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Pin to quick picksTirupati Graphite Regulatory News (TGR)

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NOTICE OF REQUISITIONED GENERAL MEETING

14 May 2024 08:19

RNS Number : 3303O
Tirupati Graphite PLC
14 May 2024
 

14 May 2024

Tirupati Graphite plc

('Tirupati' or the 'Company')

 

NOTICE OF REQUISITIONED GENERAL MEETING

 

On 23 April 2024, the Company received a requisition letter (the "Requisition Letter") from Walpole St. Andrews Nominees Ltd on behalf of a group of underlying shareholders holding, in aggregate, 6,847,813 ordinary shares representing c. 5.8% of the issued ordinary share capital of the Company (the 'Requisitioners') on the receipt date. The letter required the Company to convene a general meeting of the Company's shareholders pursuant to section 303 of the Companies Act 2006 (the 'Act') to consider resolutions to remove Shishir Poddar, Puruvi Poddar and Alastair Bath from office as directors of the Company and to appoint Mark Rollins, Leo Koot, Isabel de Salis and Murat Dogan Erden as directors of the Company.

 

Accordingly, the Board is today posting the Notice to shareholders (the "Circular") convening the requisitioned General Meeting for shareholders which is to be held at the offices of Bird & Bird LLP, 12 New Fetter Lane, London EC4A 1JP on Tuesday 11 June 2024 at 3.00 pm (GMT). A copy of the Circular and Notice are available on the Company's website (https://tirupatigraphite.co.uk/) under the tab COPORATE NEWS AND DOCUMENTS (this tab is in the INVESTOR CENTRE section of the Company's website).

 

The Board unanimously recommends shareholders VOTE AGAINST ALL Resolutions.

 

The Company recognises that its current board structure and composition must be addressed to ensure it returns to QCA compliance with the appointment of wholly independent directors as soon as practically possible. The Board is taking urgent steps to enhance this and is seeking the appointment of a new Non-Executive Chair, Non-Executive Directors, and a CFO.

 

Replacing the existing Board would deprive it of critical sector and business knowledge, access to intellectual property and relationships. The proposed directors have neither the sector skills nor experience to navigate the complex and specialist graphite sector. Their appointments would be value-destructive to the Company's prospects and would not bring true independence to the board.

 

Shareholders are strongly encouraged to read the Company's full response posted on 13 May 2024 to the requisition letter that provided a full response to the issues raised by the requisitioners. A copy can be found at:

 

https://polaris.brighterir.com/public/tirupati_graphite/news/rns/story/rnd5zkx

 

 

ENDS

 

 

For further information, please visit https://www.tirupatigraphite.co.uk/ or contact:

Tirupati Graphite Plc 

Puruvi Poddar - Joint Managing Director 

 

admin@tirupatigraphite.co.uk 

+44 (0) 20 39849894 

CMC Markets UK Plc (Joint Broker)

Douglas Crippen

 

+44 (0)20 3003 8632

Optiva Securities Limited (Joint Broker) 

Ben Maitland - Corporate Finance 

 

+44 (0) 20 3034 2707 

 

FTI Consulting (Financial PR) 

Ben Brewerton / Nick Hennis / Lucy Wigney 

 

+44 (0) 20 3727 1000 

tirupati@fticonsulting.com 

 

 

About Tirupati Graphite

 

Tirupati Graphite Plc is a specialist Graphite producer and a supplier of the critical mineral for a decarbonised economy and the energy transition. The Company places a special emphasis on green applications including renewable energy, e-mobility, energy storage and thermal management, and is committed to ensuring its operations are sustainable. 

 

The Company's operations include primary mining and processing in Madagascar where the Company operates two key projects, Sahamamy and Vatomina with a combined 30,000 tpa of currently installed capacity, producing high-quality flake graphite concentrate with up to 97% purity and selling to customers globally. 

 

The Company also holds two advanced stage, world class, natural graphite projects in Mozambique. Work has already commenced to optimise the economics for development of the Montepuez graphite project, which is permitted for 100,000tpa production and where substantial construction work has already been undertaken by the predecessor. A table of the Company's projects is provided below: 

 

Country  

Project 

Stage 

Madagascar 

Sahamamy

In production: 18,000tpa capacity

Madagascar 

Vatomina

In production: 12,000tpa capacity

Mozambique 

Montepuez 

100,000tpa permitted, development-initiated 

Mozambique 

Balama Central 

58,000tpa permitted, development-ready 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
NOGGRGDUUBBDGSS
Date   Source Headline
10th Oct 20248:27 amRNSCorporate & Operations Update
13th Aug 20247:00 amRNSOperations and Progress Update
1st Aug 20248:04 amRNSSuspension of Listing pending Financial Report
1st Aug 20247:30 amRNSSuspension - TIRUPATI GRAPHITE PLC
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10th Jul 20247:00 amRNSUpstream Flake Graphite Development Strategy
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12th Jun 20247:00 amRNSConfirmed Appointment of Non-Executive Chairman
11th Jun 20246:20 pmRNSResults of General Meeting
5th Jun 20247:00 amRNSResponse to Campaign by Requisition Group
31st May 20247:00 amRNSAppointment of Non-Executive Chairman
24th May 20243:33 pmRNSShareholder Meetings and Q&A
16th May 20247:00 amRNSShareholder Q&A
15th May 20241:52 pmRNSBroker update
14th May 20244:15 pmRNSDirector/PDMR Shareholding
14th May 20244:13 pmRNSDirector/PDMR Shareholding
14th May 20244:11 pmRNSTR-1: Notification of major holdings
14th May 20244:09 pmRNSCorrection - PDMR/Director Dealing
14th May 202410:46 amRNSPDMR/Director Dealing
14th May 20248:19 amRNSNOTICE OF REQUISITIONED GENERAL MEETING
13th May 20247:00 amRNSResponse to Requisition Letter
10th May 20247:00 amRNSUnaudited Full Year 2024 Trading Results
7th May 20249:31 amRNSIssue of Subscription Shares &Total Voting Rights
3rd May 20249:26 amRNSUpdate on Requisition Letter
26th Apr 20242:15 pmRNSReceipt of Requisition Letter
22nd Mar 20247:00 amRNSAppointment of Joint Broker
20th Mar 20248:00 amRNSPDMR/Director Dealing
18th Mar 20247:00 amRNSBusiness Development Update
11th Mar 20247:00 amRNSMadagascar Exploration Update
8th Mar 20247:00 amRNSGlobal Graphite Outlook
7th Mar 20247:00 amRNSDirectorate Changes
7th Mar 20247:00 amRNSCorporate Update
29th Feb 20243:37 pmRNSDirectorate Change
5th Feb 20247:00 amRNSDirectorate Change and Corporate Governance Update
17th Jan 20242:29 pmRNSResignation of Joint Broker
17th Jan 20247:00 amRNSSuccessful Equity Placing
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18th Dec 202310:45 amRNSIssue of Consideration Shares - Correction
18th Dec 20237:00 amRNSIssue of Consideration Shares
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16th Nov 20233:55 pmRNSAppointment of Joint Broker
26th Oct 20235:37 pmRNSAnnual General Meeting Statement and Result
25th Oct 20237:00 amRNSNon-Executive Director Appointment
23rd Oct 20238:52 amRNSInvestor Presentation via Investor Meet Company
23rd Oct 20237:00 amRNSStatement on China’s Graphite Export Restrictions
19th Oct 20237:00 amRNSOperation and Trading Update
3rd Oct 20234:00 pmRNSNotice of AGM
3rd Oct 20238:00 amRNSDirectorate Change
3rd Oct 20237:37 amRNSNotification of major holdings
7th Sep 20234:21 pmRNSInvestor Meetings

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