Member Info for mhow

The last time it appeared Shishir voted against resolutions it was c. 28m shares, today’s votes show an against of 7m, hopefully the selling pressure recently has been selling his personal holding which is significantly down, or would it be wrong to assume that?

Hopefully someone can allay my concerns on this but reading through the resolutions it reads very much like Optiva & co will continue to award themselves shares, I'm sure take a healthy salary over the next few years and continue to heavily dilute shareholders to raise money and keep the wheels turning

There'll be a few still on the forum who had invested in the company in the early days of listing in good faith, and have been essentially taken for a ride by Shishir and his daughter, share value now next to nothing, with the supposed recovery team now in place and from what I can gather, ensuring they reap the rewards of recovering the business, not protecting the interests of early investors.

I can't remember seeing 1.5p placing in their list of promises to shareholders when they were running their campaign to take control of the company - any slim hope of recovering any investment here well and truly gone, Optiva will be happy though, keeps their billings ticking over...

"While there have been some partly offsetting cash savings, we are evaluating the options to secure additional funding."

Get the feeling that whilst there might be behind the scenes graft to keep the wheels turning, anyone (including me) who is sat with suspended shares are going to see them diluted to oblivion over the forthcoming months.

He's still got people chasing him on his Linkedin comments for unpaid wages so it seems he was shafting everyone

"targeting late April for the resumption of the Listing of its shares on the LSE for trading".

As someone who has been holding shares since '21 it's small comfort that all is not yet lost and whilst it's good to see new directors putting their cash behind the subscription, the reduction to sub-4p leaves a bitter taste

I would really like to see more information coming out around reasons why Shishir was suspended and what the company has within its power in that respect; he was very good at awarding himself a significant bundle of shares in lieu of payment, is there any legal precedent to strike these off if found guilty?

Pretty damning update concerning his approach to running the company - is there precedent or grounds to see him held to account for clearly lying to shareholders?

After everything that has been announced over the past couple of weeks, it would be good to hear from the new board via an investormeet- even if they can't comment on the Shishir investigation.

HarChris I know you have been rightly saying this is now a much more credible outfit to encourage new investors in, but if you look at Beacon Energy I can't see where Rollins at the helm has delivered shareholder value. Similarly I made a note months ago that very few Optiva fundraised listings have gone on to be valued higher than their IPO

I'd be delighted if I'm wrong on this, of course, but at this point in time I still have little confidence in the recovery which we're all after

What I would say is after Shishir ran us into the ground and then awarded himself a nice payout in shares, I'm very happy to see him suspended, be interesting to see what comes out in the wash over the next few weeks...

I am still very apprehensive that there is a good news ending for us shareholders - in the requisition presentation I think Murat sat there and said had they been voted in they would go immediately for a placing

You've also got the scenario where Shishir may offload a load of shares if he is unhappy with how he's been pushed out - don't forget he's been putting lots of energy into growing Pranagraf so he probably sees that as the big payday over the next few years

Heavily underwater same as many people here but I can see this reopening in a few weeks at 4-5p and it's 3+ years away from any proper recovery - my hope is the recent rises for graphite producers bodes well for getting production back up and running and having the demand there, but after the past year + who is going to trust investing in the company?

Handsomely remunerated for failure this year!

Between three new non-exec directors, a chairman and Shishir, no one has communicated to shareholders, it’s ridiculous - I’ve tried emailing to get a response and would encourage others too as well

What happens next when the audited results aren’t posted tomorrow? There’s clearly a reason they’ve been held back if they were “substantially completed” weeks ago..

It's certainly make or break over the next couple of weeks but I'm in two minds whether this is going to come good

Companies House reports AB resigned on the 17th so you wonder whether that was part of the conditions that the SWF have put forward, an appointment on the board in due course and his resignation, the trial deal should be completed this week so hopefully IF it's good news, that is announced early next week

The other side of the coin is it's another in a long line of resignations where no one has managed to work alongside the other two directors and Alistair has decided to go before we reach a dreaded de-listing at the end of the month

I'd like to be positive but as HarChris points out, there's CLN repayments due and no sign of the money to pay them..

This does not look like good news - if financing was about to be agreed & accounts signed off, why would you resign? Especially when you’ve invested a large sum in the company + have been working for months without pay

Alistair was the most communicative director the company has had, this does not bode well

No one has seen or heard from any of the directors since the listing was suspended bar very short RNS quotes

Is anyone else still waiting on their payout?, ii holders on advfn said theirs came through on the 18th

Nothing for me (IG) - Could be anytime between now & the 20th I think

October saw $245,000 in vat refunds + what looks like c. 300t a month in sales so there is money coming in, what the expenditure is like I dread to think, if you’re working on/off the margin on sales must be terrible

One thing I noticed was the trial deal was for specific grades, so likely they’ve secured 280t of large flake at a very large discount, however if there’s other orders still being fulfilled there is a very very slim chance tgr might stay afloat

With December looming and accounts still not signed off it’s still looking unlikely

Still no development on this for TGR so Shishir has turned his attention to recruiting for Pranagraf instead

https://www.linkedin.com/feed/update/urn:li:activity:7250023016502329345/

Still very unclear on the division between the two companies and where Shishir is spending his time - bearing in mind one company is generating profit and expanding whilst the other is still suspended, I could hazard a guess...

You’re absolutely right HarChris - voters backed Shishir from the requisition group and since that moment he’s delivered nothing and left everyone wondering whether it was the right decision or not

No funding

Minimal VAT returns

No CFO hire (been months without development)

Shares suspended

No news in months

Shambles.