Tirupati Graphite PLC Acquisition Update (5555N)
September 30 2021 - 5:50AM
UK Regulatory
TIDMTGR
RNS Number : 5555N
Tirupati Graphite PLC
30 September 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 which is
part of UK law by virtue of the European Union (Withdrawal) Act
2018. Upon the publication of this announcement this information is
considered to be in the public domain.
30 September 2021
Tirupati Graphite plc ('Tirupati' or the 'Company')
Acquisition Update
Tirupati Graphite plc, the fully integrated, revenue generating,
specialist graphite producer and graphene and advanced materials
developer, is pleased to note the announcement released by ASX
listed Battery Minerals Limited ("Battery Minerals") confirming
that its shareholders had approved the disposal of its interests in
its Mozambique assets at its General Meeting held earlier
today.
As announced 17 August 2021, Tirupati has agreed to acquire the
entire issued share capital of Suni Resources SA (the
"Acquisition") from Battery Minerals, which holds the construction
initiated Montepuez Graphite Project and the advanced feasibility
study stage Balama Central Graphite Project.
Battery Minerals' shareholder approval paves the way for the
requisite in-country approvals for the Acquisition to be obtained,
principally from the Ministry of Mineral Resources and Energy in
Mozambique.
Shishir Poddar, CEO of Tirupati Graphite, said, "We are
delighted that Battery Minerals' shareholders have given their
approval, which passes the first of the two major milestones to
completing the A cquisition of these advanced stage projects. The
Acquisition will be helpful in our endeavours to be a material
player in the high growth EV and battery markets as the two
projects have substantial reserves and resources, provide us
diversity of risks, and expand our production profile given the
nature of the deposits and the graphite product output. We look
forward to updating the market further on progress with the
in-country formalities to complete the Acquisition."
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
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