26 April 2024
Tirupati Graphite
plc
('Tirupati', the 'Group' or the 'Company')
Receipt of Requisition
Letter
Tirupati Graphite (TGR.L,
TGRHF.OTCQX), the specialist flake graphite company and supplier of
the critical mineral for the global energy transition, confirms
that it has received a letter from Walpole St. Andrews Nominees Ltd
on behalf of a group of underlying shareholders holding, in
aggregate, 6,847,813 ordinary shares representing c. 5.8% of the
issued ordinary share capital of the Company, requesting the
Company to convene a general meeting of the Company's shareholders
pursuant to section 303 of the Companies Act 2006 (the
"Act"). The Company is
taking advice as to the validity of the requisition letter and a
further announcement will be made in due course.
The letter has requested that at the
requisitioned meeting, shareholders of the Company consider
resolutions to remove Shishir Poddar, Puruvi Poddar and Alastair
Bath from office as directors of the Company and to appoint Mark
Rollins, Leo Koot, Isabel de Salis and Murat Dogan Erden as
directors of the Company.
Shareholders are advised that no
action is required at this time. Further announcements will be made
as appropriate.
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
|
|
Optiva Securities Limited (Joint
Broker)
Ben Maitland - Corporate
Finance
|
+44 (0) 20 3034 2707
|
|
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
|