Tirupati Graphite PLC Application for share trading on the OTCQX Market (0469Z)
May 19 2021 - 2:00AM
UK Regulatory
TIDMTGR
RNS Number : 0469Z
Tirupati Graphite PLC
19 May 2021
19 May 2021
Tirupati Graphite plc
('Tirupati' or the 'Company')
Application for share trading on the OTCQX Market
Tirupati Graphite plc, the fully integrated, revenue generative,
specialist graphite producer and graphene and advanced materials
developer with operations in Madagascar and India, is pleased to
announce that it has filed an application to the OTC Markets Group
for the Company's shares to be cross traded publicly on the OTCQX
Market ('OTCQX'), which would make Tirupati's shares more widely
available to North American investors. Tirupati has engaged the
corporate securities law firm of Galanopoulos & Company to act
as its OTC Markets Sponsor in connection with the onboarding.
Trading on the US OTC market would have no impact on existing
Tirupati ordinary shares trading on the Main Market of the London
Stock Exchange and no new ordinary shares will be issued as part of
the cross trade. Tirupati will continue to rely on the
announcements and disclosures it makes to the London Stock Exchange
and will have no Sarbanes-Oxley or SEC reporting requirements in
connection with cross-trading on the OTCQX.
Upon successful application, the cross-trading facility will be
provided through OTC Markets Group Inc., located in New York, USA.
OTC Markets operates the world's largest electronic interdealer
quotation system for US broker dealers and offers multiple media
channels to increase the visibility of OTC-traded companies.
Shishir Poddar, CEO of Tirupati Graphite, said : "The
cross-trading of our shares on the OTCQX Market gives us access to
a deeper pool of capital from U.S. dollar denominated investors in
North America and exposes us to the US investment community, a
region that is showing extensive interest from investors in our
areas of activity. Additionally, listing on the OTCQX will enhance
the Company's visibility in North America where we have many
potential customers for our graphite, graphene, and advanced
materials all-encompassing products. The potential US customer base
for Tirupati includes industry players in the energy storage and
electric vehicles, thermal management and flame retardants,
composites and advanced materials sectors, and more, and for the
new age materials we are developing, and we aim to increase
visibility in the US, which is a massive addressable market for our
full suite of green products.
"Dual trading on the OTC Markets represents an important step
for the Company both for diversification of its share register and
for increasing visibility for buyers. We will update the market on
the progress of our application, ticker code and commencement of
trading of Tirupati shares on OTCQX in due course."
** 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
84,000 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.
TSG 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. Land acquisition is in progress
in Bhubaneswar, India, and a detailed feasibility study
completed.
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