REG - Tirupati Graphite - Temporary suspension of listing

Tirupati GraphiteAnnouncement

01/08/2023 07:30

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RNS Number : 8211H  Tirupati Graphite PLC  01 August 2023

1 August 2023

Tirupati Graphite plc

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

 

Suspension of listing pending publication of Annual Financial Report

 

Tirupati Graphite plc, the specialist graphite producer and a supplier of
critical minerals for the green transition economy provides the following
update in relation to the publication of its Annual Financial Report ("Annual
Report").

 

The Company was required to publish its Annual Report for the financial year
ending 31 March 2023 by 31 July 2023. However, the Company's auditors
requested additional time beyond the originally planned timetable to complete
their audit.

 

As a result, at the Company's request, the listing of the Company's ordinary
shares on the Main Market of the London Stock Exchange will be suspended with
effect from 7.30 a.m. on 1 August 2023 pending publication of the 2023 Annual
Report.

 

 

 

ENDS

 

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

 

 Tirupati Graphite Plc

 Puruvi Poddar - Chief of Corporate & Business Development       admin@tirupatigraphite.co.uk

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

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

 Robert Emmet - Corporate Broking                                +44 (0) 20 3981 4173

 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 flake graphite company and places a
special emphasis on "green" applications of flake graphite, including
renewable energy, energy efficiency, energy storage and thermal management and
is committed to ensuring its operations are sustainable as well.

 

The Company's operations include primary mining and processing in Madagascar,
where the Company operates two key projects, Sahamamy and Vatomina. With the
start of commercial production of its latest 18,000 tpa plant at Sahamamy in
March 2023, it now has an installed capacity of 30,000 tpa high-quality flake
graphite concentrate with up to 97% purity in Madagascar, planned to increase
to 84,000 tpa as per the Company's modular medium-term development plan.

 

On 3rd April 2023 the Company completed the acquisition of Suni Resources SA,
Mozambique, whose two main assets are (i) the Montepuez Project which holds
the mining licence over an area of 3,667 hectares with JORC 2012 defined
reserves & resources of almost 120 million tonnes; plus (ii) the Balama
Central Project, which has a mining license over 1,543 hectares with JORC 2012
defined mineral reserves and resources of 33 million tonnes. Both projects
have licenses permitting build out to an annual production of 100,000 and
58,000 tons of flake graphite respectively.

 

TG believes that the addition of these projects provides the Company with
sufficient resources to achieve its ambition of satisfying 8% of the estimated
global flake graphite demand - of around 5 million tons per annum - by 2030.

 

 

 

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