Tirupati Graphite PLC Removal of Director
29 Janvier 2025 - 8:00AM
RNS Regulatory News
RNS Number : 0304V
Tirupati Graphite PLC
29 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.
29 January 2025
Tirupati Graphite
plc
('Tirupati', 'TG', the
'Group' or the 'Company')
Removal of
Director
Following a Board Meeting duly
convened and held yesterday, Shishir Poddar's role as director of
the Company has been vacated, with immediate effect.
Shishir Poddar remains suspended from
his role as Co-CEO, pending further investigation by the Company
(see 15 January 2025 RNS).
ENDS
For further information, please
visit https://www.tirupatigraphite.co.uk/ or
contact:
|
Tirupati Graphite Plc
Mark Rollins - Executive
Chairman
Alastair Bath - Investor
Relations
|
info@tirupati.co.uk
IR@tirupati.co.uk
+44 7356 057 265
|
|
CMC
Markets UK Plc (Broker)
Douglas Crippen
|
+44 (0)20 3003 8632
|
|
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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