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Tirupati Graphite plc announced the temporary suspension of its ordinary shares' listing on the Main Market of the London Stock Exchange. This suspension took effect from 7:30 a.m. on 1 August 2024, pending the publication of its Annual Financial Report for the year ending 31 March 2024. The company stated that additional work was required to complete subsidiary audits, leading to auditors requesting more time beyond the 31 July 2024 deadline.
| Date | 1 Aug 2024 |
| Time | 08:04:34 |
| Category | Corporate updates |
| ID | 7628Y |
1 August 2024
Tirupati Graphite plc
('Tirupati', 'TG' or the 'Company')
Suspension of Listing pending publication of Annual Financial Report
Tirupati Graphite plc, the specialist graphite producer and a supplier of the critical mineral for the energy transition provides the following update in relation to the publication of its Annual Financial Report ("Annual Report").
The Company was required to publish its Annual Report for the year ending 31 March 2024, by 31 July 2024. However, additional work has been required to complete subsidiary audits by the Group auditor in order to maintain audit quality requirements. Company's auditors have requested additional time beyond the originally planned timetable to complete their audit.
As a result, Listing of the Company's ordinary shares on the Main Market of the London Stock Exchange will be temporarily suspended with effect from 7.30 a.m. on 1 August 2024 pending publication of the Annual Report.
ENDS
For further information, please visit https://www.tirupatigraphite.co.uk/ or contact:
|
Tirupati Graphite Plc Puruvi Poddar - Joint Managing Director
|
admin@tirupatigraphite.co.uk +44 (0) 20 39849894 |
|
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
|
|
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. 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 30,000 tpa of currently installed capacity, producing 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 |
In production: 18,000tpa capacity |
|
Madagascar |
Vatomina |
In production: 12,000tpa capacity |
|
Mozambique |
Montepuez |
100,000tpa permitted, development-initiated |
|
Mozambique |
Balama Central |
58,000tpa permitted, development-ready |