TIDMTGR
RNS Number : 4572I
Tirupati Graphite PLC
14 December 2020
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14 December 2020
Tirupati Graphite plc ('Tirupati' or the 'Company')
First Day of Dealings and Green Economy Mark Accreditation
Tirupati Graphite plc, the fully integrated, revenue generative,
specialist graphite and graphene producer with operations in
Madagascar and India, is pleased to announce that at 08.00 today
its ordinary shares commenced trading on the Main Market for listed
securities of the London Stock Exchange plc ('LSE') under the
ticker TGR ('Admission'). As part of the Admission process, the
Company has raised GBP6 million before expenses through a Placing,
Subscription and Intermediaries Offer of 13,333,334 new ordinary
shares at an issue price of 45p each, implying a market
capitalisation of circa GBP33.64 million on Admission.
The Company is also pleased to confirm that it has received the
LSE's Green Economy Mark, which recognises companies that derive
50% or more of their total annual revenues from products and
services that contribute to the global green economy.
Optiva Securities Limited is Broker to the Company, and
PrimaryBid Limited was Advisor to the Intermediaries Offer.
Overview
-- Revenue generative, integrated natural and specialty graphite and graphene company
o Primary mining and processing in Madagascar
o Hi-tech specialty graphite processing in India
o Graphene manufacture and application research in India
-- LSE Green Economy Mark accredited with established green
technologies contributing to a low-carbon economy and giving it
focus from the ever-growing global ESG investment community
-- Defined development plans to advance its
multi-asset/jurisdiction strategy, establishing businesses with
industry leading capex intensity and lowest quartile costs, high
earning potential and positioning itself as a comprehensive
contributor in the flake graphite value chain
-- Highly experienced team with 100+ years of collective
experience in graphite, requisite technical capabilities and
commercial expertise needed to develop the projects and fast-track
delivery of the planned development
-- Core Company principles focused on creating value for the
planet, employees, local communities, and shareholders
Shishir Poddar, CEO of Tirupati Graphite, said, "We are
delighted to commence trading as the LSE's first pure play graphite
producer. With this milestone reached we have a very exciting
opportunity to continue to expand our primary mining and processing
operations in Madagascar and downstream value-add operations in
India and become a global leader in the graphite market, as well as
offering additional upside through our graphene development.
"The successful GBP6 million fundraising, which saw key
institutions and retail investors join our share register,
highlights the qualities of our business being revenue generative
with high quality resource assets, proven low-cost operations,
robust economics, supportive jurisdictions, access to end markets,
and a team with a track record of delivery in the graphite space.
Additionally, our green credentials should not be ignored: we use
cleaner processing technologies than any other business in the
space and our products support numerous green applications focused
on delivering sustainability targets worldwide. It is in
recognition of this that we have been awarded the prestigious LSE
Green Economy Mark, which we are incredibly proud of.
"In terms of market dynamics, graphite itself is a special
material with unique properties with over 150 applications,
including its key role in EV batteries, which is why flake graphite
has been classified as a critical raw material by both the US and
the EU. Graphene is equally extraordinary; its amazing strength,
conductivity and flexibility amongst other properties, is set to
revolutionise the world of advanced materials with vast amounts of
technological developments happening across a range of sectors and
applications including fast-charging and foldable phones, consumer
wearables, supercapacitors, energy storage, aerospace, automotive,
defence, medical, high-end sensors, desalination and filtration;
the list is virtually unlimited. We believe a number of these are
on the cusp of mass commercialisation over the next few years and
we plan to be at the forefront of some of these potentially world
changing, technological advancements.
"The graphite market has already risen 8-10% in the last quarter
and we believe this upward trajectory will continue as demand
continues to rise. Given the high volume of activity and steady
stream of news ahead for the Company, I am confident that we will
deliver value to shareholders and look forward to having a regular
dialogue with the London market."
Further information on the Company, including the prospectus
published in conjunction with Admission, can be found on the
Company's website: www.tirupatigraphite.co.uk.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
** ENDS **
For further information, please visit
https://www.tirupatigraphite.co.uk/ or contact:
Tirupati Graphite Plc
Puruvi Poddar +44 (0) 20 3984 9894
Optiva Securities Limited (Broker)
Daniel Ingram +44 (0) 20 3137 1902
---------------------
PrimaryBid Ltd (Intermediaries Advisor)
James Deal / Fahim Chowdhury +44 (0) 20 3026 4750
---------------------
St Brides Partners Ltd (Financial PR)
Charlotte Page / Cosima Akerman +44 (0) 20 236 1177
---------------------
Notes
Tirupati Graphite Plc is a revenue-generative, multi-asset,
multi-jurisdictional, fully integrated producer and developer of
high-grade natural flake graphite, speciality graphite and
graphene, which captures the entire value chain. With a unique set
of properties, graphite has diverse applications with multiple
growth streams and graphene forms the new generation of 2D
materials. In support of this, the Company places a special
emphasis on "green" applications, including renewable energy
generation, energy storage and composites, and is committed to
ensuring its operations are sustainable as well.
The Company's operations include primary mining and processing
in Madagascar, where the Company operates two key projects,
Sahamamy and Vatomina; 3,000 tonnes p/a of high-quality flake
graphite concentrate with up to 96% purity is currently being
produced and sold to customers globally, and this is planned to
increase to 81,000 tonnes p/a by 2024 as per the Company's modular
medium-term development plan.
In India, the Company processes and produces speciality graphite
for use in hi-tech applications like lithium-ion batteries, fire
retardants and composites. Its specialty graphite processing
operations include the 1,200 tonnes p/a Patalganga Project, which
was successfully commissioned in July 2019 to manufacture and sell
CARBOFLAMEX(R), a trademarked fire-retardant expandable graphite
product. At the next stage of development, Patalganga shall further
be expanded to 4,800 tonnes p/a capacity with capabilities to also
produce high purity and micronised graphite, so increasing market
and product reach by 2021. The Company has developed unique green
processing technologies for manufacturing these advanced
materials.
After establishing itself in the specialty graphite markets
through the Patalganga Project, an additional 24,000 tonnes p/a
specialty graphite processing facility is to be established in two
12,000 tonnes p/a phases. The plant will produce expandable, high
purity, micronised and spherical graphite. The west coast of India
has been chosen as the location and a detailed feasibility study
has been completed. Tirupati is also in the process of establishing
the Tirupati Graphene and Mintech Research Centre, a
state-of-the-art R&D centre focussed on producing graphene,
developing its applications, and further providing environmentally
friendly technologies consultancy for mineral processing. Land
acquisition is in progress in Bhubaneswar, India, and a detailed
feasibility study completed.
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END
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