55m or 100-120p / share. Add in the obvious market risks and I would expect if to be trading 30-50p immediately after the cash return. If it’s 30p I would expect a surge as people reinvest a proportion of their capital return.
B
New account, first post AND a broken calculator.
Tut tut.
ATB
Not much because all the info ( cap return ) was known .Just a timing matter.
Question is ...what will the shares price be after the Capital repayment?
Rump should be work @ 40p
They just announce intention to do capital return of 110p in June. I wonder what this will do to the price today ?
Any responses ?