Member Info for Saluc

Fairtrader, don’t quote me on this as I haven’t got time to double check today. Out of the 7 NED, one was Shishir’s brother who’s by the sounds of things had conflict of interests, one stayed involved in an advisory role? 2 others are involved in the coup.

So yes 7 NED’s leaving does sound bad and it must be a difficult working environment but not as simple as you’re making out.

Fairtrader - “ It is all very well criticising the Group's tactics, but sometimes they are neccesary to get the word out.” an outrageous comment, no excuse for misleading shareholders and spreading misinformation to stir up tension.

Are you unhappy with management or like Tomorrowyester, unhappy with the share price?

From my understanding Shishir has “Managed” to get this company in an enviable position, I must share this view as that’s surely why we invested. I’ve said this before, compare the company now to when it was at its highest SP. In a hell of a lot stronger position now imho

Personally if the group went for a more diplomatic approach and planned on appointing a couple more to the board instead of replacing everyone, I probably would have voted in their favour.

Instead they ran a scaremongering campaign for months, adding fuel to the fire. They are not the cause of the downward spiral but they definitely contributed to it.

They have now made themselves look to have less integrity than the current board and the most insulting thing is they were expecting us, the shareholders to fall for it and join their coup.

I for one will be requesting a meeting or at the very least a call, looking forward to my concerns being answered straight from the horses mouth. Will off course relay the information to this forum as others have kindly done before.

Completely understand you frustration but the grass isn’t always greener

Back to your best Tomorrowyesterday, you’re not fooling anyone agreeing with yourself on different accounts either

Good points motherfarker.

The group also tries to imply 5mil was raised and nothing to show from it, Total non-current assets - £28,828,389.

With very low liabilities in comparison I think it’s pretty clear to see where the money has gone, although it is a constant worry with low working capital I believe it is a testament to the board’s management to getting TGR to where it is on a very limited budget, would it have been possible without the family’s insight and experience in the graphite industry?

Categorically not and I believe even the group couldn’t deny this, so how will the group progress with the suni acquisition as cheaply as the Poddar’s without their involvement?

21 days from when it was sent I believe, I think that was last Wednesday

The Freetirupati group have posted the requisition letter on X. Having read through it, same objectives as current management. Yet it seems the new board are convinced that all issues will be solved with the removal of Shishir. It just sounds too good to be true, I can’t see a positive apart from having a more communicative board. Surely the family will dump shares and we will lose customers from Shishir’s other business interests presumably a great deal from Asia.

Say for instance they own 5.8% yet they probably owned more and could of sold strategically, along side a twitter campaign for months and in the end a low SP and unhappy shareholders, ready for a takeover…

If people were jumping ship and distancing themselves yes I would be worried, as it happens they are trying to get back in.

Or that the group owns less than 6% and unlikely to change management. Clear to see that opinion is divided. Poddar’s own a sizeable holding and support isn’t guaranteed, will be very surprising if the vote (if it gets that far) doesn’t go Shishir’s way. DYOR

HarChris do you mind elaborating on what you’ve heard about the brother? This is news to me and I don’t believe he is involved in the current situation?

Possibly although I don’t think this is the route they would take if they had proof of illegal activities.

Fairdealer if they had evidence of wrong doing they would be shouting it from the rooftops, just look at their twitter page, they’re not shy.

Agree that this is one of your better posts tomorrowtoday, yet I still believe nearly all of it to be speculation.

(1)TGR isn’t the only company struggling to secure funding, you say it is because of Shishir’s track record. Yet his expertise and contacts in the graphite industry have been fundamental into getting TGR into the enviable position it is in today.

(2) A lot of vocal “unhappy” shareholders, you can’t presume to know peoples opinion based on a few vocal sh seeming familiar with each other.

(3) We were given a clear update on TSG a few months ago.

(4) Seems to be Shishir’s biggest sin, overpromising. We will see next update if more realistic targets have been met.

(5) Same as 4, although I’d imagine they did believe the VAT refund to be imminent but shouldn’t have used the word unless set in stone I agree.

(6) Regarding the board, a lot of criticism for Mr Bath regarding his age and experience. I agree this has upset shareholders but you could argue that his purchase of shares did stop the relentlessness downward spiral?

I’m aware you’re down a chunk of money and so am I, I’m down 56%. Yet I do not blame industry trends and a hard market completely on the board.

I would be more understanding if this EGM came a few months ago while we were still in the teens but not after we had hit the bottom (imho) and starting to show signs of a (slow) recovery. DYOR

Without going into the debate of the effectiveness of Shishir as CEO, I’d like to question the legality of the campaign against TGR.

“Stock manipulation refers to illegal activities that artificially inflate or deflate the price of a stock. Several techniques, such as insider trading, spreading incorrect or deceptive information”, and it goes on..

I know for a fact there have been several posters on here spreading incorrect or deceptive information. I also know that these people were at the very least aware of the coming requisition letter. I can’t prove their involvement but by some comments I think a few of them already have.

I know that “share profits” or at least Tom W is involved. I refuse to hand over money to read his articles so I’m not fully aware as to what he has been spreading.

Even now they claim that if they get there own way the SP will reach over £1, implying Shishir and his governance are the only things holding this company back.

I’m not sure if it’s worth filing a report or to leave it to TGR as they are already said to be investigating the validity of the requisition letter. Advise welcome

Yes for once you’re telling the truth, not sure why it was down when I clicked on it earlier.

Fairdealer there was a website “Freetirupati.com”. It looks as if the group has run into trouble already as it’s been pulled down.

It had details of their proposed board and future plans, seemed similar to Shishir’s tbh.

Zan_TM couldn’t have said it better myself. Remember tomorrowtoday knew this was coming, he told us enough times. So he’s obviously involved to a certain degree.

Luckily I believe he has exposed himself enough times in this forum that his words don’t hold much weight. If Shishir or the board behaved in the way that this group has I’m sure they would be facing legal action, I do hope others cop on and will support the exposure of this coup.

I’m not looking forward to Monday but I was relieved to see no big sells off the back of the news of the coup, wouldn’t surprise me if the sells did actually come from the group to try and gain momentum.