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mining|operations

Tirupati confirms Lynch-Bell’s appointment as chairperson following EGM

12th June 2024

By: Darren Parker

Creamer Media Contributing Editor Online

     

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Flake graphite company Tirupati Graphite has confirmed the appointment of Michael Lynch-Bell as nonexecutive chairperson, following a shareholder-requisitioned extraordinary general meeting (EGM) on June 11.

A group of shareholders, who hold about 5.8% of Tirupati’s ordinary share capital, in April requested that the company convene an EGM. These shareholders were seeking the removal of then chairperson Shishir Poddar, as well as Puruvi Poddar and Alastair Bath as directors.

They, instead, sought to have Mark Rollins, Leo Koot, Isabel de Salis and Murat Dogan Erden appointed to the Tirupati board.

The requisitioning shareholders had expressed concern about the resignation, earlier in the year, of various directors from the Tirupati board.

In response to the concerns expressed, Tirupati in May acknowledged that its board structure and composition were not ideal and it committed to taking urgent steps to appoint a new nonexecutive chairperson, other nonexecutive directors and a CFO for the company.

This was followed by a May 31 announcement that Lynch-Bell had been appointed nonexecutive chairperson, but conditional on the outcome of the June 11 EGM.

Tirupati on June 12 confirmed his appointment as chairperson, as well as that Shishir Poddar would remain CEO.

“I believe the company's underlying investment case is strong and has significant opportunities for future growth,” Lynch-Bell said.

"[Lynch-Bell’s] significant experience as an independent director at several listed, large-scale and growing mining businesses, combined with his strong background with EY, will provide the company with the skills and experience needed to achieve its long-term objectives,” Poddar added.

Tirupati owns operations in Madagascar and Mozambique.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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