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I'm not really sure what the relevance of that long winded essay is... Are we saying that 2 of the proposed new directors are also eityer part of or keen followers of the Free TGR Twitter group?? Well wouldn't you expect that to be the case? It's weird that the tone of the OP on this thread is "wow look at what I have uncovered" as if some scandal or conflict of interest when it isn't.... It's like telling someone that you witnessed a man drink some water but telling the story in a style as if one of the greatest conspiracies of modern times has been uncovered...
And they post on LSE? Wow incredible stuff!! (said with sarcasm in case not obvious).... What's that? They regularly post on an unrelated companies BB??? No Way!!? That changes everything!! (again hopefully my sarcasm is coming through).
You are correct.
Even now poor corporate governance ooozes out of TGR as they don’t seem to know how to behave to a requisition. They don’t need to write pages of waffle they just need to provide a date for a EGM.
When will the FCA step in and revoke their LSE listing. Makes a mockery of the code.
Techno - you are acting as if there is any significance to what ME tells you on Monday. You should disregard anything he says and only pay attention to what he does. Lots of people have learnt these painful lessons so hopefully you don’t have to.
No buy backs yesterday?? Come on!! £15m was a pretty low ball return to shareholders so they could at least return that with some gusto!!
Half of me thinks “oh wow, just 25% of target raised, that’s desperate”.
The other half of me thinks “wow, there are individuals out there still willing to invest a combined £25k in MOS - who are these idiots??”
What’s even more sobering Broomtree is we thought at 40p we were undervalued…. And personally I would have been critical of a placing back then - shows what I know!!!
The way this has dropped now it has almost become a self fulfilling prophecy. It would take something very big to break this death march….. which admittedly if it did break then the rewards would be fantastic.
I don’t understand why they are not kicked off the Main market given they consistently to not meet the principles of governance. It makes a mockery of the kudus that should come with a main market listing. You should be able to trust that certain fundamentals and checks are in place with that sort of accreditation but clearly not.
Why doesn’t someone senior from BAT minerals join the board or a larger II investor offer a non executive member to oversee governance.
I genuinely think Shishir means well but I’m not sure how far that gets us. I also think in these type of announcements (the corporate update) that funding can’t be that “imminent” or they would wait the few days extra to announce. I don’t think we will turn our computers on on Monday to a red dot with funding sorted.
The only logical reason I can think of delaying the special divi is they would ideally like the cum div sp to be higher so the special divi is less out of whack with the share price. I suspect they know they are close to updating the market with something that might add 5-10p onto the sp and would much prefer to see our ex div price back at the 17s having paid out rather than at the 7s.
Obviously a theory and it does not tie in with waiting until 2025 for significant orders but I suspect (hope!) that this is the case.
If this was “those in the know jumping” then more than 0.8% of the company would have been traded today. Half of which will be buys so actually 0.4% of this mornings ownership has sold. Certainly large shareholders not in the know.
If they were so dissatisfied it sounds like they had enough collective holding to vote down the proposal. 79% votes for so it is the 21% only that may reduce but they have had significant number of weeks and much higher exit prices than now if this is the reason.
Best we can hope for is a distressed seller or 2 causing an irrational sp for an opportune purchase. Or at least that is my hope.
I would hate to see what this share would do on bad news
I am only repeating something I saw a poster say on X but thought it was a good point and that is reagrding the VAT receivable.... If we are desperate for cash and 100% confident of getting the VAT but unsure on timing why would we not have sold this receivable at a discount to a Factoring company. Not sure what discount we would have had to swallow but if we had got £800k for it and been able to report that in an RNS I expect the SP would be much higher than 10.5p.
Makes you wonder about the VAT receivable and what this is really worth if unable to factor it.
They hid it at the bottom of the interim RNS. £6m to be raised via CLN. I guess the one nugget of hope is we don’t know the conversion price. Optimists would have said it will be at a significant premium. I guess seeing the mass II sells today gives weight to a pessimistic argument that terms of the CLN have leaked and the terms are not great. Who knows.
One thing is for certain - no terms will be as good as if they had raised £6m when sp was 40p last summer. We would have massively moaned at the time but we didn’t have the benefit of knowing how tight cash is and therefore maybe Shishir should have done the unpopular thing for the long term health. Let’s see what debt we get….
I note that the timeline in the RNS stated the results would be announced on 11/01…. Yet here we are with no announcement. Perhaps too embarrassed by the result? I will be astounded if many took up the non discounted opportunity to pay Marks wages and fund his lifestyle further.