[kpal]

Guruji 108. Till yesterday no disclosure was given only verally on con call matters were mentioned & Today’s disclosure says it clear & Loud unless construed the other way round that which should not e the case & I for one can confidently say that oth PMO office & ED will give a clean chit as & When the investigation gets complete in all respects & It might e in the offing & Might come in sooner then you & I can think off. Putting a rake on the mental pedal is important now. Rein in the over drive mode. Cheers!!!

[sateanna]

One interesting thing happening is the receivable financing, this is most probably to increase the cash flow…However the dividend policy is omitted.

[Lycos_Investor]

Not sure what you mean by dividend policy is omitted

[108BULLGURU]

Dividend policy has already been put in place and announced.
few months ago.
If LOC comes against receivables imagine net free cash flow
and hence the dividens too even if it is 15% of free cash flow to start with.
Rememeber if they announce 50% dividend BCG only needs around 50 crores to pay that.
which is nothing against a net profit of 450 crores or so..

[acerforce]

time will tell how market took this announcement – certainly the promoter wanted to give support to the share price, hence timely announcement.
How market really takes it would be shown if 7.5 is broken or not this time, hoping it is broken and share price goes much higher than 10…fingers crossed..

[Odysee]

BG108, I do not know from where you got the idea that an audit by one of the big 4 firms will take only one to one and a half months to cover 18 plus separate companies in different countries ( subsidiaries though they might be). This was not a regular annual audit being conducted by an existing auditor who has been familiar with the business of the various companies and their books of account etc. This , I presume, has been a new venture, where the business of each entity has to be understood, records and books of account perused and studied, and then a thorough review and test conducted to arrive at and comment on the state of affairs of the company and it’s financial results. In subsequent years the time taken may well be less as familiarity with the business and the books and records will come into play. In my opinion, a little patience is called for as this is an immense exercise being conducted, and neither the audit firm nor BCG would want a half- baked job done. The other point to be kept in mind is whether the audit is for the 9 month period ended 31st December 2019 or whether it would cover the full financial year ending 31st March 2020. Then the audited results can only be declared post that date. You may well get an interim special audit report though for the period up to 31st December 2019 of the consolidated accounts if that is a requirement for the Line of Credit or financing against receivables, but then we are in the realm of speculation here. We all have been extraordinarily patient for many years now, hence a couple of months extra is an indulgence we can be generous with. Regards.

[108BULLGURU]

WHY COMPANY NOT GIVING FULL INFORMATION AND HIDING.How long it will keep doing
The disclosure is incomplete and is making fool of the markets again.
Why company does not realize that it is a public limited compnay and disclosueress have to be full and complete.
Some questions re INCOMPLETRE DISCLOSURES.
1.
Why the amount of Daum settlemement is not disclosed.
2. why payment schedule of Daum settlemeent is not disclosed.
Are they waiting for the agreemenet to be signed.
3.
Why the name of legal advisors not disclosed.]
4,
Why the name of the auditors doing global audit not disclosed.
5. why time lines not givem.
6. why timelines keep on getting extended and not being held to.
7. There are so many questions to which we dont get answers as shareholders or are promised answers to be provided later on .
But that never ever happens.
Same applies to sale of shares and pledged shares.
U can keep on adding.
Some one got to tell the management it is not a street corner pan shop owned by local business man and run as a family business.
BCG is a public listed company with operations in 20 or so countries with 2500 crores plus turnover and has around 30000 small retail investors.
We need and we want answers on all those issues.
It is the responsibility of the BCG management to do so.
You know what happened with PO announcement and how there was hardly any information.

[Better call S]

World class companies always show transparency in their activities and even update all the stakeholders in case of negative forecast or even in downturn.
What investors need from the management is to keep up their assurances and promises. I think bcg management is very bad in time managing and keep on postponing missing deadlines.

[Logicalspeak]

All investors so far were giving long rop for the management on the context of daum settlement, which was not fully in the hands of company alone as the other party is involved.Now the latest update shows some respite and hope that once that out of court settlement agreement if and when signed ,from that point onwards the company will start doing things transparently and also the timeline for every thing will completely will be in the hands of management (if any exist). If after that also timeline is not nmaintained, investors can approach appropriate forum/authority as disclosure of audited financial results of subsidiaries are not a favour or mercy investors are seeking from the management, but the same is a legal and mandatory requirement to be fulfilled as per the listing agreement with the stock exchanges.Hope things will improve from the out of court ssettlement agreement signing and subsequent closure of the case in New York court.

[Odysee]

Very aptly put Logicalspeak. But the questions posed by 108BG are very rational and have crossed my mind multiple times. The responsibilities and disclosure obligations by the management of a public listed company have to be clearly understood by SKR and his board, and duly acted upon in a timely manner. This is particularly relevant to price sensitive developments. I would urge the management of BCG to very seriously reflect on this and adopt leading best practices of interface between management, the shareholders and regulatory authorities.

[Rajeshmk71]

I feel SKR is purposely not disclosing too much . Once the datum issue is out of the way then he will go all out to repair the image of his company and himself .

[Logicalspeak]

I request all investors to wait till the final closure of case in N.Y. after out of court agreement signing as all these years we waited for that giving benefit of doubt?. Now from the last update it is evident that signing is imminent (inflection point as he said).Therefore let us wait for this impediment (daum) is over once and for all , as he may be untying the knots around him he himself tied and if any precipitation we make at this point will be coming on his way of untying the complicated knots he himself tied around him.So I will give time up to middle of May 2020. Even after that if things don’t change let us all demand with appropriate forum for delisting by giving us at least consolidated book value of share prise and let them run the company as their private company. I Know many who anticipate the intrinsic value in high three digit may NOT agree with my view.

[108BULLGURU]

Well we dont mind SKR delisting BCG provided he pays the same monbey as vlautions of AFFLE which is one tenth the size of BCG and has very limited operations.
AFFLE SELLS AT 65 TIMES ITS BOOK VALUE .That places a value/price of 4200 rupee on BCG and affle sells at90 times its EPS. So that makes for a proce of 900 for BCG.If we consioder other parameters too then valuations of BCG come way in front of AFFLE.
He can pay us 2000 rupee per share and delist.
If he tries to delist and pay a lower amiunt we will have the option to refuse and take it to the court which will give delisting price closer to AFFLE PRICE at bare minimum. There is precedent of that in the Indian marketrs and indian courts which when intervened then the companies were made to pay astronomicl prices.
So hang in there friends. SKR makes more money by keeping it listed and making markets deliver its fair value.

[Logicalspeak]

Yes, if u go I can also join party in that, all the best.

[108BULLGURU]

I certainly will if he tries to delist and pay pea nuts.
All will be welcome to join.

[Shoumik]

Forget delisting.

We are there not to let that ever happen without we getting our dues as Bullguru elaborated.

Cheers.

[108BULLGURU]

precedents are that first exchanges bumped up the delisting opffer price when shareholders disagreed and they went to court.
Court gave an astronomical price and company coughed up that amount.
So rest assured that is not happening.
This stock when fully healed is above 20 USD.
That can happen before the end of 2020 if SKR wants it.

[Logicalspeak]

I am happy that , my one comment triggered this discussion and it should go to the management for instilling a cold chill their spine.
Cheers to everybody.

[108BULLGURU]

If SKR plays his cards right and does not muck it up,
iam looking at NYSE listing in 2021 or at the most 2022 .
So forget delisting as Daum will be out of pictrue soon.
SKR owns most of BCG with his mates any way.

[Shoumik]

I will tell you my own experience when in was a novice and just started our with my investment career in 2002.

In the year 2002 i had purchased 400 shares of Godrej Industries at a price of rs 17 and the face value at that time was 6. My total investment was rs 6800.

Then within few months a letter reached me from Godrej industries saying that they want to delist. They were offering rs 18 as buyback.

The respected family that godrej is I believed and gave away my 400 shares. The share never got relisted.

The price slowly started to increase and the face value became 1.

If i had kept those 400 shares they might have become 2400 shares after face value revision. And the price of this rupee 1 face value share became rs 300.

That means my 2400 shares would be worth rs720000.

My investment of 6800 could be 720000 within few years.

Not to be because of the fraud promoter scheme of delisting .

This shall never be allowed to repeat.

Telling my story is to make our retailers aware that if Reputed families like godrej group could do such injustice we have to be extra cousious here.

Cheers.

[Author]

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