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Results of General Meeting

11 Jun 2024 18:20

RNS Number : 0405S
Tirupati Graphite PLC
11 June 2024
 

 

11 June 2024

Tirupati Graphite plc

 

('Tirupati', 'TG' or the 'Company')

 

Results of General Meeting

 

Tirupati Graphite (TGR.L), the specialist flake graphite company and supplier of the critical mineral for the global energy transition, announces the results of its General Meeting held earlier today.

 

The Company announces that following a poll of shareholders, all resolutions were put to the meeting by the requisitioner group of shareholders and were not carried.

 

Details of the votes relating to each resolution are contained in the table below.

 

RESOLUTION

VOTES FOR

VOTES AGAINST

VOTES TOTAL

VOTES WITHHELD

1. To remove Shishir Poddar from office as a director of the Company with effect from the end of the meeting

37,047,069

48,574,140

85,621,209

1,781

2. To remove Puruvi Poddar from office as a director of the Company with effect from the end of the meeting

37,197,014

48,424,195

85,621,209

1,781

3. To remove Alastair Bath from office as a director of the Company with effect from the end of the meeting

37,330,423

48,290,786

85,621,209

1,781

4. To appoint Mark Rollins as a director of the Company with effect from the end of the meeting

38,449,943

47,131,618

85,581,561

41,429

5. To appoint Leo Koot as a director of the Company with effect from the end of the meeting

38,356,426

47,170,135

85,526,561

96,429

6. To appoint Isabel de Salis as a director of the Company with effect from the end of the meeting

38,294,509

47,287,052

85,581,561

41,429

7. To appoint Murat Dogan Erden as a director of the Company with effect from the end of the meeting

38,260,393

47,360,816

85,621,209

1,781

8. To remove any person appointed as a director of the Company since the date of the requisition, up to the end of the meeting and who is not one of the persons referred to in the Resolutions numbered 1 through 3 (inclusive) above, as a director of the Company

38,282,856

47,334,419

85,617,275

5,715

 

 

Shishir Poddar, Chief Executive, commented:

"We are very pleased to have maintained the ongoing support of our shareholders, who understand the significant opportunities ahead for the Company, led by the current management team and Board of directors. Following the results today, as previously announced, Mr Michael Lynch-Bell assumes the role of Non-Executive Chairman, and I move to Chief Executive, with immediate effect.

 

"With the General Meeting now behind us, the Company remains focussed on our long-term ambition of providing 8% of the world's global flake graphite demand by 2030, maintaining our step by step growth strategy in sync with the evolving markets for this critical mineral. We look forward to updating stakeholders further on this and our wider financial and strategic progress over coming months."

 

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

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 

 

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END
 
 
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