“Shareholder activism is not a privilege - it is a right & a responsibility. When we invest in a company, we own part of that company, &we are partly responsible for how that company progresses. If we believe there is something going wrong with the company, then we, as shareholders, must become active &vocal.” Mark Mobius
Please vote in favour of the resolutions proposed at the general meeting of Tirupati Graphite plc to remove the current board and appoint new directors.
The proposed directors are happy to answer any questions - email them at hello@freetirupati.com.
Why?
Concerns loom over TG's leadership and governance with Chairman & MD Shishir Poddar at the helm.
A string of events and choices has eroded shareholder trust, resulting in a palpable downturn in market performance and company valuation.
Mr. Poddar's dual role as MD and Chairman fosters an environment where decisions pass without scrutiny, and potential conflicts of interest remain unaddressed.
The absence of independent non-executive directors (NED) violates QCA regulations, which stipulate their presence to safeguard impartiality and oversight.
Despite a GBP5 million infusion in 2021 to streamline downstream business operations, owned by the Poddar family, progress remains stagnant.
Funding woes cast doubt on TG's future viability, painting a grim picture of its prospects.
How much lower can TG's share price drop?
How much lower can TG's share price drop?
Meet the Proposed Directors
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Mark Rollins
NON-EXECUTIVE CHAIRMAN
Senior energy/resource industry executive; experienced non-executive director in both public and private markets in the international arena.
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Leo Koot
NON-EXECUTIVE DIRECTOR
Leo has +28 years of industry and financial experience having held various directorship positions with both private and public oil and energy businesses worldwide. Previous roles include Managing Partner of MENA Gulf Investment Partners (Abu Dhabi), President of Abu Dhabi National Energy Company (TAQA) and MD of TAQA UK.
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Isabel de Salis
NON-EXECUTIVE DIRECTOR
Isabel has c. 25 years’ experience guiding companies from nascent ideas to full maturity, through IPOs, fundraisings, expansion, and eventual sale. She also built her own IR/PR business and has held various NED roles; she was previously an independent NED on the board of Tirupati Graphite - resigned in February 2024.
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Murat Erden
NON-EXECUTIVE DIRECTOR
Experienced CFO and NED with international experience in private equity, listed and pre-listed technology and resources companies. Results-oriented, decisive leader, with proven success in establishing a lasting presence in debt & capital markets, private equity, and enterprise solutions, identifying growth opportunities and initiating strong business alliances. Previously an independent NED on the board of Tirupati Graphite – resigned March 2024.
We believe that the proposed directors will prioritise and endeavour to take the following actions:
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1. Revise TG’s Corporate Governance Framework:
a. Establish clear independence between the roles of Chairman and MD to ensure a balance of power and enhance corporate oversight.
b. Strategic recruitment including a Chief Financial Officer with proven experience in publicly listed companies.
c. Create a high-calibre advisory committee with extensive knowledge in the relevant sectors and regions to provide strategic insights and guidance.
d. Initiate defined reporting procedures including KPI definition and adherence for onsite operations and overall corporate performance.
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2. Address Related Party Transactions and Conflicts of Interest
a. Adopt a transparent approach to managing any conflicts of interest, including cessation of all transactions with entities related to Mr. Poddar and his family, unless conducted under transparent and fair terms.
b. Conduct thorough investigations into previous conflicts of interest to ascertain if transactions were executed favourably, particularly concerning the integration of downstream businesses.
c. Cultivate a culture that rewards merit, participation, and contributions, effectively aligning employee interests with corporate goals.
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3. Address Liquidity Issues and Optimise Capital Structure
a. Arrange a borrowing capacity to manage payable crises, restore commercial reputation, and invest in delayed capital expenditures (Capex) to optimise short-term operational capacity.
b. In the medium term, pursue funding opportunities to enhance operational capacity and maximise returns.
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4. Execute the Offtake Strategy
a. Seek partnership opportunities with entities not currently associated with the company, focusing on expanding the downstream business.
b. Explore sustainable downstream business strategies for building or acquiring opportunities to secure and enhance the value chain.
c. Seek downstream business partners that would further facilitate financing and development of the upstream assets, particularly the Mozambique resources.
OUR MISSION
