REG - Tirupati Graphite - Appointment of Non-Executive Chairman

Tirupati GraphiteAnnouncement

31/05/2024 07:00

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RNS Number : 5554Q  Tirupati Graphite PLC  31 May 2024

31 May 2024

Tirupati Graphite plc

 

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

 

Appointment of Non-Executive Chairman

 

Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist flake graphite
company and supplier of the critical mineral for the global energy transition,
is delighted to announce the proposed appointment of Michael David Lynch-Bell
as Non-Executive Chairman of the Company.

 

Mr Lynch-Bell brings extensive experience across various sectors and business
disciplines, particularly governance, mining, and finance. He 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.

 

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.

 

The appointment of Mr Lynch-Bell illustrates the Company's commitment, as
previously announced, to enhance its corporate governance by appointing high
calibre, experienced and independent directors onto its Board of Directors. In
addition to the traditional roles undertaken by a Non-Executive Chairman, Mr
Lynch-Bell will be closely involved in all Company efforts to enhance its
corporate governance, including oversight of the programme to recruit
additional independent directors. He will also, along with forthcoming new
board appointments, oversee and monitor all related party transactions to
ensure they meet best practice guidelines and continue to offer best value for
the Company and its shareholders.

 

The appointment is conditional upon the current Board remaining in place
following the forthcoming general meeting of shareholders. It would therefore
take effect after the close of the general meeting on 11 June 2024. Upon Mr
Lynch-Bell's appointment, Mr Shishir Poddar will retain the position of Chief
Executive Officer.

 

 

Shishir Poddar, current Executive Chairman and Managing Director, commented:

"We are delighted to announce the appointment of Michael Lynch-Bell as
Non-Executive Chairman. This demonstrates our commitment to enhancing the
Board composition with wholly independent, highly experienced, and
appropriately skilled operators. Michael's significant experience as an
independent Director at several large-scale and growing mining businesses,
combined with his strong background with EY, provides the Company with access
to vital skills and experience. He will undoubtedly help steer the Company
well on its journey to achieve its considerable potential. With this
appointment becoming effective, the Board will work under his leadership and
guidance to progress the planned future independent director appointments."

 

Michael Lynch-Bell, incoming Non-Executive Chairman, commented:

"I am extremely excited at the opportunity to be joining the Board of Tirupati
Graphite. The Company's underlying investment case is strong. Long-term
growing demand for critical commodities such as graphite, which support the
clean energy transition, is unquestionable. The Company's opportunity to be a
leading supplier outside China and thus provide a geopolitically secure supply
of graphite to a global customer base gives it and its shareholders a unique
opportunity. Whilst the Company faces a challenging market for financing, I am
confident it will successfully manage this and other challenges with the
appropriate governance framework in place. I will not hesitate in providing to
the Company all insight, access to my network and connections for the
executive team to achieve the company's objectives."

 

ENDS

 

For further information, please visit https://www.tirupatigraphite.co.uk/
(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)                 +44 (0) 20 3727 1000

 Ben Brewerton / Nick Hennis / Lucy Wigney     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

 

 

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