Tirupati Graphite PLC Extension of Warrants (1096L)
December 28 2022 - 8:01AM
UK Regulatory
TIDMTGR
RNS Number : 1096L
Tirupati Graphite PLC
28 December 2022
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this information is considered to be in the public
domain.
28 December 2022
Tirupati Graphite plc
('Tirupati' or the 'Company')
Extension of Warrants
Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist flake
graphite company announces that the Board has extended the expiry
date on 4,940,000 warrants previously issued to Directors and
management from their current expiry date, as per the table below.
All other terms of the warrants remain the same.
Since Tirupati was admitted to the Official List of the FCA (by
way of a standard listing under Chapter 14 of the Listing Rules)
and to trading on the Main Market for listed securities of the
London Stock Exchange in December 2020, the Directors and
management have been restricted from trading in the securities of
the Company for a substantial part of that period. As such, the
Board had granted extension to provide a reasonable opportunity for
warrants to be exercised as announced on 30 December 2021. There
has, however, been very limited opportunity for exercise of the
these warrants since then as a result of the Company being in close
periods during the year during which the directors have not been
permitted to exercise the warrants. The warrants remain the only
significant equity linked incentive provided by the Company to its
leadership team.
The Board has therefore considered it appropriate to grant a
further extension of the expiry date for all the outstanding
warrants as tabulated below to 31 December 2025; the longer-term is
designed to avoid a similar situation occurring as in 2022.
Warrant Holder No of warrants Exercise Current expiry Extended expiry
Price date date
Hemant Poddar 200,000 GBP0.300 31-12-2022 31-12-2025
------------------ --------- --------------- ----------------
Christian St. John-Dennis 200,000 GBP0.300 31-12-2022 31-12-2025
------------------ --------- --------------- ----------------
Shishir Poddar 600,000 GBP0.300 31-12-2022 31-12-2025
------------------ --------- --------------- ----------------
Hemant Poddar 240,000 GBP0.400 31-12-2022 31-12-2025
------------------ --------- --------------- ----------------
Christian St. John-Dennis 240,000 GBP0.400 31-12-2022 31-12-2025
------------------ --------- --------------- ----------------
Rajesh Kedia 140,000 GBP0.400 31-12-2022 31-12-2025
------------------ --------- --------------- ----------------
Shishir Poddar 900,000 GBP0.400 31-12-2022 31-12-2025
------------------ --------- --------------- ----------------
Puruvi Poddar 320,000 GBP0.400 31-03-2023 31-03-2025
------------------ --------- --------------- ----------------
Hemant Poddar 240,000 GBP0.400 31-12-2023 31-12-2025
------------------ --------- --------------- ----------------
Christian St. John-Dennis 240,000 GBP0.400 31-12-2023 31-12-2025
------------------ --------- --------------- ----------------
Rajesh Kedia 240,000 GBP0.400 31-12-2023 31-12-2025
------------------ --------- --------------- ----------------
Shishir Poddar 900,000 GBP0.400 31-12-2023 31-12-2025
------------------ --------- --------------- ----------------
Puruvi Poddar 480,000 GBP0.400 31-03-2024 31-03-2025
------------------ --------- --------------- ----------------
**S **
For further information, please visit
https://www.tirupatigraphite.co.uk/ or contact:
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 / Nick Hennis / Kelly Smith tirupati@fticonsulting.com
1. Details of the person discharging managerial responsibilities ("PDMR")/person
closely associated
a) Name: 1. Shisir Poddar
2. Henant Poddar
3. Christian Dennis
4. Rajesh Kedia
5. Puruvi Poddar
------------------------------- ---------------------------------------------------------------
2. Reason for the notification
------------------------------------------------------------------------------------------------
a) Position/status: 1. Executive Chairman
2. Non-Executive Director
3. Non-Executive Director
4. Non-Executive Director
5. Chief of Corporate & Business Development
------------------------------- ---------------------------------------------------------------
b) Initial notification/Amendment: Amendment notification
------------------------------- ---------------------------------------------------------------
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
------------------------------------------------------------------------------------------------
a) Name: Tirupati Graphite Plc
------------------------------- ---------------------------------------------------------------
b) LEI: 2138006PQV9F72H17783
------------------------------- ---------------------------------------------------------------
4. Details of the transaction(s): section to be repeated for (i) each
type of instrument; (ii) each type of transaction; (iii) each date;
and (iv) each place where transactions have been conducted
------------------------------------------------------------------------------------------------
a) Description of the financial Ordinary shares of GBP0.025 each
instrument, type of instrument: GB00BFYMWJ95
Identification code:
----------------------------------------- -----------------------------------------------------
b) Nature of the transaction: Extension of Warrants expiry
----------------------------------------- -----------------------------------------------------
c) Price(s) and volume(s): Price Volume PDMR
1 GBP0.300 200,000 Hemant Poddar
--------- -------- --------------------------
2 GBP0.300 200,000 Christian St. John-Dennis
--------- -------- --------------------------
3 GBP0.300 600,000 Shishir Poddar
--------- -------- --------------------------
4 GBP0.400 240,000 Hemant Poddar
--------- -------- --------------------------
5 GBP0.400 240,000 Christian St. John-Dennis
--------- -------- --------------------------
6 GBP0.400 140,000 Rajesh Kedia
--------- -------- --------------------------
7 GBP0.400 900,000 Shishir Poddar
--------- -------- --------------------------
8 GBP0.400 320,000 Puruvi Poddar
--------- -------- --------------------------
10 GBP0.400 240,000 Hemant Poddar
--------- -------- --------------------------
11 GBP0.400 240,000 Christian St. John-Dennis
--------- -------- --------------------------
12 GBP0.400 240,000 Rajesh Kedia
--------- -------- --------------------------
13 GBP0.400 900,000 Shishir Poddar
--------- -------- --------------------------
14 GBP0.400 480,000 Puruvi Poddar
--------- -------- --------------------------
----------------------------------------- -----------------------------------------------------
d) Aggregated information: Price Volume
Aggregated volume: 1. GBP0.30 1,000,000
Price: -------- ----------
2. GBP0.40 3,940,000
-------- ----------
----------------------------------------- -----------------------------------------------------
e) Date of the transaction: 27 December 2022
----------------------------------------- -----------------------------------------------------
f) Place of the transaction: Outside a trading venue
----------------------------------------- -----------------------------------------------------
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END
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