Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
JTF I agree with you that the significance of the salary cut date is tied to the offer deadline however I don't think we will hear in early August, if we do it's probably bad news!
JP was very clear in the FSC recently that offers would only be RNS'd when they were recommended to the shareholders and that this would only be AFTER a SPA was agreed between the parties. So I would expect the evaluation of offers to take a couple of weeks and the SPA will take a minimum of a month in my estimation so I think September is the earliest we can hope to hear......unless they have been doing any of the work in the background which is a possibility.
GLA
I disagree testpack. There is only an appetite amongst some on here, many of them probably aren't holders and all of them have an agenda. Getting rid of JP now would be a ridiculous thing to do.
The marketing process will be over soon and we are likely to see the outcome in the Autumn so judge him at that stage.
Please 'recommend' this post if you think JP should stay, lets see what most posters really think.
GLA
Why do so many people continue to post doom and gloom on this board even after they have sold out? Is it FOMO? If you sold out you most likely incurred significant losses so why come back and gloat about the price now?
Some pretty sick people about, they don't bother me personally but they really ought to take a look at themselves in the mirror.
I haven't sold out btw, I still own loads of shares and have been topping up, too many posters ignoring what we already have in the bank, we may not have won the speedboat but we aren't going home with just a set of darts and a Bully statue.
GLA
Anyone know when this is due out?
GLA
JTF I agree with you and posted as much earlier in the week. I don't think the reduction in salaries commencing 1st August is random, I think it is linked to the marketing timeline and I suspect the deadline date is 31 July for offers.
My concern is that JP said at the FSC that the first we would know would be an RNS recommending an offer AND that this would only be after the SPA was agreed.
I have very limited experience of SPA negotiations and in a totally different sector, I would imagine in O&G with such a complex asset that the SPA will take some considerable time. If anyone on here has any industry experience of this (Exploration might know?) their insight would be gratefully received.
GLA
Diver are you Constable Savage?
Last time I checked there was nothing illegal in selling shares while hyping up your company. What Laws do you think he broke? 'Looking at me in a funny way?' 'Procession of sharp suits and ties''treading on the cracks in the pavement'
...but but he's a villain sir!
GLA
Lossgain sorry to hear your news. If only JP had delivered you could have moved out of GY. I managed to get out last year,many a happy time spent driving West on the Acle straight, many not so happy times driving East.
And there I was thinking Jez had it bad living over the chip shop. There's always somone worse off!
Good luck anyway.
Been trying to calculate value of current gas but there's too many '000 for me, and apparently we have about 0.5 Quad of BTUs (worth $8 each) WTF is a Quad !Either way we have a **** load of gas!
Someone (Shaun or JTZ) posted a calculation of the value last week, can anyone point me in the direction of that post please?
GLA
Trellis often posts when he is inebriated, looking at some of today's posts I think he has set a pattern for posting after taking mind changing substances!
GLA
I very much doubt that whoever bought in to the placing will be flipping their shares anytime soon.
I'm pretty sure whoever bought them knows much more than we do and is happy enough to now sit it out to LE. I'm sure they have a very good idea what the LE price will be otherwise they would have wanted a bigger discount than 5% knowing that the placing would have a impact on the market price.
I suspect we are now in a closed period as when the presentations start that must be considered market sensitive information? You couldn't present to Shell and Repsol and not consider that price sensitive, equally you couldn't sit around with no one to present to and not consider that price sensitive!
Nothing has changed for me 50p+
GLA
GLA
'Only a stupid can sell at this price, even if they do not prove anymore gas, the value of the proven assets with a Gsa at 8 should be more than 0,30 + value of the licenses + Sidi mortar'
Zero what has changed in your opinion? You said the above not that long ago. how come Eastern Morocco is now only worth 5-10p when the GSA is further advanced and the pressure has increased to make current gas easier to recover. Why the complete change of heart?
GLA
Medi this 'City Banker' from Rochdale did he tell you he was on 'hundred grand a year mate' and is he still living with his parents? If so I think he is a character from the Fast Show.
GLA
No insult intended JTF. I am just perplexed by your sudden change of heart? Recently you have been very positive about this share and now all of a sudden it is about to be nationalised?
I for one still believe in my prediction of 50p+ and actually nothing that happened yesterday changed that view in fact quite the opposite, my frustration is that I think this shows that JP is just like all the other AIM CEOs and I am onvinced this is him letting folks in at 10p when they know they will make a 5 fold return whereas the rest of us have to risk our money based on the crumbs of information he decides to share on that particular day.
I saw yesterday's news as confirmation that this will be sold, why you think someone would put in over £2m without being pretty sure they will get a good return, let alone let it be nationalised is beyond me.
GLA
Methinks JTF may be trying a bit of trading on SOU. Thought about doing it myself until yesterday's raise. the daily pattern and the trading range was calling out for quick day trades to either increase holdings or make a few quid but yesterday's raise dropped us below the 10p support so its not so clear atm.
GLA
End of the marketing process and deadline for bids hence the reduction in salary, all the presentations will be complete not much to do for many of them but hand over to Rothchilds to evaluate etc.
Yes I think there is many positives to take from today. Firstly JP thinks 10p is a good price to get in. It also shows that the end to this fiasco is coming relatively soon. It also shows (if further proof were required) that for all his charm and charisma JP is a typical AIM CEO.
We need further details about this placing, it was not an 'open' placing and it would be interesting to know who took it up. My only wonder if I am being generous to JP is whether he had any choice? He has good relations with the MG and sometimes in Africa you have to do things to maintain those relationships. Or maybe it was the Swiss/Italian branch?
Going back to the Panorama program about BP in Senegal the other week. Sometimes to get the wheels moving they need a bit of grease.
Malcy's job. All he does is repeat the RNS words in a slightly different order and post it as his 'expert' opinion on the situation.
What a clown!
Be interesting to see the TR-1(s) when they arrive. Who bought these shares? Obviously this was lined up with the BOD otherwise why pay so close to the market rate, if you wanted to buy shares at 10p why not buy them in the market? This is someone close to the BOD who wants 23m shares and is close enough to the BOD to say 'how about issuing me 23m shares and you have the cash for cashflow?' They already have enough cash for over 12months of operating costs so why raise just £2.3m?
Why reduce salaries from 1 August? why not immediately or why not announce it at FSC?
This stinks of 'mates rates' placing, letting in on the cheap prior to sale.
At least we know 10p is a good price!
Just to give the contrarian view, maybe this signals that the sale will be complete by August and that the placing shares were heavily over subscribed by goons in the know!
Either way this stinks!
Who took the placing shares? F&F?