REG - Tirupati Graphite - Further Board Restructuring

Tirupati GraphiteAnnouncement

02/01/2025 15:30

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RNS Number : 9738R  Tirupati Graphite PLC  02 January 2025

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considered to be in the public domain.

 

 

2 January 2025

Tirupati Graphite plc

 

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

 

Further Board Restructuring

 

Tirupati Graphite plc (TGR.L), the specialist flake graphite company and
producer of this critical mineral for the global energy transition, announces
a further restructuring of its Board of Directors in continuation to its
restructuring announced on 11 December 2024.

 

Board Restructuring

 

The Company has appointed Mr Mark Rollins as Executive Chairman of the
Company, effective immediately. As such, Mr Michael Lynch-Bell will no longer
be the Chairman of the Company but will continue as a non-executive director
of the Company.

 

Further details of the appointment are as below:

 

Mark Rollins: A seasoned resource industry executive across multiple
international markets with extensive experience in commercial, business
development, government relations, and corporate governance. Mr Rollins is
currently a non-executive Director of TSX-listed Tenaz Energy corp and
non-executive Chairman of AIM-listed Beacon Energy plc. Previously he served
as Chairman of the Executive Board and CEO of Ukrnafta PJSC (2015-2019) and
was a Senior Vice President at BG Group plc (2008-2015).

 

Audit and Annual Report Update

 

The Company is pleased to confirm that Companies House has granted the Company
an extension to 31 March 2025 for submission and publication of the audited
annual report and financial statements.

 

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

 

"I am pleased to join Tirupati Graphite at this critical time in the Company's
evolution on the London Stock Exchange. I would like to thank Michael
Lynch-Bell for his efforts to date and we look forward to continuing to work
with him.

 

The Board's immediate priorities are to strengthen the executive team and to
work alongside the Auditors towards the rapid completion of the audit of the
Company's accounts and financial statements so that the Company can commence
the next chapter of its corporate journey.

 

Further updates on our progress will be issued in due course."

 

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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