REG - Tirupati Graphite - Issue of Shares, PDMR, and Total Voting Rights

Tirupati GraphiteAnnouncement

06/01/2025 18:15

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RNS Number : 3104S  Tirupati Graphite PLC  06 January 2025

 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.

 

 

6 January 2025

Tirupati Graphite plc

 

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

 

Issue of Shares, PDMR, and Total Voting Rights

 

Tirupati Graphite (TGR.L), the specialist flake graphite company and supplier
of the critical mineral for the global energy transition, announces that at a
Board Meeting held on 9 December 2024, the sitting Board directors as at that
date approved the issue of ordinary shares in lieu of remuneration.

 

The following allotment and issue of ordinary shares of £0.025p has been made
by the sitting directors as at 9 December 2024:

·    1,466,660 ordinary shares of £0.025 each in the capital of the
Company issued to Michael Lynch-Bell at an issue price of £0.05 per ordinary
share in certificated form duly marked "pending admission to trading"; and

 

·    7,586,450 ordinary shares of £0.025 each in the capital of the
Company issued to Shishir Poddar at an issue price of £0.05 per ordinary
share in certificated form duly marked "pending admission to trading",

 

(together the "Subscription Shares").

 

 

Admission and Total Voting Rights

 

The admission of the new ordinary shares will be applied upon resumption of
trading of the Company's shares on the London Stock Exchange.

 

The Subscription Shares will rank pari passu with the existing ordinary shares
of £0.025 each of the Company ('Ordinary Shares') and the admission of the
new ordinary shares will be applied upon resumption of trading of the
Company's shares on the London Stock Exchange ('Admission').

 

Following the issue of Subscription Shares the Company's issued share capital
will comprise 138,661,420 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.

 

 1.                                                                      Details of PDMR
 a.                             Name                                      Shishir Poddar

 b.                             Position/status                          Director

 c.                             Initial notification/ amendment          Initial Notification
 2.                                                                      Details of the transaction(s): section to be repeated for (a) each type of
                                                                         instrument; (b) each type of transaction; (c) each date; and (d) each place
                                                                         where transactions have been conducted
 a.                             Description of the financial instrument  Equity Shares
 b.                             Nature of the transaction                Subscription in lieu of salary

 c.                             Price(s) and volume(s)                   Price(s)                                 Volume(s)
                                 0.05p                                                                             7,586,450

 d.                             Aggregated information                   N/A

                                Aggregated volume Price
 e.                             Date of the transaction                  31 December 2024
       f.                       Place of the transaction                 Outside a trading venue

 

 

     1.                                                Details of PDMR
 a.           Name                                      Michael Lynch-Bell

 b.           Position/status                          Director

 c.           Initial notification/ amendment          Initial Notification
 2.                                                    Details of the transaction(s): section to be repeated for (a) each type of
                                                       instrument; (b) each type of transaction; (c) each date; and (d) each place
                                                       where transactions have been conducted
 a.           Description of the financial instrument  Equity Shares
 b.           Nature of the transaction                Subscription in lieu of salary

 c.           Price(s) and volume(s)                   Price(s)                                 Volume(s)
               0.05p                                                                             1,466,660

 d.           Aggregated information                   N/A

              Aggregated volume Price
 e.           Date of the transaction                  31  December 2024
 f.           Place of the transaction                 Outside a trading venue

 

 

 

 ENDS

 

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

 

 Tirupati Graphite Plc                          

 Mark Rollins - Executive Chairman             tirupatigraphitelondon@gmail.com

 Alastair Bath - Investor Relations            +44 7356 057 265
 CMC Markets UK Plc (Broker)

 Douglas Crippen                               +44 (0)20 3003 8632
 Musst / ViTa-Connect (Financial Adviser)       tabrez@vita-connect.co

 Tabrez Khan                                   +44 746 903 3573 / +971 50871 7864

 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 the
critical mineral for a decarbonised economy and the energy transition, with
leading low development capital and operating costs. 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 installed final production nameplate capacity of 30,000tpa, subject
to minor capex additions. The Madagascar operations produce high-quality flake
graphite concentrate with up to 97% purity and selling to customers
globally.

 

The Company also holds 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 predecessor. A table of the Company's projects is provided
below:

 

 Country       Project           Stage
 Madagascar    Sahamamy          Production paused: 18,000tpa nameplate capacity
 Madagascar    Vatomina          In Production: 12,000tpa nameplate capacity
 Mozambique    Montepuez         100,000tpa permitted, construction-initiated
 Mozambique    Balama Central    58,000tpa permitted, development-ready

 

 

 

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