Suspension of co-CEO

Tirupati Graphite PLC

15 January 2025

 

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	[e-mail] [phone]
CMC Markets UK Plc (Broker) Douglas Crippen	[phone]
Musst / ViTa-Connect (Financial Adviser) Tabrez Khan	[e-mail] [phone] / [phone]
FTI Consulting (Financial PR)  Ben Brewerton / Nick Hennis / Lucy Wigney	[phone]  [e-mail]

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

 

END