Tirupati Graphite PLC Conversion of Convertible Loan Notes (2566U)
December 01 2021 - 9:29AM
UK Regulatory
TIDMTGR
RNS Number : 2566U
Tirupati Graphite PLC
01 December 2021
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 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.
1 December 2021
Tirupati Graphite plc
('Tirupati' or the 'Company')
Conversion of Convertible Loan Notes
& Total Voting Rights
Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist
graphite and graphene company developing sustainable new age
materials, announces that a holder ("Noteholder") of Convertible
Loan Notes of par value GBP1.00 each issued by Tirupati on 17 May
2019 ("CLN's"), have elected to convert 160,000 CLN's into 355,556
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 per Ordinary Share.
Accordingly, 355,556 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 3 December 2021
("Admission").
Following Admission, the total issued share capital of the
Company will consist of 86,563,323 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.
** ENDS **
Enquiries:
Tirupati Graphite Plc admin@tirupatigraphite.co.uk
Puruvi Poddar - Chief of Corporate & Business +44 (0) 20 39849894
Development
Optiva Securities Limited (Broker)
Ben Maitland - Corporate Finance +44 (0) 20 3034 2707
Robert Emmet - Corporate Broking +44 (0) 20 3981 4173
FTI Consulting (Financial PR) +44 (0) 20 3727 1000
Ben Brewerton / Ojasvi G oel / Alessandro Rubin tirupati@fticonsulting.com
/ Kelly Smith
Notes
Tirupati Graphite Plc is the specialist graphite and graphene
company developing sustainable new age 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 expanding the Patalganga Project to 4,800 tpa and
developing the 30,000 tpa specialty graphite project in two 15,000
tpa modules which will include capabilities to manufacture
high-purity, expandable, micronized and spherical graphite and
using its unique green processing technologies for the
manufacturing of these advanced materials.
TSG has also established and continues to develop the Tirupati
Graphene and Mintech Research Centre, 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.
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