Tirupati Graphite PLC Conversion of Loan Notes & Total Voting Rights (6623M)
January 25 2021 - 2:00AM
UK Regulatory
TIDMTGR
RNS Number : 6623M
Tirupati Graphite PLC
25 January 2021
25(th) January 2021
Tirupati Graphite plc ('Tirupati' or the 'Company')
Conversion of Loan Notes &
Total Voting Rights
Tirupati Graphite plc, the fully integrated, revenue generative,
specialist graphite producer and graphene developer with operations
in Madagascar and India, announces that a holder ("Noteholder") of
the convertible loan notes of par value GBP1.00 each issued by
Tirupati on 17 May 2019 ("CLN's), has elected to convert 40,000
CLN's into 88,889 ordinary shares of 2.5 pence each ("Ordinary
Shares"), at the Company's IPO price in accordance with the
instrument, being a price of 45 pence each in the share capital of
Tirupati.
Accordingly, 88,889 new Ordinary Shares (the "Conversion
Shares") will be issued to the Noteholder. Application has been
made for the admission of the Conversion Shares to trading on the
Main Market of the London Stock Exchange, with such admission
expected to become effective at 8.00 a.m. on 28(th) January 2021
("Admission").
Following Admission, the total issued share capital of the
Company will consist of 74,843,323 ordinary shares of 2.5 pence
each. This number may be used by shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.
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
---------------------
St Brides Partners Ltd (Financial PR)
Isabel de Salis / 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 tpa 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 tpa by 2024 as per the Company's modular medium-term
development plan.
In India, through Tirupati Speciality Graphite Private Limited
('TSG'), with whom the Company has a binding acquisition agreement
subject to regulatory approvals, Tirupati 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 tpa
Patalganga Project, which was 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 tpa capacity with
capabilities to also produce high purity and micronised graphite,
so increasing market and product reach by 2021. TSG 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 tpa specialty
graphite processing facility is to be established in two 12,000 tpa
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 manufacturing graphene, developing its
applications, and further providing environmentally friendly
technologies consultancy for mineral processing.
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END
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