[tanv151]

@vgsatwork

I can still see the Kalpana & Sarita’s transaction on NSE PIT and BSE SAST respectively.

To all,

It is really painful to see how our investment value declining rapidly. Thanks to the management that is not willing to even accept of falling share price on the shareholders, let alone taking any actions to arrest it or solve the outstanding issues. Is it time for us to take some concrete steps (whatever we can) as the management doesn’t seem to take any responsibility. I like @radhutheoptimist suggestion of forming an association, and I am in.

About requesting SS to become a BOD to represent us is worth giving a shot. However, I strongly feel we should have a plan b too. I request everyone to pitch in and give suggestions. It’s high time we all came together to make some collective efforts to safeguard our investment, whatever is left.

[tanv151]

One of the investors got this confirmation from SKR.

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[tanv151]

Everyone wants @Rathi_b to post details of the meeting but let’s understand two points here

a) No promoter can give information (that can impact the share price) to anyone/group directly. This needs to done only through the exchanges
b) This is a public forum and posting any details can be termed as buy/sell recommendations, let alone the other sensitive angle which I am sure all of us understand as
There are a few important points mentioned on his post if we pay attention:

Thank you all for bearing with us, we had to move our meeting with SKR to today as he was travelling internationally last week and we have had a long chat concerning many of us investor concerns, we have left the premises with a feeling of confidence that Brightcom is dealing with all the aspects in the most effective way it can.
It was pleasing to see all the new hires in the office. And SKR is very optimistic about the business right now and the growth prospects it throws up in future.

The first point (of course in my personal view) could answer why SKR couldn’t attend the TGS event last week and more importantly he made time to meet the Hyd Group as soon as he was back in country. How many promoters give audience to retail investors?

Second point – Why would anyone write ‘left the premises with a feeling of confidence’ if they were not convinced with the discussion?

Third point – Could act like a confirmation to the announcement made by the company with regard to the new hires

Again others might interpret his post in a different way. Everyone is entitled to have his/her own opinion.

disclaimer – this is not a buy/hold/sell recommendation. Please do your research or take advice from a SEBI registered financial analyst/advisor.

[tanv151]

@Anandji,

If I am not wrong this is an old news. If you see the posted & updated date on the link you have shared you will see the date as 2012-08-10 09:54, therefore I believe the part payment that is mentioned here is nothing but the first payment was made by Ybrant Digital then.

[tanv151]

@whyShares ji,

You bring up a good point and I would like to give my point of you on this if that’s okay.

It’s a game of willingness, FII and others who are increasing their stakes, they are doing it because they are willing to put in the time and effort to continuously research on this stock, and whoever has the will, they will figure out the way to find resources to get more info. Like the popular saying “Where there’s a will, there’s a way”.

You would be surprised to know that off the 3.79 lakh shareholders,
ONLY 72 shareholders attended the AGM through video conferencing
ONlY 6.77 crore of public votes polled (in other words just 6.77 crore shares)

We see so many people voice out their support/concern about BCG on a daily basis using various platforms. However, not even 1% of the overall shareholder population show up on AGM, let alone conference calls. It is important for everyone to join these meetings to raise the concerns or provide feedback to the management. It is as simple as, if you have a problem with someone then ‘TALK to the person instead of talking ABOUT that person’.

Another thing I noticed was, off the 6.77 public votes 26% were against the re-appointment of Mr. Vijay Kancharla as the BOD. This is a great indicator of what shareholders think of his visible involvement and contribution.

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[tanv151]

I would like to add the below to the list of questions.

a) Shed some light on 44ventures and its management team. How and why they are associated with Brightcom Group? Lakhs of shareholders purchased BCG shares in the last year and half and they will hugely benefit from this info.

b) How are we utilising the money that was raised for Mediamint acquisition and what impact it has made to the overall business?

c) Please provide free cash flow guidance/estimates for the remainder of the financial year

d) Does the number of locked in shares shown on the SHP include bonus shares?

e) Timelines for purchasing shares for ESOP?

[tanv151]

@Yogi appreciate your message. Please note the group “HYD group” is already a sizeable team and we haven’t made any changes to it since the first meeting in 2020. It wasn’t an easy task to build rapport with SKR and to win his trust, in order to share our collective views of this forum with the BCG management and get updates.

At this point in time, I believe making any changes to it, will only result in opening the floodgates as many will like to become part of it and more importantly, we are not sure if BCG management will like meet a larger group. Please note the number of shareholders have grown multifold in the last one year.

Thanks for your understanding and support!

[tanv151]

Number of publishers crossed 50k mark as per Adauth website. Hope this will have a meaningful & positive impact

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[tanv151]

@DH.. Here is the link to NCLT order, per which the funds raised thru issuance of Pref shares are blocked. Please refer to the details on the last page.

https://nclt.gov.in/sites/default/files/July-Interim-Order-pdf/Doc045888.pdf

I agree with you that BCG management, wait SKR to be precise has played with shareholders long enough. It’s about time we all got together to took some action to get our dues. 33cr is nothing compared to the LOC value. So, I suggest (if I may) let us all focus on getting LOC details confirmed, if take necessary action to get the announcement out by the management. This should give the required kick to the share price.

I would be happy to join anyone who is looking to sort things out. Can’t sit and wait for SKR to show mercy.

[tanv151]

Thank you, @manas18goel! Really appreciate it.

[tanv151]

@manas18goel I just called Aarti after reading your post, to check on the dividend and they confirmed it has not been paid yet and will take some time.

Given all that is going on, are you able to provide any details relating to dividend being credited to your account? By no means I am trying to question authenticity of your post but many people posted similar messages on various forums. So trying to bridge any gap out there and bring everyone on the same page. Thanks in advance

[tanv151]

Such a sad state of affairs.. so many promises but no action. SKR’s way of operating has jeopardised so many peoples’ reputations who vouched for him at some point in time.

This whole situation reminds me of one of my posts in Sep. For those who may want to read it, post number is #8499. We discussed options to change the way things are done. Below is the excerpt from that post..

“We have seen more misses than hits when it comes to SKR sticking to his words.
So, I am trying to see what options we have which enable us to work with the management, especially SKR to ensure issues get fixed in a timely manner and shareholder’s interest is given adequate priority.

1 – Continue to remain patience and hope SKR will mend his ways? For how long?
2 – Complain to the regulatory bodies? If my memory serves me right, one of the investors claimed he raised a complaint long ago but we haven’t seen any action/impact
3 – Meet SKR as a group (in person) to raise issues and verify details that he has been open to disclose if we meet in person? This option was discussed early this year but people who were inclined towards this step were requested to give SKR some more time to fix things. Is it a good step to take now?”

And we chose to take the 3rd step i.e., meeting SKR in person. Thanks to the group that came forward to make it happen, we did see positive impact on the back of this step. I strongly believe it is time to explore all the options available in front of us and make this an important point of discussion.

Many have raised complaints using SCORES and we know what we can expect from this. We (HYD delegation) tried reaching SKR to get the latest update but no luck yet. So what next??…

– Wait and watch again? I am sure not many want to do this, considering the time we have spent waiting for things and critical deadlines like dividend pay out being missed.

I request everyone to put their views here…

@DianaHorton – I understand you had asked people to reach out to you if they had any info. Do you have a plan to fix this issues, just checking? It is fine if we can’t get into the details on this public forum.

[tanv151]

What if the both Axis and BCG have agreed on a particular amount to close this case and SKR has the signed agreement? He would have learnt from his mistakes, I am sure.

If one agrees it is possible, then the obvious question would be ‘why did Axis’s lawyers not admit it in 18th Jan hearing? Instead they said, they haven’t received any instructions from their client i.e., Axis.’

Now put yourself in judges position, would you not ask for the agreement copy if both the parties said they have arrived at a settlement amount? BCG saying we have reached the solution and Axis lawyers saying they don’t have instructions could be a game plan to indirectly push the matter to another date, with the hope that warrants will get approved by then.

Just some food for thought… As much as I dislike the warrants issue, I want it to get approved asap, so the other issues can get resolved. Yes, the warrants are going to dilute the value largely, but even that diluted value is going to be in multiples of the current market price.

[tanv151]

@vgsatwork dividend will be paid on or before Jan 25th. Please see below, extract from the Annual Report.

7. The Company has fixed Monday, December 21, 2020 as the ‘Record Date’ for determining entitlement of members to receive final dividend for the financial year ended March 31, 2020, if the same is approved at the AGM. Payment of Final Dividend, as approved, shall be subjected to deduction of tax at source, and the net dividend, will be paid to eligible shareholders on or before January 25, 2021.

With regard to exchanges approving warrants, last time NSE took longer than usual due to missing document like PAN Card. I hope BCG management has learnt their lessons and submitted all the documents this time. If so, we should see an update in a week or two, unless exchanges need more details apart from the standard ones.

For Axis, I don’t think there is much to worry about. If you see updates given on NCLT doc and on Conf calls, it is quite evident that both the parties have agreed on a specific amount to settle this case. This has been kept on hold so BCG can cite this as one of the reasons to raise money through warrants issue.

[tanv151]

@vgsatwork Thanks for your post. It is very much in line with the explanation SKR gave us during our meeting last month. Many things are lined up that should push the CMP at respectable levels and may be beyond.

We should see a series of announcements as soon as exchanges approve the issuance of warrants. BSE approved the preferential issue on 8th day after the voting date, so I am hoping their approval on warrants should be received soon.

[tanv151]

@Admin – Does it makes sense to move all the warrants related to posts to ‘General discussion’ thread? If not create a separate one, for future reference, just in case.

@Logan, @bitran and @odysee – LOC is a done deal. SKR is a smart man, way too smarter than we can expect. He is simply trying to increase promoters’ holding in the process of bringing a new wealthy & stable investor thru this warrants issue. The quantity and the price fixed for this issue is no doubt disappointing. However, I am sure this is all part of a bigger plan. This is just one of the many surprises he is going to throw at everyone. I expect a series of announcement to come our way. There’s a saying, “Work for Tatas and invest in Reliance” and that said for a reason. He always kept everything in his control and will continue to do so.

[tanv151]

@ramganesh1982 I know many people like to think that all the remaining pledged shares are with Axis and they will revoke them once this issue is fixed.

However, I don’t think Axis has any or at least don’t think they have a sizeable portion of BCG pledged share with them and below are my reasons to think this way:

– Axis would have easily recovered their money by selling the pledged shares in the market, especially when the share price went to Rs.13. This is the easiest option compared to auction of some property or taking BCG to court, both requires a lot of efforts and money (lawyer fee etc..)?

– Did we see any circulars from SBI, Canara or BCG to prove the pledged shares were released by these banks?

– Why SKR has never opened up about the pledged shares even though this question was raised many times on different Conf calls?

– Even the lot that was last revoked (27lakh shares) was not done by SBI/Canara

As always, this is just my view and I am more than happy to correct myself if someone can share details to establish the point that Axis has most pledged share if not all.

I am writing about this as you have raised a specific question. Otherwise, I don’t think there is anything to discuss here with regard to the pledged shares. Irrespective of with whom the shares are pledged with, BCG management is headed in the right direction to get them revoked. They may choose to do this silently just like how they reduced the overall pledged quantity by 50%.

[tanv151]

Finally NCLT has uploaded the details of 19/11 hearing. As per the document uploaded we have enough to believe BCG has paid 5.5 crore to Axis in the recent times. Both the parties have been asked to conclude the settlement discussions by next hearing I.e., 12/18

[tanv151]

@Logan, I think TTD getting such amazing level of valuation is great for the entire adtech community. You have already shared a ton of details comparing TTD and BCG. So even if we take a highly conservative valuation of 1% of TTD share price, BCG is good to trade around Rs.600 per share.

Once the LOC is confirmed, it will act as a certificate confirming the legitimacy of BCG, it’s business and numbers. Needless to say it will also take care of the Daum.

These things put together should help remove doubt in people’s mind who are on the other side of the fence as of now. Good days ahead…

[tanv151]

Dear all,

Further to our in person meeting with SKR on Oct 5th, we have sent an email to SKR today for a follow up meeting on Nov 3rd as we want to close the loop on some of the outstanding items agreed in our last meeting.

We are hopeful that SKR will honour our request and meet us on Nov 3rd.
We will keep you all posted on the progress. Wish us luck 🙂

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