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REG - Tirupati Graphite - Issue of Consideration Shares

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RNS Number : 0660X  Tirupati Graphite PLC  18 December 2023

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.

 

18 December 2023

Tirupati Graphite plc

('Tirupati', 'TG' or the 'Company')

 

            Issue of Consideration Shares and Total Voting Rights

 

Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist Flake Graphite
company and supplier of the critical mineral for the global energy transition,
is pleased to announce the issue of 6,556,554 consideration shares to Battery
Minerals Limited ("BAT") as part of tranche 2 of the acquisition agreement of
Suni Resources SA (See RNS 19th April 2023).

 

Admission of the Consideration Shares to the Standard Segment of the Official
List of the Financial Conduct Authority ("FCA") and to trading on the Main
Market of the London Stock Exchange, is expected to become effective on or
around 8.00 a.m. on Wednesday 20 December 2023 ("Admission").

 

Following the issue of Consideration Shares the Company's issued share capital
will comprise 114,799,220 ordinary shares of £0.025 each. The above figure
may be used by shareholders as the denominator for the calculations by which
they will determine whether they are required to notify their interest in, or
a change to their interest in, the Company under the Financial Conduct
Authority's Disclosure and Transparency Rules.

 

Shishir Poddar Executive Chairman said:

 

"Concluding the acquisition of Suni Resources is a significant milestone for
the Company as it has acquired two advanced stage, world-class and
construction ready natural Graphite projects in the world's largest Graphite
producing region outside of China, in northern Mozambique. This comes at a
time of major tailwinds for companies outside of China able to offer current
and near-term supply from quality projects, and we look forward to updating
the market further in due course."

 

ENDS

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

 

 Tirupati Graphite Plc

 Puruvi Poddar - Chief of Corporate & Business Development        admin@tirupatigraphite.co.uk (mailto:admin@tirupatigraphite.co.uk)

                                                                  +44 (0) 20 39849894
 Optiva Securities Limited (Joint Broker)

 Ben Maitland - Corporate Finance                                 +44 (0) 20 3034 2707

 Holly Ritson - Corporate Broking                                 +44 (0) 20 3981 4173

 Shard Capital Partners LLP (Joint Broker)

 Isabella Pierre - Corporate Broking                              +44 20 71869927

 Damon Heath - Corporate Broking                                  +44 20 7186 9950
 FTI Consulting (Financial PR)                                    +44 (0) 20 3727 1000

 Ben Brewerton / Nick Hennis / Lucy Wigney                        tirupati@fticonsulting.com

 

 

About Tirupati Graphite

 

Tirupati Graphite Plc is a specialist Graphite producer and a supplier of
critical minerals for a decarbonised economy and the energy transition. The
Company places a special emphasis on green applications including renewable
energy, e-mobility, energy storage and thermal management, and is committed to
ensuring its operations are sustainable.

The Company's operations include primary mining and processing in Madagascar
where the Company operates two key projects, Sahamamy and Vatomina with a
combined 30,000 tpa of currently installed capacity, producing high-quality
flake graphite concentrate with up to 97% purity and selling to customers
globally.

The Company has also acquired two advanced stage, world class, natural
graphite projects in Mozambique. Work has already commenced to optimise the
economics for development of the Montepuez graphite project, which is
permitted for 100,000tpa production and where substantial construction work
has already been undertaken by the previous operator.

 

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