[m4max1979]

As I have said many times before on this forum, being a long term investor I have gone through many phases when promises were made and forgotten, so it is hard for me to believe anything until it actually happens. However, what has happened in the last 40 odd days in terms of continuous presentations, notices and actual movement with respect to outstanding issues along with price appreciation, I feel that things are moving in the right direction. And as I mentioned earlier, with respect to company reaching its deserved valuation, sooner or later we will get there.

[m4max1979]

Notice on bse site regarding recent sale by institutional investor:

https://www.bseindia.com/xml-data/corpfiling/AttachLive/cf0e41de-820a-4fb8-a20c-3de3cb15be86.pdf

My take, basically the company is saying not to panic, company has value and sooner or later we will get there.

[m4max1979]

Nice to see that most of the boarders on this forum have kept their calm in the wake of last few days of price movement. I am sure all of us are concerned about where the cmp might go from here and what Oak will do now. Observation from my side, Oak has not sold yesterday and today as it would have reflected in bulk trade on the exchanges, so their is still uncertainty on what the arrangement is for Oak. I feel that Oak is not going to sell in the open market now because at this price, selling nearly 3 cr shares in damn near impossible without creating a panic and creating a panic is going to help them in any way. I think that management has already got a buyer or is certain to get a buyer and the trade would happen right around next board meeting.

As for Oak leaving this counter at a loss, I do not believe it for a second. If PE firms start investing in companies for 10 yrs and then leave quietly at a significant loss at the end of it then nobody would trust them with their money. I am sure they have made money from BCG in the last 10 yrs. I do not know how but I am sure they have or else they would have been putting a lot more pressure on BCG from last year itself when court order came regarding daum.

[m4max1979]

Do not bother sending them emails because they never reply. At least they have never replied to my emails and I have sent them dozens of emails so far. And yes I agree it takes a lot of struggle by the company to even achieve the littlest of things. I am not sure how many people will agree with me here but the company has dug itself such a big hole in the last five years that now they themselves are finding it difficult to get out of it.

[m4max1979]

Presentation showing the numbers in USD. Does this indicate that global consolidation is complete?

[m4max1979]

BCG is in ASM long term now. Last time I remember it lasted for nearly three months. I suppose it will be the same this time.

[m4max1979]

My observations on March 31, 2020 SHP:

1. Promoter and FII/FPI holding remains the same.

2. Banks and FIs have sold their 6.55 lakh shares

3. Individual shareholding has increased from 14.48 crs (30.4%) to 15.44 crs (32.4%). It includes another large investor Geeta Patheja along with Praveen Khurana. Total individual investors reduced from 28337 to 28147.

4. NRI stake increased from 4.79 crs (10.06%) to 4.93 crs (10.37%). It includes Priya Prakash and Prabhakar Reddy. Total NRI investors reduced from 485 to 477

5. AKG stake has reduced from 1.87 crs (3.93%) to 1.23 crs (2.58%)

6. UNO stake has reduced from 2.06 crs to 1.94 crs

7. Goenka securities stake remains the same at 1.28 crs

8. Edelweiss securities stake is zero from around 50 lakhs

9. Overall Bodies corporates including AKG, UNO, Goenka Sec., Edelweiss etc. stands reduced from 5.9 crs (12.39%) to 4.9 crs (10.3%). Total entities reduced from 264 to 256

10. Others like trusts and clearing members are more or less the same.

[m4max1979]

Yes BCG has moved out of ASM – ST effective April 23, 2020, as per notice on BSE website today. Hope circuit filter changes to 20% next month followed by announcement by company regarding pref shares, daum, axis debt, dividend etc.

[m4max1979]

I had written to the investor relation cell of BCG for sharing updates on the recent investor call and any development on pending issues with us through the exchanges. Hope they reply soon and hopefully share the March 31 SHP by next week.

[m4max1979]

Dear Admin,

I appreciate your efforts to keep nuisance away from this forum. Its better to have a silent forum rather than have somebody coming here everyday writing long speeches as if the existing investors do not know the value of their investment. I guess we have finally managed to have some sanity here as the objective was to share information about developments in BCG.

On the information front, I dont know if you guys have seen that BCG is in ASM-ST which is for 5-15 days with circuit filter of 10%. Hope this gets over soon and we get some good news on the Axis and Daum front.

Regards,
Max.

[m4max1979]

Guys could you add this question to the list:

The company had conducted an internal audit by E&Y during the time when whiteoak was considering a loan of USD 150 million. Has E&Y completed the internal audit and does the company plan to publish the same?

[m4max1979]

Guys I do not think Axis Bank loan is cleared since there is no Loan closure letter from the bank so far and there is no update on MCA. Moreover, when Axis already has pledged shares of the promoters then why will it settle and close the loan. I understand that it will take time but could be as early as March 2020 as Banks are in a rush to pump their numbers BUT that too would happen only when Axis and BCG reach an agreeable settlement amount.

[m4max1979]

Trying to make sense from this notice. Does it mean that negatiations have broken down with daum and the issue is still open or does it mean that daum has finally been sealed with own funds. If that is the case then issuing pref shares for debt repayment does not make sense as it is a small amount.

[m4max1979]

Notice out on bse regarding pref shares.
https://www.bseindia.com/xml-data/corpfiling/AttachLive/9854d907-5281-4eae-be26-5d5e8f89796e.pdf

[m4max1979]

Yes it does sound good and possible. I would just like to add group restructuring complete by 31/03/2020.

[m4max1979]

Thanks 108BG, I saw that notice a few times yet missed this part about shareholder and exchanges approval prior to issuance of shares.

[m4max1979]

Hey Guys, I have a few queries and hoping to get some answers here.

1. Since BCG board has already approved allocation of preference shares and the same has been communicated via exchanges, is it necessary for the company to send notice for postal ballot again which we are hoping would divulge the purpose and name of investor. Even if they do send a notice, then is it necessary for the company to divulge the purpose of issuance preference shares or name of investor?

2. In the scenario where the company does not provide any information, does approval through postal ballot mean that now the company has to necessarily allot the preference shares within a short period of time? If yes, then how much time is normally given to the company?

3. Once postal ballot is over and investor puts the money, is there a timeline within which the company has to deploy the funds as per purpose mentioned by them?

4. Is the organizational restructuring that the company has been talking about since August last year really going on? Input from someone with contacts within the company would be great.

[m4max1979]

Scrip is in T2T segment now. I doubt it will come out so soon.

[m4max1979]

They have not officially communicated the purpose for which the dilution is happening but that is anybody’s guess. That being said atleast the new investor(s) would definitely know the purpose and I think will ensure that their money is utilised at the earliest for the said purpose. So in my opinion if the money is being raised for daum settlement process then the same should be settled by next month end.

[m4max1979]

Board meeting is on 20th so I guess postal ballot should be done and by mid january I guess. Well it is all a matter of speculation as far as BCG is concerned but I hope they close all pending issues by March, 2020 so that investors get to see their target price by next diwali at least. I actually hope to see at least book value or even half of book value by march. Keeping fingers crossed, praying actually.

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