June 24, 2022 at 10:59 pm #14257June 25, 2022 at 12:15 pm #14261ManishBlocked User
Rathi_b it is great of you to meet the management personally … Truly give them our pain n ask them to clearly understand the hardship that it’s investors are going thru for certain non compliance issues or certain mandatory or wrong info like SHP info not correctly declared or FA issue everything is booking down on stock prices heavily n many investors have now entered stock as high as 200 which needs to be understood as management… This dragging attitude on issues which are not related to business needs to be complied immediately n results shown to public for better transparency.
All issues are vital n important when downfall is continuous
What is the status of Mediamint Acquisition
What is happening on Dividened
Pls report ASAPJune 25, 2022 at 1:39 pm #14263June 25, 2022 at 3:36 pm #14265VALUEBUYER001Registered BoarderJune 25, 2022 at 7:11 pm #14269nitin_asceRegistered BoarderJune 25, 2022 at 9:24 pm #14272JackSparrow13Registered Boarder
If I was a promoter, I would have ignored noise. I would focus on solely on business, and not share price. I know my share holding is bad, and share price can go from moon to mud depending on whims on shareholders, even though I have best corporate governance.
However, if i can maintain my business and dividend distributions (or buyback), that itself will provide a floor, however low that might be.12+June 25, 2022 at 11:06 pm #14275Rathi_bRegistered BoarderJune 26, 2022 at 6:00 am #14276chrisRegistered Boarder
Hope everything is alright, but again thank you so much.15+June 26, 2022 at 9:31 am #14277VALUEBUYER001Registered BoarderJune 26, 2022 at 12:30 pm #14279June 26, 2022 at 12:44 pm #14280myainvestRegistered BoarderJune 26, 2022 at 2:29 pm #firstname.lastname@example.orgRegistered BoarderJune 26, 2022 at 4:50 pm #14288Rathi_bRegistered Boarder
Yesterday, as representatives of this forum, we, the investors from Hyderabad, held a meeting with the CEO, Suresh Kumar Reddy. The following are the points that were discussed in our meeting with him
1. Appointment of CFO and CS.
Mr Suresh has assured us that the appointment of a CFO is his top priority and that filling that important position is in the final stages. He told us that YSR garu had been with the company for a very long time and that replacing him with someone who can fill his boots has been an arduous task and that now it is in its final stages. He told us that YSR garu is still advising the company in his personal capacity. He has reassured us that the CS appointment will also be made on priority.
2. Mediamint acquisition and its completion.
Suresh informed us that the acquisition has not yet closed and that a notification will be sent to the market as and when there is an update on it.
We had mentioned to Suresh garu regarding the exercising of this option at this appropriate time. He has told us that this is being looked into as an option as well.
4. Audio acquisition
He informed us that this is not signed yet and has assured us that the company will notify the exchanges when there is an update.
5. Shareholding misunderstandings
Here Suresh garu has strongly stressed and assured us regarding his resolve and commitment to the company and that the company will make the appropriate submissions to the Exchanges and the Regulator.
6. Forensic Audit
Suresh garu reiterated his stand that there have been no irregularities and that they are fully cooperating with the authorities. He rejected and denied any baseless rumours in this regard, and its best to wait for the final report.
7. Stock price fall in the market.
We had strongly put forth our point regarding this aspect to the CEO and asked if he is doing anything to address this fall in share price. Suresh garu has assured that this temporary setback would be abated in the near future and that the company is constantly working to increase the shareholder’s value. He assured us that the situation will get better as and when some of the above updates are sent to the exchanges.
Here he reminded us that large fund houses like the kind that had been shared to the exchanges recently have been buying into the company and has urged the long-term shareholders who have been part of the journey through thick and thin not to get rattled and stay invested.
8. Free cash flow clarification
Mr. Suresh mentioned to us that a document to clarify the details is ready and will be published by the management shortly.
Suresh garu has assured us negotiations in this regard are being held by the company and that a relavant update as and when necessary will be sent to the exchanges.
Finally, Suresh garu also mentioned that the company is in a tremendous phase of growth where the revenues have increased by over 75% in the last year. The company is targeting further growth this year and meeting the revenue projection for the current year. He reiterated his commitment to the retail shareholders and announced the bonus issue and dividend to reward them.June 26, 2022 at 4:56 pm #14289Zoro7Registered BoarderJune 26, 2022 at 5:02 pm #14290
thanks @rathi_b for your time and updating us.
Outcome of this meeting is really a great-2 depressing. Wish i could also had sold much earlier. Right from appointments to, daum(way back done deal still in negotiation, am amazed), media mint ,SHP etc.. just provided a lollipop and assurance to fix these without any concrete timeline.
extremely pathetic corporate governance, everyday i thought that a company cann’t go too low in CG after achieving large cap status, but now am damn sure our BCG will go to small cap soon. very sad to see this growth.June 26, 2022 at 5:04 pm #14291Sumeshnair2005Registered Boarder
Zoro what els you were looking for skr can give any update which he has not given to exchange … he will give thm in due course as and when it’s ready..with this meeting what we have to see is that skr decided to meet them and repatriate all these points as there is no need for him to meet thm and tell lies .. so I think just hold on and add if possible cheersJune 26, 2022 at 5:16 pm #14293Sumeshnair2005Registered Boarder
What is more is there’s body language .. can the team pls tell how confident skr was .. was he fumbling ? Was he same confident as last time you met thm ? Otherwise no company can give any update to pvt people without informing exchanges as it will amount to unfair practise .. even if thy show any new update the team cant disclose it hereJune 26, 2022 at 5:29 pm #14294odyseeRegistered Boarder
Thank you very much @Rathi_b for summarisation of your interaction with Mr Reddy.
We really cannot expect him to reveal more than whatever is in the public domain.
But I presume you came away somewhat reassured, otherwise you would have mentioned that too.June 26, 2022 at 6:34 pm #14296allenasriniRegistered BoarderJune 26, 2022 at 6:37 pm #14297ManishBlocked User
@rathi_b it seems this draft is finalised n written by Suresh Team for you … Just one simple n hard question why is Media Mint not closed even after payments done n Shares issued what is the legal hurdle. This deal was announced 6+ months n results were supposed to be incorporated this or last qtr
Why is there so much of undue delay in everything that is announced
Complete details should be given out….
Apart from that everything is in the word of Mr Suresh which is acceptable n fine but this needs detailed explanation reasoning n if it is being completed or not n if not why the monetary compensation done n equity dilute which ultimately hurts existing investors….
Another point of concern is the management ardent trader n ding inside trading or menipu laging stock proces or any group of investeren who are regular lu updated of info n is niyong at low n selling at high giving tremendous stress to long term investeren for no good reason if yes this distribution of information schools be stopped immediately to such group if any….
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