Tirupati Graphite has officially appointed Michael Lynch-Bell as its non-executive chairperson following a shareholder-requisitioned extraordinary general meeting (EGM) held on June 11. This development comes after a group of shareholders, who collectively hold approximately 5.8% of Tirupati’s ordinary share capital, requested an EGM in April. Their primary aim was to remove the then-chairperson, Shishir Poddar, along with directors Puruvi Poddar and Alastair Bath, and to appoint Mark Rollins, Leo Koot, Isabel de Salis, and Murat Dogan Erden to the board instead.
These shareholders had voiced concerns about the resignation of various directors from the Tirupati board earlier in the year. Acknowledging these concerns, Tirupati admitted in May that its board structure and composition were suboptimal and pledged to take immediate action. The company committed to appointing a new non-executive chairperson, additional non-executive directors, and a CFO.
On May 31, Tirupati announced the conditional appointment of Lynch-Bell as non-executive chairperson, pending the outcome of the June 11 EGM. Following the meeting, Tirupati confirmed his appointment on June 12, while Shishir Poddar retained his role as CEO. Lynch-Bell expressed confidence in the company’s prospects, stating, “I believe the company’s underlying investment case is strong and has significant opportunities for future growth.”
Shishir Poddar highlighted Lynch-Bell’s extensive experience as an independent director in several large-scale and growing mining businesses, along with his strong background with EY, as invaluable assets for achieving Tirupati’s long-term goals.
Tirupati Graphite operates in Madagascar and Mozambique, further solidifying its presence in the mining industry.
Tirupati Graphite PLC (LON:TGR) is a fully integrated specialist graphite and graphene producer, with operations in Madagascar and India. The Company is delivering on this strategy by being fully integrated from mine to graphene. Its global multi-location operations include primary mining and processing in Madagascar, hi-tech graphite processing in India to produce specialty graphite, and a state-of-art graphene and technology R&D center to be established in India.
