[vgsatwork]

@odysee

Both in the case of Sarita Commosales LLP and Kalpana Commosales LLP transactions that are figuring in the exchange filings, management should come forward with clarification, if they feel that the data reported in the exchange is inaccurate, especially after few people reached out to the management regarding this.

I was hoping to see an official clarification from BCG, but there is none. For all you know, mangement might be thinking that these are small matters that does not require an official clarification and would have left it as is. But it is such neglect from the management that is destroying investor confidence and eroding our wealth in this counter. It wouldn’t have taken more than 15-20 minutes of their time to put out an official clarification, yet they chose not to do and let the uncertainty linger on.

Financial institutions and Mutual Funds that have invested in BCG have primarily done so due to its inclusion in Index and since these passive funds track the index, they are staying on. Because these funds are passive in nature, they are also not questioning the management on transparency/Corporate Governance matters.

[vgsatwork]

This is link to news item in Business Standard from Last year when SEBI ordered Forensic Audit in BCG.

https://www.business-standard.com/article/news-cm/sebi-orders-forensic-audit-of-brightcom-group-122030100275_1.html

Quoting from the article,

“….The market regulator has said that it found discrepancies in the disclosures by BGL that could be detrimental to the interests of investors and securities markets….”

Given all these seriousness, one would expect BCG Management to err on the side of caution when it comes to disclosing to Shareholders through exchanges. Let us wait and see if we get a clarification (The only other alternative way of getting a confirmation on the shareholding is that we have to wait for the Q4 SHP, which would not be published for atleast another month) in another day or so.

[akkithegrt]

Management should act now,buyback is the only option that will work,and it would get time to close the other issues till then.Guys we have to convey management for buyback or else single digit is not far enough.

[akkithegrt]

Every day, BCG is creating records by moving at a 52-week low. If it continues to go this way, I think it will definitely hit an all-time low this month.

Either we do nothing and see the price fall to 52-week lows, or we at least try to convey sleepy management’s intention to buyback at least 2 percent.

[Brightspot]

@akkithegrt, I think borderers are happy with brightcom performance , so no support on your warning!! lets wait for single digit then

[Logan]

Different people react differently, some people try to put more pressure, some give up and stop putting efforts. We can’t expect everyone to follow the same approach. Everyone here is frustrated with the price and the attitude of the management but like I said before, we have done whatever we can (be it complaining to sebi, talking directly to management in conference calls, sending 100s of emails, calling numerous times to the IR, some have visited the company and spoke directly with the management). If all these hasn’t changed the management then there’s nothing else we can do.

[Logan]

In every conference at least one or two investors have asked about buyback and the CEO has replied the same. What will he say if we ask again?

Only way now is to convince the FPIs and Mr.Shankar Sharma to put pressure on the management. Apart from that I don’t think there’s any option.

Or appoint a board member who represents all retail investors. How do we find the right person ? Will all investors trust him/her? Suppose 1 lakh shareholders get together and legally (with sebi’s blessings) nominate a board member and what if other 3 lakh investors don’t like that person and disapprove?

Even if everyone agrees, who will take the initiative? What if the people who took the initiative to appoint sell their shares midway? Who pays the salary to that person?

It’s all complicated.

[radhutheoptimist]

Someone has stolen money from you. You approach the police but don’t get any help. But you know the thief’s house. What do you do next if you are desparate… Won’t you go to his house and shout?

Looks like ‘Chalo Hyderabad’ and ‘ThooThooSKR’ is the only option left to retail.😫

[Logan]

Whatever we do, we have to do it in a legal way (with sebi’s blessing). So appointing a board members who looks after the interests of all the retail shareholders is the best option.

I’m not sure Mr.Shankar Sharma would agree for this but he’s the best person for this. He understands both the business and the market and understands retail investors’ pain.

[Nikhilraj]

Management is taking zero effort in the favour of retailers. With out any major announcement with solid proof is the need of hour . Keeping quite is not the right way . We should showcase our protest against this negligence either online or offline

[Brightspot]

I will agree with Logan , we dont have problem appointing Mr Shankar Sharma as Board member , he is Market veteran and probably bring in positive vibes among the investors, question is how and who would consult him or convince him to accept that position?@logan @admin do you have any suggesting in this regard?

[akkithegrt]

Online is better, but it should be in thousands. Twitter, Mr. Shankar Sharma, and media houses will be better platforms. If possible maximum should communicate with the media house. Write mail, call them, and tag them on Twitter, do whatever is possible

90 percent fall without a reason is not possible. Lets together try this before it is too late

[vgsatwork]

It has been 4 days since the concern regarding the SHP w.r.t Kalpana Commosales and Sarita CommoSales and no notification/official clarification to exchanges to refute the report from the management, despite this issue was raised on the very same day by few investors.

Heartbreakingly one has to assume that the promoter has sold these 10.4 crore shares in Sarita CommoSales, which could mean that the Q4 SHP could have more surprise on the downside w.r.t promoter holding. I don’t understand as to why they are hell bent on keeping the price so low by not using any of the immediately available leverages in their hand..

1. Buy back shares with current cash in hand

2. Close Daum and announce final closure/settlement and publish all subsidiary audited results without any redacting anything

3. Buy from market for ESOP

4. Do reverse merger to reduce the # of free float shares (changing the face value from 2 to 10, which would reduce the total # of shares drastically to 40 crore shares from 200 crore shares)

All these decisions could be taken by them without batting an eyelid and that can help fall the arrest of the share price.

[kmr003]

@Logan

To appoint a board member from retail investors side, @admin , shall we collect the number of shares and name of person, we will have proof to show BCG mgmt and we are ready to travel Hyderabad office to meet BCG mgmt to discuss on same / will take Hyd team help

We will have strength as no of shares and persons to show proof.

OR Can we have petition in https://www.change.org/petitions , we will have no of votes visible there, to show Shankar Sharma sir , SKR ?

I do’t think BCG is working towards creating value for investors. Cannot see single action from them from last 1 year

[Logan]

The main reason the market is punishing BCG is because of lack of actions from the management. Had they completed DAUM or released audited reports earlier or bought back shares, it wouldn’t have been this bad.

Securekloud which got a negative fa report and it’s CEO and directors were banned for 3 years in capital market has fallen less than BCG. That company’s management people have admitted to committing fraud.

Man industries, another company which is under FA is higher than the price when the FA was announced. It fell a little when fa was announced but is higher than that price.

BCG has done very well in growth yet it has fallen the most.

Even after sharing audited reports there’s no comfort. The reason is that the reports were shared too late.

Unless and until the management shows that they are serious about the company, the market will keep punishing.

[Brightspot]

Im sure without any aggressive steps SKR will not act, Bonus issue is classic example for that, https://www.change.org/petitions looks good for me, @sandeep sir, what is your opinion on it? @kmr003 thanks for the suggestion

[Logan]

@kmr003,

I suggested Mr.Sharma only because he’s the perfect person for the job as he understands the business well and is an expert on market related things but I don’t think he’ll be interested. I don’t think he has been on any company’s board till now (Maybe he has but I’m not aware)

Appointing a board member is very hard and complicated because it involves many things and lakhs or thousands of people. We have to do everything in a legal way and should take sebi’s approval. We need to consult lawyers who can guide us. Who pays lawyer fees and other expenses?

One group may say that the appointed person will work only for the group that appointed him/her. How do we get almost every investor to agree that the selected person is right for everyone?

If it was a single entity (or a big investor) which owns good number of shares then fine as they appoint someone who looks mostly after that entity’s interests but with so many investors here, it’s very complicated.

Initially I thought Mr.Acharya coming on board and becoming an employee would change things for good but he’s also more interested in the business and technology and less interested in valuation.

My health has not been good since 1.5-2 years so it’s hard for me to take any initiation but I’m open to suggestions. We may have different opinions but we all want the same thing so we should forget our differences and come up with plans that help everyone and which is legal.

We all wouldn’t be talking about all these or taken this much stress if the management acted quickly and if they were shareholder friendly.

Right now what I think is it’s better to put pressure like investors did recently. That made the management to act quickly and release audited reports of subsidiaries. We should send thousands of mails to ir everyday, call them thousands of times which will irritate them and just to stop us do that everyday they may act quickly on many issues.

[akkithegrt]

@logan adding to your message, we all have to write mail, and tweet to everyone(Mr. Shankar Sharma/SKR/Mr.Peshwa/media channel)

Only together we can!

[Brightspot]

later we can see if he can agree to it or not, but we can initiate change org and collect 2000 signatures

[akkithegrt]

Every
@BrightcomGroup every investor should tweet :
Wakeup@suresh_66

Guys kindly retweet atleast 5k tweets should be there for trending in top 5 tweets,start now,i have done it.

[Author]

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