Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
If I have read correctly, £2.2m required to profitability and £1.9m-ish was raised. Is now the time for shareholders to push for a salary cut to make up the shortfall? We've been patient enough. Time for the board to meet us in the middle and get this over the line?
If the board don't get the money they need, there won't be a company and a folded company isn't going to make you any money.
I've never sold a share other than to move them between accounts, though have taken my full allocation + 100% more to try and support the company. With updates due on a number of projects (Morocco, fuel supply, Panama, Utah), my bet is that there will be something to lift the price above where we currently are. I may then, for the first time ever, sell the OO shares to reduce my exposure and take my money back.
Can anyone please explain the broad advantages and disadvantages to the company of allowing existing shareholders to participate? Why would they choose not to allow us to participate given the longstanding support they have been given? Thanks.
I am sure others have too but this is something I contacted IR about recently. Getting regular news flow out is crucial to building some momentum (and the share price) in the face of any short term fundraise to avoid major dilution for long-term shareholders. The BoD may have claimed historically not to focus on the share price, though right now the price we raise at and levels of dilution are key to maintaining a highly loyal base of very supportive private investors. If there is anything good to say, the time to say it is now!