REG - Tirupati Graphite - Removal of Director

Tirupati GraphiteAnnouncement

29/01/2025 07:00

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RNS Number : 0304V  Tirupati Graphite PLC  29 January 2025

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No.
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Act 2018. Upon the publication of this announcement, this information is
considered to be in the public domain.

 

 

29 January 2025

Tirupati Graphite plc

 

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

 

Removal of Director

 

 

Following a Board Meeting duly convened and held yesterday, Shishir Poddar's
role as director of the Company has been vacated, with immediate effect.

 

Shishir Poddar remains suspended from his role as Co-CEO, pending further
investigation by the Company (see 15 January 2025 RNS).

 

 

ENDS

 

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

 

 Tirupati Graphite Plc                          

 Mark Rollins - Executive Chairman             info@tirupati.co.uk

 Alastair Bath - Investor Relations            IR@tirupati.co.uk

                                               +44 7356 057 265
 CMC Markets UK Plc (Broker)

 Douglas Crippen                               +44 (0)20 3003 8632
 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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