The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this information is considered to be in the public domain.

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: 

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: