REG - Tirupati Graphite - Extension of Warrants

Tirupati GraphiteAnnouncement

28/12/2022 13:15

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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 Price  Current expiry date  Extended expiry date
 Hemant Poddar                         200,000            £0.300          31-12-2022           31-12-2025
 Christian St. John-Dennis             200,000            £0.300          31-12-2022           31-12-2025
 Shishir Poddar                        600,000            £0.300          31-12-2022           31-12-2025
 Hemant Poddar                         240,000            £0.400          31-12-2022           31-12-2025
 Christian St. John-Dennis             240,000            £0.400          31-12-2022           31-12-2025
 Rajesh Kedia                          140,000            £0.400          31-12-2022           31-12-2025
 Shishir Poddar                        900,000            £0.400          31-12-2022           31-12-2025
 Puruvi Poddar                         320,000            £0.400          31-03-2023           31-03-2025
 Hemant Poddar                         240,000            £0.400          31-12-2023           31-12-2025
 Christian St. John-Dennis             240,000            £0.400          31-12-2023           31-12-2025
 Rajesh Kedia                          240,000            £0.400          31-12-2023           31-12-2025
 Shishir Poddar                        900,000            £0.400          31-12-2023           31-12-2025
 Puruvi Poddar                         480,000            £0.400          31-03-2024           31-03-2025

 

 

** ENDS **

 

For further information, please visit https://www.tirupatigraphite.co.uk/
(https://www.tirupatigraphite.co.uk/) or contact:

 

 Tirupati Graphite Plc                                            admin@tirupatigraphite.co.uk (mailto:admin@tirupatigraphite.co.uk)

 Puruvi Poddar - Chief of Corporate & Business Development        +44 (0) 20 39849894

 Optiva Securities Limited (Broker)                               +44 (0) 20 3034 2707

 Ben Maitland - Corporate Finance                                 +44 (0) 20 3981 4173

 Robert Emmet - Corporate Broking

 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 instrument, type of instrument:         Ordinary shares of £0.025 each

                      Identification code:                                                  GB00BFYMWJ95

 b)                   Nature of the transaction:                                           Extension of Warrants expiry
 c)                   Price(s) and volume(s):                                              Price    Volume                        PDMR
                                                                                           1 £0.300              200,000            Hemant Poddar
                                                                                           2 £0.300              200,000            Christian St. John-Dennis
                                                                                           3 £0.300              600,000            Shishir Poddar
                                                                                           4 £0.400              240,000            Hemant Poddar
                                                                                           5 £0.400              240,000            Christian St. John-Dennis
                                                                                           6 £0.400              140,000            Rajesh Kedia
                                                                                           7 £0.400              900,000            Shishir Poddar
                                                                                           8 £0.400              320,000            Puruvi Poddar
                                                                                           10  £0.400              240,000            Hemant Poddar
                                                                                           11  £0.400              240,000            Christian St. John-Dennis
                                                                                           12  £0.400              240,000            Rajesh Kedia
                                                                                           13  £0.400              900,000            Shishir Poddar
                                                                                           14  £0.400              480,000            Puruvi Poddar

 
 d)                   Aggregated information:                                              Price   Volume

                                                                    1.  £0.30   1,000,000
                      Aggregated volume:                                                   2.  £0.40   3,940,000

                      Price:
 

 e)                   Date of the transaction:                                             27 December 2022
 f)                   Place of the transaction:                                            Outside a trading venue

 

d)

Aggregated information:

Aggregated volume:

Price:

     Price   Volume
 1.  £0.30   1,000,000
 2.  £0.40   3,940,000

 

 

e)

Date of the transaction:

27 December 2022

f)

Place of the transaction:

Outside a trading venue

 

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