REG - Tirupati Graphite - Issue of Subscription Shares &Total Voting Rights

Tirupati GraphiteAnnouncement

07/05/2024 09:45

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RNS Number : 4082N  Tirupati Graphite PLC  07 May 2024

 7  May 2024

Tirupati Graphite plc

 

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

 

Issue of Subscription Shares and Total Voting Rights

 

Tirupati Graphite plc (TGR.L), the specialist Flake Graphite company and
supplier of the critical mineral for the global energy transition, is pleased
to announce the issue of 5,209,090 ordinary shares of £0.025 each in the
capital of the Company (the 'Subscription Shares') per 17 January 2024 RNS,
for amounts owing by the Company to the persons listed below agreed in respect
of past fees or remuneration salary sacrifice, in respect of their office with
or engagement by the Company.

 

 Subscription announced Jan Issued May 2024
 Sl No                   Subscriber Name              Subscription shares  Amount
 1                       Mr Shishir Kumar Poddar      2,727,273            £300,000.00
 2                       Ms Isabel de Salis           109,091              £12,000.00
 3                       Mr Hemant Kumar Poddar       454,545              £50,000.00
 4                       Mr Uday Pratap Singh         200,000              £22,000.00
 5                       Ms Puruvi Poddar             1,363,636            £150,000.00
 6                       Mr Christian St John Dennis  300,000              £33,000.00
 7                       Mr Alastair Bath             54,545               £6,000.00
 Total                                                5,209,090            £573,000.00

 

 

*The £50,000 cash subscription per 17 January 2024 RNS from Erden Investments
Limited, a family-owned Company of Mr. Murat Erden, was not received by the
Company.*

 

Per 17 January 2024 RNS, to avoid the Company incurring additional costs in
respect of regulatory requirements under the U.K. Prospectus Regulation
regime, the issue and admission of the Subscription Shares was deferred until
such date as the Company had sufficient headroom to admit the Subscription
Shares without having to issue a prospectus.

 

Admission and Total Voting Rights

 

The Subscription Shares will rank pari passu with the existing ordinary shares
of £0.025 each of the Company ('Ordinary Shares') and the Subscription is
conditional only on admission of the Subscription 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, with such admission
and trading expected to become effective on or about 8.00 a.m. around 10 May
2024 ('Admission').

 

Following the issue of Subscription Shares the Company's issued share capital
will comprise 129,508,310 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.

 

ENDS

 

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

 

 Tirupati Graphite Plc                          

 Puruvi Poddar - Joint Managing Director       admin@tirupatigraphite.co.uk

                                               +44 (0) 20 39849894
 CMC Markets UK Plc (Joint Broker)

 Douglas Crippen                               +44 (0)20 3003 8632
 Optiva Securities Limited (Joint Broker)

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

  
 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. 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 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          In production: 18,000tpa capacity
 Madagascar    Vatomina          In production: 12,000tpa capacity
 Mozambique    Montepuez         100,000tpa permitted, development-initiated
 Mozambique    Balama Central    58,000tpa permitted, development-ready

 

 

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