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.

2 January 2025

Tirupati Graphite plc

('Tirupati', 'TG', the 'Group' or the 'Company')

Further Board Restructuring

Tirupati Graphite plc (TGR.L), the specialist flake graphite company and producer of this critical mineral for the global energy transition, announces a further restructuring of its Board of Directors in continuation to its restructuring announced on 11 December 2024.

Board Restructuring

The Company has appointed Mr Mark Rollins as Executive Chairman of the Company, effective immediately. As such, Mr Michael Lynch-Bell will no longer be the Chairman of the Company but will continue as a non-executive director of the Company.

Further details of the appointment are as below:

Mark Rollins: A seasoned resource industry executive across multiple international markets with extensive experience in commercial, business development, government relations, and corporate governance. Mr Rollins is currently a non-executive Director of TSX-listed Tenaz Energy corp and non-executive Chairman of AIM-listed Beacon Energy plc. Previously he served as Chairman of the Executive Board and CEO of Ukrnafta PJSC (2015-2019) and was a Senior Vice President at BG Group plc (2008-2015).

Audit and Annual Report Update

The Company is pleased to confirm that Companies House has granted the Company an extension to 31 March 2025 for submission and publication of the audited annual report and financial statements.

Commenting on the restructuring, Mark Rollins, Executive Chairman of Tirupati Graphite said:

"I am pleased to join Tirupati Graphite at this critical time in the Company's evolution on the London Stock Exchange. I would like to thank Michael Lynch-Bell for his efforts to date and we look forward to continuing to work with him.

The Board's immediate priorities are to strengthen the executive team and to work alongside the Auditors towards the rapid completion of the audit of the Company's accounts and financial statements so that the Company can commence the next chapter of its corporate journey.

Further updates on our progress will be issued in due course."

ENDS

For further information, please visit https://www.tirupatigraphite.co.uk/ or contact: 

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: