CP April QnA answers re: IPO16 May 2023 11:10
"Hi xxxxxxx our aim for shareholders is to get them a liquid share at a price that gives them a great return. I’m not sure what else beyond that that we should be trying to do. I know plenty of people who would buy all your shares right now at 1p so you’re not trapped in an investment, but I doubt you’d be happy with that ROI. We just have to stay the course. The reward should be achieving a great share price when you sell."
"Thanks xxxxxxx but you keep your returns. I’ll be going for 10x share price within 3 years of IPO (because that’s always my first target, doesn’t guarantee it of course) with or without you adding any extra incentive. So you keep it my friend. Your patience will have earned it!"
"Sorry xxxxxxx I did miss those questions. We have the listed Deccan shares in our broking account in India but they won’t be tradable, should we wish to sell, for another 4 months, which is one of the reasons I’m focused on the Company completing it’s pre-IPO round. IPO progress at this stage relates to consolidating our investment assets into Deccan shares, and as a business growing revenues. Onboarding has been consistent over the last few months in line with the marketing spend we’re allocating. Part of the IPO, in itself will raise Tally’s product and brand profile, is to raise a chunky amount for marketing. Teco will help bring in new revenues as we grow UK customers, including being able to provide SME accounts around the start of June, but also because we can structure deals with other platforms who can benefit their own customers by integrating tally."
"Evening xxxxxxxx I didn’t quite follow all of that, but yes a gold bull market will make our lives a lot easier in attracting customers. We are looking at IPOing on the LSE Standard List and being on the Main Market."
"Evening xxxxxxx. We’re still in our pre-IPO round and the plan is to IPO within 6 months of that closing. We’re looking at ways of ensuring there’s a second market push post IPO to mop up people looking to get out."
There were other questions about Teco, the mine sales/MOUs and non-UK Tally push.
I accept that things have changed beyond CPs control, being booted off of AIM (not deliberately engineered by CP imo), morphing company from one thing to another taking time, the mine sales taking time, then a pandemic even CP couldn't forsee, and subsequent crash of 'unicorn' Railsbank, affecting Tally finances.
There are things that WERE/ARE in his control and it's my opinion he has used every issue arising from everything as a reason to keep this project coddled and away from market. His obsession with a main market listing may ultimately be fantastic if it ever gets there but could equally be the death of a company forever chasing it over the next hill. You decide. In our favour he has now committed to IPO, not to us but to a City publication. He likely doesn't care much about us, but his City rep. is up against it now, in print.
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