Tirupati Graphite PLC Extension of Warrants (5688J)
December 22 2020 - 8:46AM
UK Regulatory
TIDMTGR
RNS Number : 5688J
Tirupati Graphite PLC
22 December 2020
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this information is considered to be in the public
domain.
22 December 2020
Tirupati Graphite plc ('Tirupati' or the 'Company')
Extension of Warrants
Tirupati Graphite plc, the fully integrated, revenue generative,
specialist graphite and graphene producer with operations in
Madagascar and India, today announces that it has extended the
expiry date on certain warrants issued to a number of Directors by
an additional six months.
The expiry date on a total of 1,000,000 warrants issued on 31
December 2017 and exercisable at GBP0.30 per warrant (the
'Warrants') has been extended from 31 December 2020 to 30 June
2021. All other terms remain the same.
Accordingly, the revised terms of the Warrants granted to
certain Directors are as follows:
Director No. of Warrants Exercise Price Issue Date New Expiry
Date
Shishir Poddar 600,000 GBP0.30 31/12/17 30/6/21
---------------- --------------- ----------- -----------
Hemant Podder 200,000 GBP0.30 31/12/17 30/6/21
---------------- --------------- ----------- -----------
Christian 200,000 GBP0.30 31/12/17 30/6/21
Dennis
---------------- --------------- ----------- -----------
** 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
---------------------
St Brides Partners Ltd (Financial PR)
Isabel de Salis / Catherine Leftley
/ 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.
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: 1. Shisir Poddar
2. Henant Poddar
3. Christian Dennis
------------------------------- -------------------------------------------------
2. Reason for the notification
----------------------------------------------------------------------------------
a) Position/status: 1. Executive Chairman
4. Non-Executive Director
5. Non-Executive Director
------------------------------- -------------------------------------------------
b) Initial notification/Amendment: Initial notification
------------------------------- -------------------------------------------------
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
----------------------------------------------------------------------------------
a) Name: Tirupati Graphite Plc
------------------------------- -------------------------------------------------
b) LEI: 2138006PQV9F72H17783
------------------------------- -------------------------------------------------
4. Details of the transaction(s): section to be repeated for (i) each
type of instrument; (ii) each type of transaction; (iii) each date;
and (iv) each place where transactions have been conducted
----------------------------------------------------------------------------------
a) Description of the financial Ordinary shares of GBP0.025 each
instrument, type of instrument: GB00BFYMWJ95
Identification code:
----------------------------------------- ---------------------------------------
b) Nature of the transaction: Extension of Warrants
----------------------------------------- ---------------------------------------
c) Price(s) and volume(s): Price Volume
1. GBP0.30 600,000
-------- --------
2. GBP0.30 200,000
-------- --------
3. GBP0.30 200,000
-------- --------
----------------------------------------- ---------------------------------------
d) Aggregated information:
Aggregated volume: Price Volume
Price: 1. GBP0.30 600,000
-------- --------
2. GBP0.30 200,000
-------- --------
3. GBP0.30 200,000
-------- --------
----------------------------------------- ---------------------------------------
e) Date of the transaction: 20 December 2020
----------------------------------------- ---------------------------------------
f) Place of the transaction: Outside a trading venue
----------------------------------------- ---------------------------------------
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