REG - Tirupati Graphite - Directorate Changes

Tirupati GraphiteAnnouncement

07/03/2024 07:00

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RNS Number : 9038F  Tirupati Graphite PLC  07 March 2024

 

7      March 2024

 

Tirupati Graphite plc

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

 

Directorate Changes

 

 

Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist flake graphite
company and supplier of the critical mineral for the global energy transition,
announces that, as part of an ongoing process to freshen and strengthen its
Board of Directors, the following changes are being implemented:

 

●     Ms Puruvi Poddar and Mr Alastair Bath will join the Board in
executive roles.

●     Mr Murat Erden has resigned as a Non-executive Director with
immediate effect due to personal reasons however, shall continue as a Senior
Advisor to the Board.

●     The establishment of an advisory board of which Mr Erden will be
the inaugural member.

●     Search has commenced for two Non-executive Directors to join the
Board with one appointment having experience of the mineral processing
industry, to progress Corporate Governance reforms.

●    Search has commenced to appoint a Chief Financial Officer,
preferably located in the UK, and discussions are currently ongoing with
London based candidates.

 

Ms Puruvi Poddar, Chief of Corporate & Business Development, has been
appointed to the Board as Joint Managing Director with immediate effect.

 

A Material Science Engineer having graduated from the University of
Manchester, Puruvi joined the Company on 1 August 2018 and has since achieved
the position of Chief of Corporate & Business Development. Over the years,
she has been a valuable executive for the Company contributing to an array of
activities including but not limited to marketing and sales of the Company's
products, corporate activities including being a co-author of the Company's
listing prospectus, annual reports and detailed feasibility studies, the
author of the Company's maiden Sustainability Report, co-managing the
operations of the Company's projects in Madagascar, and in general managing
the affairs of the business of the Company and its development. Puruvi has
acquired a deep understanding of graphite and its markets, its applications
and customer expectations which is a key area for the Company's success. She
also manages the Company's social media and Investor relations.

 

Ms Poddar currently holds 101,587 of ordinary shares of £0.025 each in the
capital of the Company and is due to be issued a further 1,363,636 ordinary
shares in April per the recent equity raise as part of the Subscription (see
17 January 2024 RNS).

 

Mr Alastair Bath, working as Associate, Corporate & Business Development,
located in London, will be appointed to the Board as an Executive Director
with immediate effect.

 

Holding a Post Graduate Diploma in Law, with an international commodity
trading background, Alastair joined the Company as an associate in the
Corporate and Business Development team on 31 May 2023. Since joining,
Alastair has worked in various areas including coordinating activities with
the Company's Registrars and Secretary, interactions with governmental
authorities across jurisdictions, engaging with foreign missions,
documentation with contracting parties for business and project development,
attending international trade shows related to Graphite markets and supporting
the marketing of the Company's flake graphite products, research and
identification of opportunities within the evolving battery and EV sectors,
and assisting in social media and investor relations. Alastair's presence in
London as an Executive Director is expected to provide the Company with
stronger investor relations management and interface with Company
stakeholders.

 

Mr Bath currently holds 540,815 of ordinary shares of £0.025 each in the
capital of the Company and is due to be issued a further 54,545 ordinary
shares in April per the recent equity raise as part of the Subscription (see
17 January 2024 RNS).

 

 

Owing to personal reasons, Mr. Murat Dogan Erden has resigned from the Board
of the Company. Although his presence on the Board will be missed, Mr. Erden
shall continue to be engaged by the Company as a Senior Advisor to the Board.
Given his extensive experience and in senior executive financial roles, we
expect Mr. Erden will play a crucial role in providing independent guidance to
the Board on debt and other financing engagements, long-term commercial
contracts, and similar strategic activities.

 

The renewed Board is enthusiastic about delivering the objectives and vision
of the Company and will work to further build the Board structure and improve
governance structures initially through the intention to add two Non-executive
and independent Directors, and a CFO preferably London based.

 

Shishir Poddar, Executive Chairman, said:

 

"I am delighted to welcome Puruvi and Alastair to the Board. Puruvi has
already demonstrated a strong commitment to the Company and has acquired
extensive expertise in all aspects of the business and the global graphite
market.  In the months since Alastair joined the Company, he has demonstrated
that he can provide us with a strong presence in the London market alongside
adding value in executing strategic objectives. I am confident that their
board appointments will enable them to contribute even further to the success
of Tirupati.

 

"We are conscious that the composition of the Board needs balancing with the
appointment of experienced and independent non-executives and a finance
executive; we have started the search for these appointments.

 

"I would like to thank Murat for his contribution to the Company and for
agreeing to remain involved as an advisor - the first of what we intend to be
an Advisory Committee of experts.

 

"The Board is committed to the success of the Company and the best interest of
its shareholders."

 

 

ENDS

 

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

 

 Tirupati Graphite Plc

 Puruvi Poddar - Joint Managing Director     admin@tirupatigraphite.co.uk

                                             +44 (0) 20 39849894
 Optiva Securities Limited (Broker)

 Ben Maitland - Corporate Finance            +44 (0) 20 3034 2707

 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. 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 30,000 tpa of currently installed capacity, producing 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.

 

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