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Good points motherfarker.
The group also tries to imply 5mil was raised and nothing to show from it, Total non-current assets - ÂŁ28,828,389.
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?
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.
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
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 ÂŁ1, 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
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.
A few accounts on here were created for one reason. To destroy shareholder confidence and to divide shareholders and the board.
1st example Stevemc -take a look and see.
2nd example Tomorrowyesterday - this is a quote from a post that he was “invested” in before TGR. “ I strongly urge anyone who's is shareholder to email the company and not just ask...but demand to know whats going on and why the silence. This share will now be pulled down to 30 something (or worse)... management know whats going on but they are keeping quiet. They are doing nothing to halt the drop...whats even worse is they are actually encouraging it by keeping the silence...” sounds very similar to the scaremongering on this forum.
Another from Tomorrowyesterday- “Still very cheap at 48.6p a share. Managed to get 30000 of these as a top up earlier today as its way over sold on 'fear following fear'.” This quote was about the same company as above POLX. SP today is - 3.75p
Do not trust these people, they have their own agendas.
“In my hOneSt opinion” - a quote from Tomorrowyesterday.
He also told us that Shishir was taking the company private among many other lies.
If there is a vote, will not be voting for a takeover from a group of investors that use lies and misinformation to damage a stock price so they can gather support. A shameful play by all those involved.
I’m not trying to compare Syrah to TGR, just highlighting to fairdealer that TGR is among many graphite mining companies that have declined in SP.
Easy to listen to the complainers on here, they will have you believing the decline is because Shishir wants to take the company private or “mismanagement”.
Been a pretty sophisticated campaign against TGR for a while, including a few on here and on X. I’m adamant this is a coup. Do as much damage as possible, have shareholders question Shishir’s integrity. Remember how adamant Tomorrowyesterday was that TGR was being taken private, worse accusations about Shishir and his other business interests.
They realised we’d found the bottom and slight signs of a recovery so they had to act before SP recovered too well and they would lose the support off long term holders. Disgusting and very worrying for their sake to think that ex board members were conspiring with the likes of tomorrowtoday.