TIDMTGR
RNS Number : 6138Q
Tirupati Graphite PLC
28 October 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.
28 October 2021
Tirupati Graphite plc ('Tirupati' or the 'Company')
Result of AGM & General Meeting
Tirupati Graphite plc, the fully integrated, revenue generating,
specialist graphite producer and graphene and advanced materials
developer, is pleased to announce that it held its Annual General
Meeting ('AGM') at 10 AM this morning and all resolutions proposed
in the notice of meeting sent to the shareholders and dated 29
September 2021 were duly passed on a show of hands.
At a General Meeting of the Company held immediately after the
AGM, the Company sought approval from independent shareholders for
the waiver of obligations that would otherwise arise under Rule 9
of the City Code on Takeovers and Mergers ("Takeover Code") in
respect of certain issues of Ordinary Shares and warrants to
subscribe for Ordinary Shares of the Company as mentioned in the
notice for the General Meeting of the Company dated 29 September
2021 ('the Whitewash Resolution'). The Company is pleased to
announce in accordance with Section 6(a) of Appendix 1 to the
Takeover Code that at the said General Meeting the Whitewash
Resolution set out in the circular to the independent shareholders
dated 29 September 2021 was duly passed on a poll with:
For: 29,016,904
Against: 13,150
Withheld: 15,382
As detailed in the Whitewash Circular issued by the Company on
29 September 2021 (the "Circular"), the Concert Party's total
interest in the Existing Issued Share Capital and voting rights of
the Company at the date of the Circular was 36,364,472 Ordinary
Shares representing 42.18 per cent. of the issued Ordinary Shares
in the Company. The maximum potential interest of the Concert Party
in the voting rights of the Company following the Share Issuance
Arrangements (on the basis of the Assumptions) the maximum number
of Ordinary Shares in issue will be 109,087,767 with the Concert
Party interested in 54,714,472 Ordinary Shares, being 50.15 per
cent. of the issued Ordinary Shares. Full details of the Concert
Party's maximum potential interest are set out in the table
below:
Shareholder No. of No. of No. of Concert No. of Proposed Total No. of Percentage of
Ordinary Consideration Party Existing Warrants Ordinary enlarged
Shares as at Shares Warrants Shares issued share
the date of capital based
this Circular on the
Assumptions
TCCPL 29,565,778 0 0 0 29,565,778 27.10%
--------------- ---------------- --------------- ---------------- --------------- ---------------
Shishir
Poddar 1,789,250 4,600,000 2,400,000 6,000,000 14,789,250 13.55%
--------------- ---------------- --------------- ---------------- --------------- ---------------
Hemant
Poddar 1,027,857 2,500,000 680,000 0 4,207,857 3.85%
--------------- ---------------- --------------- ---------------- --------------- ---------------
Puruvi
Poddar 101,587 750,000 800,000 3,000,000 4,651,587 4.26%
--------------- ---------------- --------------- ---------------- --------------- ---------------
Paridhi
Poddar 0 500,000 0 0 500,000 0.45%
--------------- ---------------- --------------- ---------------- --------------- ---------------
Madhu Poddar 0 500,000 0 0 500,000 0.45%
--------------- ---------------- --------------- ---------------- --------------- ---------------
Trupti
Poddar 0 500,000 0 0 500,000 0.45%
--------------- ---------------- --------------- ---------------- --------------- ---------------
TOTAL 32,484,472 9,350,000 3,880,000 9,000,000 54,714,472 50.15%
--------------- ---------------- --------------- ---------------- --------------- ---------------
Capitalised terms in this paragraph shall have the same meaning
as in the Circular.
ENDS
For further information, please visit
https://www.tirupatigraphite.co.uk/ or contact:
Tirupati Graphite Plc +44 (0) 20 3984 9894
Puruvi Poddar admin@tirupatigraphite.co.uk
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; 12,000 tpa of high-quality flake graphite
concentrate with up to 96% purity is the current capacity of these
projects and flake graphite being produced is sold to customers
globally. The projects are under staged development and total
capacity 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 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.
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END
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