Member Info for TalygarnTom

Koovs management are entirely to blame. They didn't have to become the ASOS of India overnight, Amazon and Flipkart were already doing that. They just had to be savvy enough to survive long enough to reach break-even. The dynamics of the Indian economy would have done the rest for them.

IMO the bottom line is that this business has an E/V of £60m. Much will depend on the cost and structure of the final financing arrangements but surely any sensible arrangement that sees the business through to the levels of production anticipated would put a higher valuation on the business in the medium term.

I was replying to Chapsville86 question. “Who is permitted to attend capital markets day??” To which I replied “Woodford” because I don’t know which other fund manager in their right mind will get involved with this lot.

Woodford.

I understand the sentiment but at the end of the day you have to ask yourself if this business is potentially worth more than its current E/V of £44.9m.

I'm curious to understand why the Qatar Investment Authority (QIA) have taken a significant stake in Sirius and I posted a tweet earlier with some interesting links. https://twitter.com/talygarntom/status/1184100443716308992?s=20

https://*************************/status/1171694228864299008?s=21

https://www.***************************/fox-marble-ceo-qa-republic-of-kosovo-arbitration-claim-lonfox/412792575

https://www.proactiveinvestors.co.uk/companies/news/901391/quadrise-fuels-international-secures-funding-out-to-next-june-901391.html

https://shipandbunker.com/news/world/452667-imo2020-maersk-bullish-on-scrubber-economics

My reading is all the basic entitlement will be satisfied plus 15% of any excess amount applied for. Subject to being voted through at the EGM. Total shares tendered 19,675,000. Ordinary shares in issue will now be 187,128,659 (excluding treasury shares). There were 189.6m in 2013. A total of 33,223,743 ordinary shares will be held in treasury.

These are images of Future Supply Chain Solutions Ltd, a subsidiary company of Future Group, that operates as a listed company in its own right. https://bit.ly/2MZkitE

https://www.prnewswire.com/in/news-releases/fsc-indias-first-fully-integrated-it-enabled-end-to-end-supply-chain-solutions-by-future-group-ships-over-1-million-garments-every-day-641956193.html

29/07/19
"The Company also confirms that Inbal Lavi, currently Chief Executive Officer of XLMedia's wholly owned subsidiary, Webpals Systems S.C.Ltd ("Webpals Systems"), has resigned from Webpals Systems in order to pursue other business interests. The Board would like to thank Inbal for her contribution and wish her the best for the future." https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/XLM/14165855.html
01/01/19
"Tel Aviv-based marketing company Webpals Systems S.C Ltd. has appointed Sheila Kagan to the role of CEO, the company announced Wednesday. Kagan is taking over the role from Inbal Lavi, who has served as CEO for the past five and a half years."
https://www.calcalistech.com/ctech/articles/0,7340,L-3767461,00.html

If Ory is doing what I think he is doing then this is going to get very interesting. I don't think that big tech funds have come knocking on the door by chance.

Ex CEO.

I think the fall in the share price is related to these two paragraphs:

Emission Norms
The Indian Government has notified revised compliance standards for emission norms of thermal power plants across the country to be effective in a phased manner up to 2022. The Company is well placed to comply with the new standards by incurring required capital expenditures in a staged manner over next three years. Implementation of emission reduction program will also require shut downs for each of the four units over FY20 and FY21 and therefore the Company expects plant load factors at Chennai to be around 70-75%. The Company is evaluating various technologies with a view to be fully compliant to the revised emission norms by the stipulated timeline.

Dividend
The shutdown of Unit 4 for three months impacted FY19 cash flows and considering the additional capital expenditure and lower expected PLF with respect to implementation of the emission reduction program, the Board has decided to conserve cash for these proposed obligations and has declared a full year scrip dividend of 0.6p per share (FY18: scrip dividend of 1p per share), subject to approval by shareholders at the Company's Annual General Meeting.

There are a couple of paragraphs worth noting here that will make a significant difference to the long term valuation.
1. "We will continue to use the strong cash generation of our existing operations to repay our debt and we aim to be debt free by the end of calendar 2023."
2. "With the Group paying up to 13 per cent interest on its bank debt, the Board believes that maintaining focus on improvement in operations and deleveraging will provide the best returns to shareholders."
13% is significant. If they also reach a point where the pay a cash dividend that starts to become a very healthy return on investment.

https://www.managementtoday.co.uk/british-marble-start-up-cracking-kosovo/growing-businesses/article/1587931

eshaitan - Did you know that the person (or persons wife) with whom Fox are in dispute over Malasheva is the brother of the largest shareholder?

For what it's worth I've looked into this in detail and people like McGrath4046 have got the wrong end of the stick. I would suggest that they go and read the admission documents in which Rexhep Shaqiri and his royalty rights are clearly outlined. So it should hardly come as a surprise that when talk of 40 quarries and the emergence of Stone Alliance come into view (a portion of which will be owned by Fox Marble and it's shareholders) that a number of other parties (some political) decide they want a piece of it.