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.
15 January 2025
Tirupati Graphite plc
('Tirupati', 'TG', the 'Group' or the 'Company')
Suspension of co-CEO
Tirupati Graphite plc announces that Shishir Poddar has been suspended from his role as Co-CEO, pending further investigation by the Company.
ENDS
For further information, please visit https://www.tirupatigraphite.co.uk/ or contact:
| Tirupati Graphite Plc Mark Rollins - Executive Chairman Alastair Bath - Investor Relations |
tirupatigraphitelondon@gmail.com +44 7356 057 265 |
| CMC Markets UK Plc (Broker) Douglas Crippen |
+44 (0)20 3003 8632 |
| Musst / ViTa-Connect (Financial Adviser) Tabrez Khan | tabrez@vita-connect.co +44 746 903 3573 / +971 50871 7864
|
| FTI Consulting (Financial PR) Ben Brewerton / Nick Hennis / Lucy Wigney | +44 (0) 20 3727 1000 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 |
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
