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Coming from such a senior industry figure and someone to be reckoned with, who can come in as TG’s first genuinely independent chairman, this comment still excites me, he sounds confident and we know he’s able given his track record:

Michael Lynch-Bell, incoming Non-Executive Chairman, commented:

"I am extremely excited at the opportunity to be joining the Board of Tirupati Graphite. The Company's underlying investment case is strong. Long-term growing demand for critical commodities such as graphite, which support the clean energy transition, is unquestionable. The Company's opportunity to be a leading supplier outside China and thus provide a geopolitically secure supply of graphite to a global customer base gives it and its shareholders a unique opportunity. Whilst the Company faces a challenging market for financing, I am confident it will successfully manage this and other challenges with the appropriate governance framework in place. I will not hesitate in providing to the Company all insight, access to my network and connections for the executive team to achieve the company's objectives."

Still amazed by this. The relationship looks pretty good, no doubt Michael has seen the serious potential of the company. I really hope we shareholders can stop this requisition group from destroying the company. I think this sort of appointment is just what the company needs for its future. Just look at the comments in the RNS for the two head honchos:

Shishir Poddar, current Executive Chairman and Managing Director, commented:

"We are delighted to announce the appointment of Michael Lynch-Bell as Non-Executive Chairman. This demonstrates our commitment to enhancing the Board composition with wholly independent, highly experienced, and appropriately skilled operators. Michael's significant experience as an independent Director at several large-scale and growing mining businesses, combined with his strong background with EY, provides the Company with access to vital skills and experience. He will undoubtedly help steer the Company well on its journey to achieve its considerable potential. With this appointment becoming effective, the Board will work under his leadership and guidance to progress the planned future independent director appointments."

Michael Lynch-Bell, incoming Non-Executive Chairman, commented:

"I am extremely excited at the opportunity to be joining the Board of Tirupati Graphite. The Company's underlying investment case is strong. Long-term growing demand for critical commodities such as graphite, which support the clean energy transition, is unquestionable. The Company's opportunity to be a leading supplier outside China and thus provide a geopolitically secure supply of graphite to a global customer base gives it and its shareholders a unique opportunity. Whilst the Company faces a challenging market for financing, I am confident it will successfully manage this and other challenges with the appropriate governance framework in place. I will not hesitate in providing to the Company all insight, access to my network and connections for the executive team to achieve the company's objectives."

Very impressive reading, what a catch for TGR! Can anyone sensible oppose this? After that trade data I was glad I voted against all the resolutions now I’m very happy I did.

Taken from the RNS below this is too good for the Company. I’m really hoping all the resolutions are defeated as they just aren’t in the interests of the company and us shareholders it’s now clearer than ever. Surely this validates the company’s strategy by having such an established figure clearly recognise what the potential is.

Mr Lynch-Bell brings extensive experience across various sectors and business disciplines, particularly governance, mining, and finance. He spent a 38-year career with Ernst & Young ('EY'), where he led its Global Oil and Gas, UK IPO, and Global Oil and Gas and Mining transaction advisory practices. Since leaving EY, he has developed a strong board career, including his position of Deputy Chair and Senior Independent Non-Executive Director of the then FTSE250 large-scale blue-chip mining organisation, KAZ Minerals.

He is currently a Non-Executive Director and Chairman of AIM and TSX-listed Serabi Gold Plc, a Non-Executive Director of London-listed Gem Diamonds Limited and Independent Non-Executive Chairman of ASX-listed Little Green Pharma.

The appointment of Mr Lynch-Bell illustrates the Company's commitment, as previously announced, to enhance its corporate governance by appointing high calibre, experienced and independent directors onto its Board of Directors. In addition to the traditional roles undertaken by a Non-Executive Chairman, Mr Lynch-Bell will be closely involved in all Company efforts to enhance its corporate governance, including oversight of the programme to recruit additional independent directors. He will also, along with forthcoming new board appointments, oversee and monitor all related party transactions to ensure they meet best practice guidelines and continue to offer best value for the Company and its shareholders.

The appointment is conditional upon the current Board remaining in place following the forthcoming general meeting of shareholders. It would therefore take effect after the close of the general meeting on 11 June 2024. Upon Mr Lynch-Bell's appointment, Mr Shishir Poddar will retain the position of Chief Executive Officer.

Bloody hell just reading now. Michael Lynch-Bell is a very well known name, even I’ve heard of him. Genuinely solid appointment, back to reading the RNS now this is amazing for TGR

You’re right James it just amalgamates data from across the internet

Thinking more about this I’m very glad I’ve seen this data. It further supports my reasons, which had been intuition more than anything until now, for voting against the resolutions completely and now my mind is at ease. It has given me greater caution against listening to anyone who would support such proposed actions that seems like it would only be to such detriment against the company and against normal shareholders by supporting a competitor already in a privileged position to undermine the company.

Will be interested to see how FTG can defend their actions by working with the brother and their claims given this data. Thanks again.

Quite remarkable data to see after what we have been led to believe by the requisitionists, thank you for sharing. Paints a very clearer and different picture.

Very good

It’s a tax and all governments absolutely love their tax, of course it must flow through them, being sensible isn’t the priority of a lot of governments unfortunately

VAT is payable by any operating company right, so when a company pays a supplier for anything the VAT makes up part of the total price. The VAT is paid by the supplier to the government and is then claimable back by the company which has purchased whatever for use in its business. Pretty sure you only pay VAT on sales but can claim back VAT on thing purchased for use for your business. Obviously the Company will have domestic suppliers it pays for fuel for example which is where some of the VAT would be reclaimable from etc. In the UK VAT refunds are repayable quarterly and are a bit more reliable, supposedly!

HarChris I have liked the way you post on the whole and definitely understand your reasons for selling out and posts, as another concerned but still current shareholder myself. But just on this VAT issue you raise this was actually written about in an RNS recently I made a mental note of it given what everyone was saying around the matter, even still and shows how much actually gets missed. Clearly in March they had a high degree of comfort VAT would be returned to some extent but it just goes to show how out of their control it is that they didn’t receive it.

From the trading results RNS:

· Following the Madagascar electoral period and assurances the Company received in March 2024, the Company expected the imminent return of VAT funds. As at 31 March 2024 the value of outstanding VAT due to be returned to the Company in Madagascar stood at above $2 million (£1.65m).

Also agree Mhow, doesn’t give me much faith, I already voted against the requisition proposals and so far all I see is a continuation of before, maybe worse from this new group

If I may join you guys Akhtar & HarChris, basically you’re saying Shishir shouldn’t have given any guidance while a working capital shortage overshadowed him is what you’re saying I think so missed targets could have been avoided if production fell short as no such targets would have existed.

Sorry if I’ve missed this bit but if it wasn’t the working capital shortage, what was it that resulted in missed targets?

That’s in response to several posters.

I have voted against all the resolutions as while frustrated I don’t see the proposed directors possessing the mettle or know how to move the dial here unfortunately so have backed the horse I see with the most to genuinely lose and the most aligned to come out with something to build and able to build in such a niche space ie the current board. Suppose it’s all a risk now. Just don’t see anything to suggest the proposed group can or would do anything, even from their histories that gives me confidence in what happens here long term if they are successful.

Good points

Agree Saluc on the whole

Thought the IMC Q&A was quite good all things considered. Very comforted to see just how much there is actually on the ground in that video, a far cry from what some have claimed on here and elsewhere is meant to be basically non-existent. The pre-concentrate units looked particularly novel but interesting.

Again on top of the RNS clarifications recently I was grateful for some further clarifications related to related parties. Encouragingly there seems to be a commitment to getting TG into the downstream. I’m perplexed this has taken so long in any fashion.

And good to hear they’ve been advancing talks for new directors and CFO. Imagine if they had been able to appoint people without having this requisition in place, again a reason I believe the FTG group chose their timing carefully but deliberately. And Again a reason I don’t believe the requisition group and their own related parties/interests they represent carry the true interests of shareholders in their hearts.

Company just did a tweet this evening that some US government representatives have been to the projects site, pretty interesting timing if you ask me following the US tariffs on graphite.

My vote is still against the resolutions. Still to be convinced otherwise, and some questionable tactics online not helping the FTG group cause.

The tariffs announced by America this week are going to have a big knock on effect for critical minerals and Chinese supply chains. Vanadium is one the US has been looking at for a long time and think IES is well positioned.

Glad to see there’s a Q&A meeting soon with the current board.

I’m very concerned what’s been happening behind the scenes given information that keeps on coming about and has been alluded to. It does feel and I increasingly am thinking that there’s been a prolonged concerted effort against the company from multiple connected quarters and apparent conflicts etc, and if there has been, is there scope for shareholders to take action against those who have caused losses incurred for the rest of us as a result of all this mess?

Also wondering if it is still possible for some compromise before the GM or does the GM just proceed regardless?

So many questions

Well looks like they are going through to the GM. Was a middle ground sought?

The conflation of the parties and manner of this all still has me voting against the resolutions. Governance is a key pillar but this approach is all wrong, and seeing the likes of posts below only reinforces my view.