Tirupati Graphite PLC Transaction Update -- Variation of Long Stop Date (6095J)
April 28 2022 - 2:01AM
UK Regulatory
TIDMTGR
RNS Number : 6095J
Tirupati Graphite PLC
28 April 2022
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
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Thursday 28 April 2022
Tirupati Graphite plc ('Tirupati' or the 'Company')
Transaction Update - Variation of Long Stop Date
Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist
graphite and graphene company developing sustainable new age
materials, announces the following update to its agreement to
acquire the entire issued share capital of Suni Resources SA from
Battery Minerals Limited as announced on 17 August 2021. The
acquisition of Suni Resources will mean that Tirupati will hold the
advanced Montepuez and Balama Central graphite projects in
Mozambique, alongside associated technical intellectual property
related to the assets.
To facilitate the receipt of all necessary Mozambique government
approvals for the transaction, all parties have agreed for the Long
Stop Date for the transaction to be extended by three months to 29
July 2022, with further extensions possible if required.
The completion of the acquisition is pending regulatory approval
and all supporting documentation has been submitted to Mozambique's
Minister of Natural Resources and Energy.
Further information is available in Battery Minerals Limited's
stock market announcement made earlier today for the Australian
market.
ENDS
For further information, please visit
https://www.tirupatigraphite.co.uk/ or contact:
Tirupati Graphite Plc
Puruvi Poddar - Chief of Corporate & Business admin@tirupatigraphite.co.uk
Development +44 (0) 20 39849894
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 / Nick Hennis / Kelly Smith tirupati@fticonsulting.com
About Tirupati Graphite
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; 12,000 tpa installed capacity of
high-quality flake graphite concentrate with up to 96% purity is
currently being produced and sold to customers globally, planned to
increase to 84,000 tpa by end 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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END
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