12 June 2024
Tirupati Graphite
plc
('Tirupati', the 'Group' or the 'Company')
Confirmed Appointment of
Non-Executive Chairman
Tirupati Graphite (TGR.L), the
specialist flake graphite company and supplier of the critical
mineral for the global energy transition, is pleased to confirm the
appointment of Mr Michael Lynch-Bell as Non-Executive
Chairman.
The appointment follows the
conclusion of the Company's EGM on 11 June 2024 and takes place
with immediate effect. As previously announced, Mr Shishir Poddar
will retain the position of Chief Executive Officer.
Mr Lynch-Bell spent a 38-year career
with Ernst & Young ('EY'), where he led its Global Oil and Gas,
UK IPO, and Global Oil and Gas and Mining transaction advisory
practices. Since leaving EY, he has developed a strong board
career, including his position of Deputy Chair and Senior
Independent Non-Executive Director of the then FTSE250 large-scale
blue-chip mining organisation, KAZ Minerals plc. He was also
previously an Independent Non-Executive Director of Barloworld
Limited and also Lenta Limited.
He is currently a Non-Executive
Director and Chairman of AIM and TSX-listed Serabi Gold Plc, a
Non-Executive Director of London-listed Gem Diamonds Limited, and
Independent Non-Executive Chairman of ASX-listed Little Green
Pharma Ltd.
Shishir Poddar, Chief Executive, commented:
"We are delighted to confirm the
appointment of Michael Lynch-Bell as Non-Executive Chairman.
Michael's significant experience as an independent director at
several listed, large-scale, and growing mining businesses,
combined with his strong background with EY, will provide the
Company with the skills and experience needed to achieve its
long-term objectives. We are looking forward to working with
Michael as the leader of our Board."
Michael Lynch-Bell, Non-Executive Chairman,
commented:
"I am excited to be joining the
Board of Tirupati Graphite. I believe the Company's underlying
investment case is strong and has significant opportunities for
future growth. I look forward to working closely with the Board and
all our stakeholders to help the Company achieve its clear
potential."
The Company makes this announcement in accordance with LR
9.6.11R of the Listing Rules. There are no other matters requiring
disclosure under Rule 9.6.13 of the Listing
Rules.
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 (Joint 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. 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
|