Tirupati Graphite PLC Suspension of co-CEO
16 January 2025 - 3:09AM
RNS Regulatory News
RNS Number : 4823T
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
|
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
|
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END
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