Tirupati Graphite Share Discussion Threads

[the cronk] 14/5/2024 07:29

Yet another graphite/graphene company in trouble.

Is Isabel de Salis a PR lady?

[petersinthemarket] 13/5/2024 18:23

It appears that we are using an out of date thread here.
The live thread is being run by Skiboy10.

[apotheki] 13/5/2024 16:50

There are many aspects that concern me here hence why I have now made up my mind 100% to VOTE in favour of all of the RESOLUTIONS

[hamidahamida] 13/5/2024 16:23

Poddars have destroyed shareholder value, never delivered on forecasts imo they don't know how to run a corporate company so get rid of them asap

[flc] 13/5/2024 13:04

I'm not entirely sure of the motive or timing but what is clear is a massive distrust of Poddar and how the business is being run. He clearly knows how to operate within the graphite sector but running a listed business and adhering to governance is another matter. It really is on a knife edge and could go either way but it doesn't instill much confidence for shareholders. The turning point for me was when he announced individual meetings with shareholders in London...just didn't seem protocol.

[petersinthemarket] 13/5/2024 11:42

It's gone really quiet on here - has everyone left?

I have read the published docs and I understand what the Requisition is intended to do and also the Poddars response to it, but this is a drastic move and any deeper appreciation is above my pay grade.

The current TGR business situation is clearly unsatisfactory (I hold) and, as demonstrated by the fall in the sp, has been for some time. The siuation demands attention.

However, I have insufficient experience to guestimate possible outcomes. Is the Requisition the best way to resolve the current situation? Can the Requisition succeed? What then? Etc.

I would welcome informed comment.
pete

[apotheki] 13/5/2024 10:10

I am inclined to vote in favour of all the resolutions

[flc] 13/5/2024 09:29

Lots of accusations flying around in that statement and doesn't reflect well on Poddar. They'll be lots of disgruntled shareholders reading this and thinking they've got nothing to lose by voting in a new Board. Timing of this is terrible for the current BOD as any fundraising in the background will be at a grinding halt until this is resolved and as it stands, they'll now be out of cash so interesting to see how the next few weeks pan out.

[pwal] 12/5/2024 12:42

Initiated engagement with a Development Finance Institution ("DFI") for debt financing for the proposed expansion of the Madagascar operations from the current effective capacity of 20,000 metric tonnes to 54,000 metric tonnes. Discussions have advanced with documentation and a detailed financial model prepared by the Company currently under review by the DFI.· Additionally, the DFI has expressed to our appointed intermediary its interest in potentially providing debt funding for the first 50,000tpa flake graphite project development at the Montepuez project in Mozambique.Who knows?

[jaknife] 10/5/2024 16:03

The numbers are dreadful. Why on earth would anyone put fresh equity in when the company is hopelessly loss-making and burdened with debt?

The market at the moment is terrible when looking to raise funds for loss-making companies, eg see Genedrive's raise yesterday; that was done on a pre-money valuation of just £1.7m. The equivalent for TGR would be a raise at 1.6p a share.

Given how the market is I wouldn't be surprised to find out that TGR can't raise the funds and it ends up in administration.

JakNife

[flc] 10/5/2024 13:45

It's a simple fact that if they can't raise the cash quickly then either they are toast or they have to cease all production and layoff staff :-(

[pwal] 10/5/2024 13:00

Oh boy. Need some positive news!!!!!

[sleveen] 10/5/2024 07:26

Production up 50%, production costs up circa 200%.

[flc] 10/5/2024 07:19

They don't make for pleasant reading...GP nose dived and they have run out of cash.

[pwal] 08/5/2024 11:45

Almost expect a move up.

[pwal] 08/5/2024 09:56

Very strange price action.

[pwal] 08/5/2024 07:08

So. Disappointing.

[pwal] 07/5/2024 17:11

Well my spreadsheet says tomorrow there will be news. IMHO it will be good news.I'll be disappointed if there isn't news.

[pwal] 07/5/2024 10:11

If the share price recovers aren't those subscription shares going to worth a lot more?

[pwal] 07/5/2024 08:48

IMHO Results this week.

[pwal] 04/5/2024 12:35

I got a reply to my mail which said they couldn't tell me anything until it had been released as an RN first.I was asked if I wanted to attend a meeting.

[pwal] 04/5/2024 11:08

I don't care who is in charge. Just get the share price back up!!!!!

[apotheki] 04/5/2024 10:44

Of course the requisition letter was valid [no need for expensive [paid for by the shareholders] legal advice]

The CEO/CHAIRMAN [plus no doubt other titles] is just stalling trying to buy time by talking to as many shareholders as possible to try and sweet talk them into backing him moving forwards.

Well I have news for him and that is that as with the Conservative Government people are no longer willing to give him the benefit of doubt [the share price has fallen from 150p+ all the way down to around the 5p mark] as it is clear and has been for some time now that there is a lack of any real transparency as well as corporate governance.

My advice is to back this group of underlying shareholders as change is required for sure and apart from the CEO/CHAIRMAN etc....others especially the lawyers Bird & Bird also need to be replaced.

For absolute clarity these are my own opinions and in addition I would add that I did not send this letter [but I do totally agree with it hence why I am offering my full support to it]

[apotheki] 04/5/2024 10:33

Update on Requisition Letter

Following the announcement dated 26 April 2024, the Company provides an update on the letter received from Walpole St. Andrews Nominees Ltd on behalf of a group of underlying shareholders holding, in aggregate, 6,847,813 ordinary shares representing c. 5.8% of the issued ordinary share capital of the Company (the 'Requisitioners') requesting the Company to convene a general meeting of the Company's shareholders pursuant to section 303 of the Companies Act 2006 (the 'Act').

Following legal advice, the Company acknowledges the validity of the requisition letter. The board intends to comply with its obligations in accordance with section 304 of the Act which requires it to call a general meeting within 21 days of receipt of a valid requisition and to hold such general meeting on a date not more than 28 days after the date of the notice convening such general meeting has been issued.

The Company is reviewing the letter in detail and intends to provide a full response to the letter as soon as possible. In the interim, the Directors have offered a meeting with the Requisitioners to understand their concerns in more detail and will update shareholders on the outcomes of the meeting afterwards as appropriate.

The Company remains committed to engaging with all shareholders, and will continue to do so throughout the coming weeks. Management will be available for and offer meetings with other shareholders, including through in-person meetings in London dates of which shall be confirmed shortly. Shareholders who would like to meet with management during that time are advised to contact the Company directly on email for bookings.