Tirupati Graphite PLC Conversion of Loan Notes & Total Voting Rights (2846H)
August 02 2021 - 9:00AM
UK Regulatory
TIDMTGR
RNS Number : 2846H
Tirupati Graphite PLC
02 August 2021
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.
2 August 2021
Tirupati Graphite plc ('Tirupati' or the 'Company')
Conversion of Loan Notes &
Total Voting Rights
Tirupati Graphite plc, the fully integrated, revenue generating,
specialist graphite producer and graphene and advanced materials
developer, announces that a number of holders ("Noteholders") of
the convertible loan notes of par value GBP1.00 each issued by
Tirupati on 17 May 2019 ("CLN's), have elected to convert 114,000
CLN's into 253,333 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, 253,333 new Ordinary Shares (the "Conversion
Shares") will be issued to the Noteholders. 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 6th August 2021
("Admission").
Following Admission, the total issued share capital of the
Company will consist of 86,207,767 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.
** 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) info@stbridespartners.co.uk
Isabel de Salis / Catherine Leftley
----------------------------
Notes
Tirupati Graphite Plc is a revenue-generating, multi-asset,
multi-jurisdictional, fully integrated producer and developer of
high-grade natural flake graphite, speciality graphite and graphene
and graphene enhanced advanced materials. With a unique set of
properties, graphite has diverse applications with multiple growth
streams and graphene forms the new generation of 2D and advanced
materials. The Company places a special emphasis on "green"
applications, including renewable energy and energy efficiency,
energy storage, thermal management, and advanced materials
development, 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, with an additional 9,000 tpa capacity
expected to be commissioned soon, 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 is developing a suite of
speciality graphite for use in hi-tech applications like
lithium-ion batteries, fire retardants, thermal management, and
composites. Its current operations include the 1,200 tpa Patalganga
Project, focused on manufacturing the Company's trademarked
expandable graphite products CARBOFLAMEX(R) and GrafEN 45545(TM).
TSG is further developing 30,000 tpa specialty graphite project in
two equal size modules and has developed unique green processing
technologies for manufacturing these advanced materials.
TSG is also developing the Tirupati Graphene and Mintech
Research Centre ('TGMRC'), a state-of-the-art R&D centre
focussed on manufacturing graphene, developing its applications and
advanced materials using graphene, and further providing
environmentally friendly technologies consultancy for mineral
processing. Commercial operations commenced in July 2021 having
completed Stage 1 of the centre's development plan.
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END
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