REG - Tirupati Graphite - Results of General Meeting

Tirupati GraphiteAnnouncement

11/06/2024 18:30

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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    37,047,069  48,574,140     85,621,209   1,781
 effect from the end of the meeting
 2.   To remove Puruvi Poddar from office as a director of the Company with     37,197,014  48,424,195     85,621,209   1,781
 effect from the end of the meeting
 3.   To remove Alastair Bath from office as a director of the Company with     37,330,423  48,290,786     85,621,209   1,781
 effect from the end of the meeting
 4.   To appoint Mark Rollins as a director of the Company with effect from     38,449,943  47,131,618     85,581,561   41,429
 the end of the meeting
 5.   To appoint Leo Koot as a director of the Company with effect from the     38,356,426  47,170,135     85,526,561   96,429
 end of the meeting
 6.   To appoint Isabel de Salis as a director of the Company with effect       38,294,509  47,287,052     85,581,561   41,429
 from the end of the meeting
 7.   To appoint Murat Dogan Erden as a director of the Company with effect     38,260,393  47,360,816     85,621,209   1,781
 from the end of the meeting
 8.   To remove any person appointed as a director of the Company since the     38,282,856  47,334,419     85,617,275   5,715
 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

 

 

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/
(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)                 +44 (0) 20 3727 1000

 Ben Brewerton / Nick Hennis / Lucy Wigney     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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