Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Any reaction on the lack of final results in July notaflipper? I think it is beyond a joke. I work for a private company and we get our final results out in less than four months after the year end. It’s all about investor confidence and transparency. I cannot understand why it takes so long.
I think the number of options granted is too generous and the performance conditions too lax. I understand that the only performance condition is that earnings per share have to be higher than in each of the next 3 years than in the year ending 31 March 2018. That’s not going to be very hard! What does this mean for an imminent takeover? That would not trigger their share options unless they have provided that a sale is a trigger event. Who knows, it’s all so opaque. I also asked if the annual report is on track to be released in July and was told the deadline is end of September! Wasn’t July touted somewhere as a date for Finals or was it just in a Hardman Report? Either way seems less likely now and if it is September that will really p!ss me off because it is such bad practice.
What are the performance conditions attached to these new options? Exercise price seems a little low to me. We want news on commercial and legal progress not the snouts in the trough.
Yes good to see a positive market reaction, says everything about the demotion of SL and the appointment of a proven commercial operator.
Agreed seems like an excellent appointment and look forward to seeing what it means for the litigation/settlement and relationship with TF. I guess it makes a takeover further away because a new CEO would not want to come in knowing a takeover was imminent? I wish one other board change was to replace lightweight Reynolds with a heavyweight Chairman but I guess changing two key positions at the same time would be unsettling.
Not worthy of an RNS?!
What’s your average now?! Mine is 16p so hopefully a chance to get most of my money back still! Yes, an enforced settlement by Mr Carr would probably be better than withdrawal, ongoing settlement negotiations and the protracted legal process. I’d forgotten about that - 10% seems to be the ballpark license fee and legal fees would cease for both us and Illumina. How can they think a settlement would deliver a better outcome? I struggle with that.
Great post notaflipper, spot on. Surely there is nothing left to discuss with Illumina now and we either continue with the legal process or withdraw from the UK market. But we should announce that to investors because this ongoing uncertainty is just purgatory. They do not want to settle and whilst they are stringing NIPT along the Board is stringing us all along.
I think given the importance of what is going on with Illumina just having a CMC is material so they should update us on its purpose and outcome.
Is that on public record notaflipper?
How bl00dy long does it take to negotiate a settlement with Illumina? I really don’t think they want to settle so what should we do? Carry on as we are and wait for the appeal? Withdraw from the UK market unilaterally? This impasse is so frustrating it’s like Chinese torture. Who will blink first?
Forgive if already asked and answered but could acceptance of the submission come quicker than the suggested two months given it has been a rolling submission for the last couple of months? Thanks
Who is Stephen Myers? Does anyone know?
I’m afraid I disagree. Net current assets at 31/12/17 zero. Cash raised since year end c.£0.9m (£0.55m equity after costs and £0.35m disposal of Choco). Likely costs to date 2018 c.£0.3m. Rough cash estimate £0.6m. Tell me if I’ve missed anything. Only thing I can think of is option payment of £0.2m early Jan that would make things worse. Happy to be proved wrong.
It would be helpful to know how much cash we have now and how much we plan to spend. By my rough calculations we probably have about �0.5m-�0.6m in the bank, which I think means another capital raise shortly that is probably why the share price is not rising after the good news on the Mankayan licence.
Bill increased his %, Alan’s decreased