REG - Tirupati Graphite - Corporate Update

Tirupati GraphiteAnnouncement

10/01/2025 10:30

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RNS Number : 9307S  Tirupati Graphite PLC  10 January 2025

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10 January 2025

Tirupati Graphite plc

 

('Tirupati', 'TG', the 'Group' or the 'Company')

 

Corporate Update

 

Tirupati Graphite (TGR.L), the specialist flake graphite company and supplier
of the critical mineral for the global energy transition, announces updates to
Board sub-committee structure in order to prepare and enhance corporate
governance as part of its ongoing organisational restructuring.

 

As a result of recent Board changes, the Board has dissolved the following
pre-existing sub-committees, effective immediately:

·    Audit

·    Remuneration

·    Nomination

 

The Board has replaced them with the following Board sub-committees comprised
of the following, effective immediately:

 

·    Audit; to be chaired by Non-Executive Director, Mr Murat Erden, with
Mr Mark Rollins and Mr Christian Dennis as fellow committee members.

·    Nomination & Remuneration; to be chaired by Non-Executive
Director, Mr Christian Dennis, with Mr Mark Rollins and Mr James Nieuwenhuys
as fellow committee members.

 

 

Commenting on the update, Mark Rollins, Executive Chairman of Tirupati
Graphite said:

 

"As we progress various workstreams that face the immediate attention of the
restructured Board and executive team, we have sought to immediately address
corporate governance at the Board level by designating roles and
responsibilities among the Board to ensure oversight of the Company's affairs
in line with best practices.

 

We have positive momentum to continue the evolution of Tirupati into a leading
global graphite Company."

 

 

 ENDS

 

For further information, please
visit https://www.tirupatigraphite.co.uk/ or contact:

 

 Tirupati Graphite Plc                          

 Mark Rollins - Executive Chairman             tirupatigraphitelondon@gmail.com

 Alastair Bath - Investor Relations            +44 7356 057 265
 CMC Markets UK Plc (Broker)

 Douglas Crippen                               +44 (0)20 3003 8632
 Musst / ViTa-Connect (Financial Adviser)       tabrez@vita-connect.co

 Tabrez Khan                                   +44 746 903 3573 / +971 50871 7864

 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, with
leading low development capital and operating costs. 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 installed final production nameplate capacity of 30,000tpa, subject
to minor capex additions. The Madagascar operations produce 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          Production paused: 18,000tpa nameplate capacity
 Madagascar    Vatomina          In Production: 12,000tpa nameplate capacity
 Mozambique    Montepuez         100,000tpa permitted, construction-initiated
 Mozambique    Balama Central    58,000tpa permitted, development-ready

 

 

 

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