Duyuru • Jul 24
Total Graphite plc Appoints Graeme Chester as Madagascar Head of Operations Total Graphite plc announced the appointment of Mr. Graeme Chester as Head of Operations in Madagascar. Mr. Chester was appointed to guide and support the team on site to implement the workstreams identified for optimising production and bringing about operational readiness in an intense work programme concentrated over the next several months ahead of the January 2027 Vatomina restart target. Mr. Chester will report directly to the Chief Executive Officer. Mr. Chester is an experienced mining engineer with approximately 50 years of experience in minerals, mining, construction and project management, having worked in various countries across Africa, Australia and Asia. Mr. Chester specialises in turnarounds and operational improvements and carried out the recent comprehensive on site review that identified the number of opportunities to prepare the Vatomina project for operational readiness to produce above 1,000 tons per month. Mr. Chester will provide operational leadership utilising his experience to enhance reporting, embed additional procedures and practices to an international standard, and build the team ahead of restarting regular mining and production. Duyuru • Jul 17
Total Graphite Temporarily Pauses Production At Vatomina Operation Total Graphite plc had production temporarily paused at its Vatomina operation while operational and geological workstreams, including drilling, mine planning, infrastructure upgrades and final plant optimisation work, are completed. Production restart above 1,000 MTs per month is targeted from December 2026, subject to drilling progress. The Board has concluded that obtaining additional geological information through a targeted drilling programme at Vatomina and updating the mine plan together with updating the Montepuez DFS represent the most effective use of capital at this stage of the Company's development. Production has therefore been temporarily suspended while these activities are completed, with the objective of reducing operational risk and establishing a more robust foundation for future operations. Following several months of operating experience and after an independent technical review, the Board concluded that additional geological information is required to refine mine planning and optimise future production. Accordingly, production has been temporarily paused while drilling, technical studies and optimisation activities are undertaken. The Board believes investing time and capital in completing these improvements will create substantially greater long-term shareholder value than continuing production before optimisation is complete. Duyuru • Jun 09
Total Graphite plc Announces Board Changes Total Graphite plc announced that Mr. Thomas Hill, currently Chief Financial Officer, was appointed to the Board as Finance Director. Mr. Hill continues to play a key role in the Company's financial and operational development whilst supporting the execution of the Company's strategic objectives. Mr. Andrew Wright was appointed to the Board as Non-Executive Director. Mr. Wright is an English-qualified solicitor with over 25 years' experience advising on UK and international transactions across the natural resources sector, including a decade in private practice at White & Case and Vinson & Elkins, followed by a decade as General Counsel to a sovereign wealth fund in the UAE followed by a significant industrial conglomerate, overseeing complex cross-border M&A and financing activity while embedding robust corporate governance frameworks. Mr. Wright has deep sector expertise spanning mining and minerals, energy and renewables, with hands-on experience of resource development gained as a director of an iron ore project in Minnesota, and a broader track record across mergers and acquisitions, private equity, project finance and corporate restructuring in both developed and emerging markets. Wright holds a number of current board positions, including non-executive directorships of an investment bank and a gas exploration company. Mr. Mark Rollins has stepped down as Non-Executive Chairman due to other full-time commitments. To maintain continuity for the duration of the Programme, Mr. Christian Dennis, current Non-Executive Director, has been appointed Interim Non-Executive Chairman whilst a process to appoint a permanent Chairman is conducted, and a further announcement will be made in due course. Mr. Michael Lynch-Bell has stepped down from the Board in order to concentrate on other activities. New Risk • May 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 450% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 33% per year over the past 5 years. Shareholders have been substantially diluted in the past year (450% increase in shares outstanding). Minor Risks Revenue is less than US$5m (UK£1.9m revenue, or US$2.5m). Market cap is less than US$100m (UK£9.72m market cap, or US$13.1m). Duyuru • Apr 29
Tirupati Graphite plc Announces Madagascar Operations and Production Update Total Graphite Plc provide an operational update for its Madagascar flake graphite projects. Operations resumed on site following the completion of the fundraising at end of March 2026. • Extensive preparatory maintenance across the project's processing plant and mining fleet, was completed ahead of the operational restart utilising resupply deliveries which arrived at the end of Third Quarter 2025. • The CEO and CFO, together with other group management personnel completed a cumulative 2 week site visit during this month. • Meetings were held with the Ministry of Mining to brief the minister on current operations and future potential development plans. • Shipments from Vatomina to port for onwards delivery to international customers has resumed during April. Mining has resumed from the BK6 mining area, and as has processing via Pre-Concentrate Units ("PCU"), PCU 3 and PCU 4 and the Vatomina Final Processing Plant ("FCU") is ongoing. • Production from PCU1 and 2 is expected to restart in first half of June following: o relocation to Old Mine area, identified as within suitable proximity to new, sufficient quality mining areas; and, o expansion of tailings storage and water reservoir facilities. • Installation and commissioning of a new 3 ton per hour dryer was completed and is operational at the FCU, increasing total drying capacity to 4.5 tons per hour. • Ongoing stockpiling is underway at the operational and future PCU locations to establish equivalent to a month's worth run-of-mine ore to mitigate bad weather. • The Company is finalising a full-year mine plan and a 12-month drilling programme to support long-term growth. • Spare parts inventory has been further built up in order to be ready to deal with future potential breakdowns and damage of equipment in the processing of graphite. A continuous schedule of equipment and parts resupply has been established going forward. Fuel supplies have remained available despite the conflict in the Middle East. However, increased prices and currency fluctuations have meant average fuel costs have risen by over 15% in the short term. • A proposal to introduce solar power generation on-site and reduce exposure to fuel prices is under review. A re-development plan for Sahamamy, that includes a significant hydropower capacity increase is under preparation. The Sahamamy project represents a potential additional 18,000 tpa key strategic growth asset, 8km West of Vatomina. • The existing applications and their status for three additional licences around the Sahamamy project and their progress were discussed in meetings with the ministry of mining over the past two weeks. Board Change • Mar 25
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Non-Executive Director Michael Lynch-Bell is the most experienced director on the board, commencing their role in 2024. Independent Non-Executive Director Christian St. John-Dennis was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Duyuru • Aug 16
Tirupati Graphite plc Provides Madagascar Operational Update Tirupati Graphite plc provided a progress update on its Madagascar operations. Vatomina Operations - July: The commissioning of the fourth PCU at the BK6 mine site was successfully completed on 31 July 2025; as at the end of July, the Vatomina operation had 4 working PCUs. Production for July 2025 was 221 MTs of sellable graphite. July saw significant unseasonal rainfall resulting in a loss of 17 days of mining operations. Sellable production totals 2,285 MTs since restart of operations in February 2025. The target of 1,000 MTs per month production rate was not achieved by end of July due to adverse weather and factors described below. It is now expected that this production rate will be achieved in October 2025. In addition to weather-related interruptions to mining operations, production was behind guidance due to the factors below; rectifications commenced before the end of July and will continue during August: o Installation of larger dryer, relocated from Sahamamy, delayed by adverse weather; Insufficient ore mined to supply PCUs at the required feed rate; Insufficient slurry feed provided from PCU to final processing plant ("FCU"); Non-availability of various spare parts in-country. Vatomina Operations - August Onward: Remedial measures and upgrades being implemented and planned for the remainder of 2025 include: The larger dryer installation is to be completed in the week commencing 18 August, which is expected to increase overall drying capacity to 4.5 tons per hour; A comprehensive re-supply shipment of spares for the mining fleet and process plant, and of necessary replacement and upgrade equipment, to optimise PCU and FCU processing rates will be delivered to site by the middle of September, and upgrades will be completed during October; Addition to the excavator fleet with a new excavator available at site from 16 August, with 60% higher capacity than the current excavator fleet and increasing the excavator fleet to five units; all to be operational from September post re-supply of spares. Ore stockpiling of one-month's Run-of-Mine ore to be maintained to mitigate future potential adverse weather disruptions to mining operations. These upgrades to the PCUs and FCU, and continuous ore sampling to support optimal ore recoveries should support the production of high quality finished product grading up to 96% fixed carbon. Guidance of 1500 MTs per month production rate by December 2025 remains in place. Evaluations for installation of double-deck vibratory screens at each PCU are underway to increase the throughput such that 1500 tons per month can be maintained. Duyuru • Jul 16
Tirupati Graphite plc, Annual General Meeting, Aug 08, 2025 Tirupati Graphite plc, Annual General Meeting, Aug 08, 2025. Location: the offices of gowling wlg uk llp, 4 more london riverside, se1 2au, london United Kingdom Duyuru • Apr 09
Tirupati Graphite plc announced that it expects to receive £1.6 million in funding Tirupati Graphite plc announced a private placement that it will issue convertible loan for the gross proceeds of up to £1,600,000 on April 7, 2025. Duyuru • Feb 11
Tirupati Graphite plc Announces Resignation of Murat Erden as Non-Executive Director Tirupati Graphite plc announced that Mr. Murat Erden has resigned from his role as Non-Executive Director with immediate effect to take up an external executive position. Mark Rollins, Executive Chairman of Tirupati Graphite, expressed gratitude for Murat's contributions in supporting the restructuring of the company's Board and repositioning the Company for a strong recovery and future growth. Duyuru • Jan 31
Tirupati Graphite plc Announces Removal of Shishir Poddar as Director Tirupati Graphite plc announced that following a Board Meeting duly convened and held on 28 January 2025, Shishir Poddar's role as director of the Company has been vacated, with immediate effect. Duyuru • Jan 16
Tirupati Graphite plc Announces Suspension of Shishir Poddar as Co-CEO Tirupati Graphite plc announced that Shishir Poddar has been suspended from his role as Co-CEO, pending further investigation by the Company. Duyuru • Jan 14
Tirupati Graphite plc Appoints Peter Thomas as Interim Chief Financial Officer Tirupati Graphite plc appointed Mr. Peter Thomas as Interim Chief Financial Officer, effective immediately. To be based in London, Mr. Thomas will immediately prioritise: · the completion of the statutory audit of the annual report & accounts for the year ended 31 March 2024; · assisting in closing short term financing arrangements (alongside the Company's advisors); · reaching mutually acceptable agreements with the Company's creditors · review of existing, and implement lasting improvements, in financial systems and reporting; · the re-design of the financial function of the Company and establish a finance team to support its longer-term growth. It is the intention that Mr. Thomas will join the Company's Board at an appropriate time and provide his strategic guidance and oversight to the Company's overall development. Further details about the Chief Financial Officer appointment: · Peter Thomas is an experienced CFO/Finance Director in the energy and resources sector, having held the positions in various listed and private companies since 2005. Based in the UK, he has more recently been a non-executive director and Audit Committee Chairman, currently with international oil drilling and engineering group, KCA Deutag. · Peter is a Chartered Accountant and has particular experience in corporate finance and funding, management of international operations and capital projects and M&A. · Peter worked for Enterprise Oil plc as Group Financial Controller, Group Treasurer with Investor Relations and then Treasurer and Head of Planning until 2002, then as Chief Financial Officer for Hardman Resources Ltd. in Australia, an ASX and AIM listed company operating principally in Africa until its successful sale, then as Finance Director for Stratic Energy Corporation, a Canadian and UK quoted group, CFO at Ophir Energy and regional CFO for Chief the Abu Dhabi National Energy Company (TAQA). · He was CFO for private-equity-backed Neptune Energy from 2016 to early 2019, seeing the company through its $4bn foundational acquisition as a new venture and the related financings and bolt-on acquisitions. He was then CFO for Neo Energy before moving to NED, interim and consulting work. Duyuru • Jan 10
Tirupati Graphite plc Announces Committee Changes Tirupati Graphite plc announced updates to Board sub-committee structure in order to prepare and enhance corporate governance as part of its ongoing organisational restructuring. As a result of recent Board changes, the Board has dissolved the following pre-existing sub-committees, effective immediately: Audit, Remuneration, Nomination; The Board has replaced them with the following Board sub-committees comprised of the following, effective immediately: Audit; to be chaired by Non-Executive Director, Mr. Murat Erden, with Mr. Mark Rollins and Mr. Christian Dennis as fellow committee members. Nomination & Remuneration; to be chaired by Non-Executive Director, Mr. Christian Dennis, with Mr. Mark Rollins and Mr. James Nieuwenhuys as fellow committee members. Duyuru • Jan 03
Tirupati Graphite plc Announces Board Changes Tirupati Graphite plc announced a further restructuring of its Board of Directors in continuation to its restructuring announced on 11 December 2024. 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. 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 Tenaz Energy corp and non-executive Chairman of 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). Duyuru • Dec 13
Tirupati Graphite plc Announces Board Changes Tirupati Graphite plc announced a significant restructuring of its Board of Directors pursuant to the Board restructuring plan communicated by the Company: Board Restructuring The Company has appointed Christian St. John-Dennis, Murat Dogan Erden and Anthony James Nieuwenhuys as Non-Executive Directors, effective immediately. This strategic move will enhance the corporate governance of the Company and strengthen the Company's leadership. Furthermore, it supports the Company's critical priorities, including the ongoing audit process, securing funding, and resolving the current trading suspension. Further details about the appointments are as below: 1. Anthony James Nieuwenhuys: An experienced CEO of listed mining companies, with deep expertise in operational leadership and corporate governance. Mr. Nieuwenhuys is currently a director and CEO of TSX listed Zeb Nickel Corp. and Kopanag Gold Empowerment company, having previously been a director of AIM listed Eurasia Mining PLC. 2. Murat Dogan Erden: A seasoned CFO with extensive experience in debt & capital markets, governance, and financial strategy, and an FCA-approved Non-Executive Director and Chairman in private equity, specialising in sustainable strategies in Africa. Mr. Erden is currently a director of Arch Emerging Markets Partners Limited. Mr. Erden was previously a Non-Executive Director of the Company from October 2023 to March 2024. 3. Christian St. John-Dennis:A recognised Corporate Broker, Mr. Dennis is the CEO of Optiva Securities Limited, a FCA regulated Broker in London. Mr. Dennis is currently also a Director of Hoxton Spirits Limited. Mr. Dennis was previously a Non-Executive Director of the Company from April 2017 to July 2023. Simultaneously, Puruvi Poddar has resigned from her position as a Director on the Board. Puruvi will continue to contribute to Tirupati's growth in her capacity as Chief of Corporate & Business Development, where she will focus on advancing the Company's strategic and commercial initiatives. Duyuru • Nov 22
Tirupati Graphite plc Announces Resignation of Alastair Bath as Director Tirupati Graphite plc announced that Mr. Alastair Bath has resigned as a Director of the Company. The Company is working on expanding the Board in the near term with addition of a CFO and Non-Executive Director. New Risk • Jul 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). High level of non-cash earnings (116% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (UK£8.61m market cap, or US$11.2m). Duyuru • Jun 13
Tirupati Graphite Appoints Michael Lynch-Bell as Non-Executive Chairman Tirupati Graphite confirmed 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 Gem Diamonds Limited, and Independent Non-Executive Chairman of ASX-listed Little Green Pharma Ltd. New Risk • Mar 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). High level of non-cash earnings (116% accrual ratio). Market cap is less than US$10m (UK£7.71m market cap, or US$9.85m). Minor Risk Shareholders have been diluted in the past year (23% increase in shares outstanding). Duyuru • Mar 12
Tirupati Graphite plc Announces the Completion of Its Exploration and Resource Drilling Programme At Its Two Madagascan Flake Graphite Projects Tirupati Graphite plc announced the completion of its exploration and resource drilling programme at its two Madagascan flake graphite projects. An updated Competent Persons Report (CPR) is now being prepared by SRK Consulting and is expected to be published in the near term. Exploration Programme Overview: Completed c.5,000 metres of diamond core drilling, 26,000 metres of auger drilling and 360 running metres of six to eight metres depth trenching across the two projects. Drilling was undertaken using the Company's fully owned equipment - two diamond core drilling rigs, auger facilities and earthmoving machinery, used for developing access to exploration locations and trench cutting. Duyuru • Mar 07
Tirupati Graphite plc Announces Management Changes Tirupati Graphite plc announced that, as part of an ongoing process to freshen and strengthen its Board of Directors, the following changes are being implemented: Ms Puruvi Poddar and Mr. Alastair Bath will join the Board in executive roles. Mr. Murat Erden has resigned as a Non-executive Director with immediate effect due to personal reasons however, shall continue as a Senior Advisor to the Board. The establishment of an advisory board of which Mr. Erden will be the inaugural member. Search has commenced for two Non-executive Directors to join the Board with one appointment having experience of the mineral processing industry, to progress Corporate Governance reforms. Search has commenced to appoint a Chief Financial Officer,preferably located in the UK, and discussions are currently ongoing with London based candidates. Ms Puruvi Poddar, Chief of Corporate & Business Development, has been appointed to the Board as Joint Managing Director with immediate effect. A Material Science Engineer having graduated from the University of Manchester, Puruvi joined the Company on 1 August 2018 and has since achieved the position of Chief of Corporate & Business Development. Over the years, she has been a valuable executive for the Company contributing to an array of activities including but not limited to marketing and sales of the Company's products, corporate activities including being a co-author of the Company's listing prospectus, annual reports and detailed feasibility studies, the author of the Company's maiden Sustainability Report, co-managing the operations of the Company's projects in Madagascar, and in general managing the affairs of the business of the Company and its development. Puruvi has acquired a deep understanding of graphite and its markets, its applications and customer expectations which is a key area for the Company's success. She also manages the Company's social media and Investor relations. Mr. Alastair Bath, working as Associate, Corporate & Business Development, located in London, will be appointed to the Board as an Executive Director with immediate effect. Holding a Post Graduate Diploma in Law, with an international commodity trading background, Alastair joined the Company as an associate in the Corporate and Business Development team on 31 May 2023. Since joining, Alastair has worked in various areas including coordinating activities with the Company's Registrars and Secretary, interactions with governmental authorities across jurisdictions, engaging with foreign missions, documentation with contracting parties for business and project development, attending international trade shows related to Graphite markets and supporting the marketing of the Company's flake graphite products, research and identification of opportunities within the evolving battery and EV sectors, and assisting in social media and investor relations. Alastair's presence in London as an Executive Director is expected to provide the Company with stronger investor relations management and interface with Company stakeholders. Mr. Erden shall continue to be engaged by the Company as a Senior Advisor to the Board. Given his extensive experience and in senior executive financial roles, expect Mr. Erden will play a crucial role in providing independent guidance to the Board on debt and other financing engagements, long-term commercial contracts, and similar strategic activities. The renewed Board is enthusiastic about delivering the objectives and vision of the Company and will work to further build the Board structure and improve governance structures initially through the intention to add two Non-executive and independent Directors, and a CFO preferably London based. New Risk • Mar 02
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£7.77m (US$9.83m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (116% accrual ratio). Market cap is less than US$10m (UK£7.77m market cap, or US$9.83m). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (23% increase in shares outstanding). Duyuru • Feb 29
Tirupati Graphite plc Announces Resignation of Isabel De Salis as Non-Executive Director Tirupati Graphite plc announced that Ms. Isabel de Salis has resigned as a Non-Executive Director of the Company with immediate effect. Duyuru • Feb 05
Tirupati Graphite plc Announces Resignation of Hemant Poddar as Non-Executive Director Tirupati Graphite plc announced that Mr. Hemant Poddar has resigned as a Non-Executive Director of the Company, with immediate effect, in order to focus on his other business interests. Following the appointments of Non-Executive Directors, Ms Isabel de Salis and Mr. Murat Dogan Erden, in 2023, the Board initiated various measures as part of a review of its corporate governance including but not limited to: The reconstitution of the board committees on Audit & Risk, Remuneration and Nominations; The creation of a new Sustainability Committee to keep under review the achievement of the Company's sustainability goals including on clean energy and waste minimisation, continuing to target net zero emissions by turn of the decade. The Board now constitutes three members, of which two are independent Non-Executive Directors. Duyuru • Jan 17
Tirupati Graphite plc has completed a Follow-on Equity Offering in the amount of £1.045 million. Tirupati Graphite plc has completed a Follow-on Equity Offering in the amount of £1.045 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 9,500,000
Price\Range: £0.11
Transaction Features: Subsequent Direct Listing Reported Earnings • Jan 02
First half 2024 earnings released: EPS: UK£0.073 (vs UK£0.017 loss in 1H 2023) First half 2024 results: EPS: UK£0.073 (up from UK£0.017 loss in 1H 2023). Net income: UK£7.77m (up UK£9.25m from 1H 2023). Duyuru • Oct 26
Tirupati Graphite plc Announces the Appointment of Murat Dogan Erden as Non-Executive Director, Effective 26 October 2023 Tirupati Graphite plc announced the appointment of Murat Dogan Erden as a Non-Executive Director on the Board of Tirupati Graphite, with effect from the close of the AGM on 26 October 2023. Based in London, Mr. Erden's career spans over 25 years, with an expertise in financial management within the Technology and Sustainable resources sectors. Murat to date has been a results-oriented Chief Financial Officer and Non-Executive Director, renowned for his international experience across private equity, publicly listed, and pre-listed technology and resource companies. Murat also has a track record in Sustainable investments and emerging technologies. He served as Group CFO at NYSE-listed Turkcell, where he worked for 15 years, and made significant contributions to the Company's financial success up until 2016. Murat is also Non-Executive Independent Chairman of ARCH Emerging Partners since 2018, an FCA registered specialist investment advisor with deep emerging market, private equity, and asset management experience. Murat's educational background is equally impressive, with degrees in Economics from Bogazici University, as well as an MBA in Finance from San Diego State University. He has continued to enhance his knowledge and skills by graduating from programmes at the London Business School and the Wharton Executive Development programs. New Risk • Oct 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£7.6m free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 22% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Revenue is less than US$5m (UK£2.9m revenue, or US$3.5m). Market cap is less than US$100m (UK£19.0m market cap, or US$23.2m). Reported Earnings • Aug 04
Full year 2023 earnings released: UK£0.026 loss per share (vs UK£0.022 loss in FY 2022) Full year 2023 results: UK£0.026 loss per share (further deteriorated from UK£0.022 loss in FY 2022). Revenue: UK£2.89m (up 76% from FY 2022). Net loss: UK£2.37m (loss widened 23% from FY 2022). Duyuru • Jul 22
Tirupati Graphite plc Announces Resignation of Christian Dennis as Non-Executive Director Tirupati Graphite plc announced that Christian Dennis has resigned as Non-Executive Director of the Company, with immediate effect, to focus on other commitments. The Board would like to thank Mr. Dennis for his service to the Company and wish him well for the future. New Risk • Jul 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 24% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Share price has been volatile over the past 3 months (9.7% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding). Significant insider selling over the past 3 months (UK£153k sold). Revenue is less than US$5m (UK£2.3m revenue, or US$2.9m). Market cap is less than US$100m (UK£35.8m market cap, or US$45.5m). Duyuru • Jun 02
Tirupati Graphite plc Announces Board Changes Tirupati Graphite plc announced the appointment of Isabel de Salis as a Non-Executive Director on the Board of Tirupati Graphite, with effect from 1 June 2023. The Company also advises that Douglas Wright has resigned as Non-Executive Director of the Company with immediate effect to pursue other interests. Isabel has over 25 years' experience across capital markets, including business consultancy and investor relations for AIM and Main Market companies. Isabel is currently a Consultant at St Brides Partners Ltd, which she founded in 2001 to provide investor and public relations advisory to listed companies. She served as CEO at St Brides until 2019. Isabel is also currently a Director at Lepanto Consultancy and Cadenza Developments. Reported Earnings • Dec 30
First half 2023 earnings released: UK£0.017 loss per share (vs UK£0.013 loss in 1H 2022) First half 2023 results: UK£0.017 loss per share (further deteriorated from UK£0.013 loss in 1H 2022). Revenue: UK£1.17m (up 108% from 1H 2022). Net loss: UK£1.48m (loss widened 34% from 1H 2022). Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Independent Non-Executive Director Rajesh Kedia was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 30
Full year 2022 earnings released: UK£0.027 loss per share (vs UK£0.02 loss in FY 2021) Full year 2022 results: UK£0.027 loss per share (further deteriorated from UK£0.02 loss in FY 2021). Revenue: UK£1.65m (up 47% from FY 2021). Net loss: UK£1.92m (loss widened 51% from FY 2021). Board Change • May 31
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Independent Non-Executive Director Rajesh Kedia was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Dec 03
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: UK£0.013 loss per share. Net loss: UK£1.11m (flat on 1H 2021). Revenue was in line with analyst estimates. Reported Earnings • Sep 18
Full year 2021 earnings released: UK£0.026 loss per share (vs UK£0.015 loss in FY 2020) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2021 results: Revenue: UK£1.12m (up 42% from FY 2020). Net loss: UK£1.28m (loss widened 40% from FY 2020). Duyuru • Dec 23
Tirupati Graphite PLC, Annual General Meeting, Dec 23, 2020 Tirupati Graphite PLC, Annual General Meeting, Dec 23, 2020, at 10:00 Coordinated Universal Time. Duyuru • Dec 19
Tirupati Graphite plc Launches New Flame Retardant Graphite Composite Tirupati Graphite plc announced that it has successfully developed and commercialised technology to manufacture flame retardant polyurethane foam (FRF), which conforms to Hazard Level 3 (highest level) of European Standard EN 45545 - Fire Protection on Railway Vehicles (the 'Standard'), and an expandable graphite based flame retardant composite (FRC) for use in manufacture of the FRF at its Patalganga Plant in India. The FRC is being produced to the latest European approved Standard aimed at protecting passengers and staff against onboard fire incidents on railway vehicles and defines the requirements for the fire behaviour of materials and components including the foam used in passenger coach seats and berths, a Standard which has recently been adopted by the Indian Railways. Tirupati developed the FRF at its Patalganga plant, and the product was successfully tested in an accredited European laboratory and achieved approval from the Indian Railways for use in its passenger train seats and berths. Duyuru • Dec 18
Tirupati Graphite plc Secures Sales Contract Tirupati Graphite plc announced that following completion of successful FRF and FRC development, Tirupati has received an initial procurement order of FRC from the Buyer at a price exceeding USD 4,000/MT, enabling the Buyer to manufacture enough FRF for 50 carriages with further sales expected on a continued basis. In November 2019, Indian Railways adopted the latest European Union requirements complying with Hazard Level 3 of European Standard EN 45545 - Fire Protection on Railway Vehicles (the 'Standard') for flame retardant polyurethane foam ('FRF') used in passenger coaches, seats and berths across Europe. In June 2020 Tirupati entered into a Technology Consultancy and Offtake Agreement with an Indian manufacturer and registered supplier to Indian Railways of railway coaches and components, to formulate and develop a FRF sample, compliant with the new Standard for a total development fee of £20,000. The key terms of this agreement are set out below: Tirupati shall develop the formulation for and sample of FRF on best efforts basis, including the FRC required to achieve the Standard, the Buyer would pay a non-refundable development fee of £10,000 upfront and further £10,000 upon successful development of the FRF, upon successful development of the FRF, the Buyer shall buy all its requirements of the FRC for the manufacturing of FRF exclusively from Tirupati for a minimum period of 3 years, tirupati shall retain all IP and have no obligation to disclose any technical details except as is required by the Buyer for the manufacturing of the FRF and tirupati shall be at liberty to license the technology and sell its FRC to any party outside India or to any entity not being a supplier of FRF to the Indian Railways. Duyuru • Dec 15
Tirupati Graphite PLC has completed an IPO in the amount of £6 million. Tirupati Graphite PLC has completed an IPO in the amount of £6 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 13,333,334
Price\Range: £0.45
Discount Per Security: £0.00225
Transaction Features: Regulation S