Member Info for Saluc

HarChris what I imagine has been key to the board restructure is the appointment of the chairman, who was only to join if the vote failed.

With the twitter campaign and some of the proposed directors posting under different names in the telegram group, along with the empty promises of securing funding as long as the vote passed. I’m surprised to see you’re still flying their flag.

But this is a positive update, very happy to have the backing of Optiva again.

Well not bad for a company that was only indefensible yesterday

I wouldn’t say I’m on the defensive, only pointing out the obvious. There surely can be no new hires before funding is secured?

Well they all are apart from Shishir I believe

Shishir and his “cronies” are shareholders

Well it certainly won’t help matters that’s for sure

Would you rather they stop producing (if they even still are) and spend the last remaining cash to make new hires? Or wait until funding is secured?

Some of your points are valid and many of us feel the same way but ones like these are completely illogical

No news to comment on, only speculation from disgruntled shareholders. I have no interest Fairdealer speculating on the integrity of the new chairman or answering your repeated questions over and over.

Eagerly waiting upon an update as to whether the August production target was reached, I presume it hasn’t otherwise we would have heard about it. But on the other hand why release good news while trading is suspended. Time will tell but as this is a long hold for me the suspension bothers me little, hopefully being used as buying time to secure funding. GLA

Agree that Michael’s contribution can only be seen as a positive, the standout for me other than the fact we are producing again is receiving a small VAT refund. Will provide a bit of breathing room if these start coming in regularly

Well I can’t argue with that, but I voted for Shishir as I believe he will deliver. Definitely wasn’t the news I was hoping to see today but I find some comfort in the fact he has once again put his neck on the line. Time will tell

So what happens if the company cannot pay back the loan? Which if they don’t secure funding they won’t be able to, you think he put down 1/4 Mil on a whim?

I find it strange that they waited until the very last moment to announce Shishir’s loan, it would have put a lot of peoples mind at ease to have confirmation that the company would see out July if announced earlier.

I would be following this company even if I wasn’t invested, I’ve never seen anything like it lol

The directors would be highly unlikely to lay money down unless funding was around the corner, still no guarantee though.

Production slowed to a halt, a dire situation until funding is secured. GLA

Suspended from tomorrow more than likely then

Typical TGR fashion

The group basically said that TGR would not secure the required funds to pay off upcoming debt obligations, the group insisted that only they would have access to finance options.

If they truly believed what they were telling us and that TGR was going to go “ti*s up” they would have sold out at the earliest opportunity.

I don’t think anybody is in denial that Shishir needed a wake up call, but to believe this was the group’s intentions is nonsensical.

Agreed HarChris. The requisition group made out this was a sinking ship unless they replaced the BOD, Optiva’s shares are worth around £250K, you think CD wouldn’t have recovered what he could? Complete and utter nonsense, you got duped by the fault finding group and you haven’t even realised it yet

Bettyswollox, Optiva securities alone had over 3.9Mil shares and the group had over 45% support in the vote if I remember correctly, it’s pretty safe to say they haven’t sold out.

The reason for the current rise (this week) hasn’t been made available to us yet, with two £16K buys during the week it would seem the big investors are confident of funding being secured, if it hasn’t already.

You’re the person that is convinced the VAT refund lies solely on Shishir’s and managements hands, a quick look at the statement released by management and then a bit of research into geopolitics and the current economic status of Madagascar and you would see their statement holds up. it seems you got your fingers burnt and now hold a grudge.

Also the previous auditors confirmed the reason for resigning was solely due to being not being paid, which Shishir was upfront about. Recent pictures posted on X shows that the new auditor has been in Madagascar.

I fully understand how much of a high risk this stock is and I am not in denial over previous corporate governance failings, yet having done extensive research and with the current BOD retaining their positions in the recent vote it would seem the majority of shareholders (although not so vocal) agree Shishir is on the right path.

It’s also important to note that while we are still in an incredibly volatile position TGR is actually up 14.04% over the last 3 months having met resistance twice while threatening to drop below 4P, it looks to me that the market will react strongly once funding is secured.

Fairdealer if I thought you had any understanding of TGR other than the SP I would be tempted to bite lol

Have a quick look on google that should give you your answer :)