Specialist graphite producer Tirupati Graphite says its directors have offered to meet with shareholders who have requested a general meeting be held to allow shareholders to vote on the removal of three directors from the company's board.
The company, which has operations in Madagascar and Mozambique and is listed in London, on April 26 reported having received a letter from Walpole St Andrews Nominees, on behalf of a group of underlying shareholders holding, in aggregate, about 5.8% of Tirupati's issued ordinary share capital.
The shareholders requested the company convene a general meeting of shareholders to vote on resolutions to remove chairperson and MD Shishir Poddar, joint-MD 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.
In a May 3 update, Tirupati says its directors will meet with the shareholders seeking to understand their concerns in more detail. The company intends to also provide a full response to the letter as soon as possible.
The directors have also offered to meet with other shareholders and say they remain committed to engaging with all shareholders.