Tirupati Graphite PLC Transaction Update - Variation of Long Stop Date (5523X)
August 30 2022 - 2:02AM
UK Regulatory
TIDMTGR
RNS Number : 5523X
Tirupati Graphite PLC
30 August 2022
30 August 2022
Tirupati Graphite plc
('Tirupati', 'TG' or the 'Company')
Transaction Update - Variation of Long Stop Date
Tirupati Graphite plc
('Tirupati', 'TG' or the 'Company')
Transaction Update - Variation of Long Stop Date
Tirupati Graphite plc (TGR.L, TGRHF.OTCQX) advises that to
facilitate the receipt of all necessary Mozambique government
approvals in respect of its agreement to acquire the entire issued
share capital of Suni Resources SA from Battery Minerals Limited,
as announced on 17 August 2021, the parties have agreed for the
Long Stop Date to be extended to Wednesday 30 September 2022. The
completion of the acquisition is pending approval as per statute
from the Government of Mozambique.
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 a specialist graphite and graphene
company. The Company places a special emphasis on "green"
applications, including renewable energy and energy efficiency,
energy storage and thermal management 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.
The Company has an acquisition agreement, subject to regulatory
approvals, with Tirupati Speciality Graphite Private Limited
('TSG'). TSG operates and is developing a suite of speciality
graphite for use in hi-tech applications like lithium-ion
batteries, fire retardants, thermal management, and composites. It
also operates a technology centre developing advanced materials
including graphene and its applications, and mineral processing
technology on commercial basis. The Company is working on various
possibilities in this respect as announced by RNS on 11 July
2022.
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END
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