Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Anyone know why Rockwood don't appear on their list of major shareholders, please?
https://mcsaatchiplc.com/investors
AFAIK the plc only holds the shares in the subsidiaryy companies (active & dormant), and any cash that might be remaining from, e.g., the Petrel sale & capital raise.
It also has some charges on it (HSBC & pension fund).
There should eventually be administrators report in the companies house filings, I think.
Looking back at the caseboard link someone shared, the wi di g up petition was against the subsidiary, not the the PLC. Son unless there was another petition too, that 7 May RNS that said it was against the holding co. PLC seems odd?
Interesting, in that RDC was in a fairly solid position I think, but Chamberlin less so.
There are cross guaruntees between the group and its subsidiaries, but presumably not on everything. {Mainly HSBC & the pension scheme?). Seems rather complicated. The two different subsidiaries have their own filings in companies house.
RE the disclosure thresholds. it seems there is an exemption under 5.15R(1) for fund managers, meaning only 5%, 10% thresholds need to be reported.
https://www.handbook.fca.org.uk/handbook/DTR/5/1.html
I am encouraged by the fact that Castings are spending 17M of their cash pile to build a new foundry over the next 2 years. Of course this doesn't say anything about whether CMH have what it takes to compete, but it does suggest there is room for growth in this industry (onshoring, supply chains, etc). I originally bought because it had been in Simon Knott's RIII portfolio, though the new managers sold it when he retired. I bought quite recently, and have kept buying a bit more as it has dropped. I don't know anything about TB though.
This all makes sense. I just hope the SP doesn't drift down on v.low volumes, as if it does and there does need to be another capital raise (I think there probably won't be) it could affect the issuance price and thus cause more dilution for those who don't participate in the raise, or buy more shares at the lower price to avoid dilution.
I suspect the main potential buyers of this are more interested in injecting capital into the company if/when it needs it in order to protect their prior investment. Actual purchase of shares in the open market isn't going to make much difference to the company itself at this time.