REG - Tirupati Graphite - Prospectus, Restoration of Trading, CLN Conversion

Tirupati GraphiteAnnouncement

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RNS Number : 9061X  Tirupati Graphite PLC  24 March 2026

24 March 2026

Tirupati Graphite plc

('Tirupati' or the 'Company')

Publication of Prospectus,  Restoration of Trading & Conversion Notice

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 publication today of a Prospectus for the issue of new
ordinary shares of £0.01 each in the capital of the Company ("Shares"). The
Shares include those to be issued in connection with the placing announced in
December 2025 (the "Placing") and the conversion to equity of certain existing
convertible loan notes ("CLNs").

The Company has requested the restoration of its listing on the Official List
and trading on The Main Market of the London Stock Exchange, which has been
suspended since August 2024.  This is expected to take place later today, 24
March 2026.

The publication of the Prospectus and the restoration of the listing satisfy
the remaining conditions for completion of the Placing and for the Company to
exercise conversion notices in respect of the applicable CLNs. The Company
therefore confirms the issue of conversion notices for the existing 2019 CLN,
2025 Series 1 CLN, 2025 Series 2 CLN and the December 2025 Bridge CLN, in
aggregate converting £6.4 million of liabilities, plus accrued interest, to
equity. The effective conversion date of the CLNs will be 26 March 2026.

Application will be made for the 623,886,511 new Shares arising from the
Placing and the conversion of the CLNs to be admitted trading on the London
Stock Exchange's Main Market for listed securities ("Admission"). Admission is
expected to occur at 8.00 a.m. on 27 March 2026.

A copy of the Prospectus has been submitted to the National Storage Mechanism
and will shortly be available for inspection at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism. A copy will also be
made available at
https://tirupatigraphite.co.uk/investor-centre/presentations-and-documents/

Total Voting Rights

The Company hereby notifies the market, in accordance with the FCA's
Disclosure Guidance and Transparency Rule, that on Admission, the Company's
issued share capital will consist of 762,447,931 ordinary shares, each with
one vote. The Company does not hold any ordinary shares in Treasury. On
Admission, the total number of voting rights in the Company will be
762,447,931 and this figure may be used by shareholders as the denominator for
the calculations by which they will determine if they are required to notify
their interest in, or a change to their interest in, the Company under the
FCA's Disclosure Guidance and Transparency Rules.

Competent Persons Report

The Prospectus includes a Competent Persons Report ("CPR") prepared by SRK
Mining Services (India) Private Limited  including updated mineral resource
estimates for the Company's portfolio of assets in Madagascar and Mozambique
as at 30 September 2025. This is the first full update of the mineral
resources including the licences in Mozambique since the latter were acquired.
A summary of the Mineral Resource Statement  is presented below:

Mineral Resources Statement for Tirupati Mineral Assets, 30 September 2025

 Deposit         Resource Classification  Tonnes  Grade   Contained Graphite (kt)
                 (Mt)                             (%TGC)
 Vatomina        Measured                 -       -       -
                 Indicated                1.6     3.8     60
                 Measured and Indicated   1.6     3.8     60
                 Inferred                 4.4     3.8     170
                 Total Resource           6       3.8     230
 Sahamamy        Measured                 -       -       -
                 Indicated                1.2     4.0     50
                 Measured and Indicated   1.2     4.0     50
                 Inferred                 5.2     4.3     220
                 Total Resource           6.4     4.2     270
 Elephant        Measured                 5.3     8.3     440
 (Montepuez)     Indicated                29.6    8.1     2,400
                 Measured and Indicated   34.9    8.1     2,840
                 Inferred                 33.9    6.8     2,310
                 Total                    68.8    7.5     5,150
 Buffalo         Measured                 5.5     9.0     500
 (Montepuez)     Indicated                16.5    10.3    1,700
                 Measured and Indicated   22.0    10.0    2,200
                 Inferred                 19.7    8.9     1,750
                 Total                    41.7    9.5     3,950
 Balama Central  Measured                 -       -       -
                 Indicated                50.1    7.7     3,860
                 Measured and Indicated   50.1    7.7     3,860
                 Inferred                 7.8     9.0     700
                 Total                    57.9    7.9     4,560
 Total           Measured                 11.0    8.7     940
                 Indicated                99.0    8.2     8,070
                 Measured and Indicated   109.8   8.2     9,010
                 Inferred                 71.0    7.3     5,150
                 Total                    180.8   7.8     14,160

 

Mark Rollins, Chairman of Tirupati, commented:

"The restoration of trading in the Company's shares and the satisfaction of
the remaining conditions to complete the financial re-structuring and
Placing are a major milestone. This has required considerable patience and
support from investors and other stakeholders, and huge efforts from our
team, for all of which the Board is very grateful. We can now look forward
to fully implementing the improvement plan and developing
the Group's substantial resource base, which is confirmed in the updated
CPR, to create value for our shareholders who have long
recognised the strong position which our graphite assets can
represent in the critical mineral sector."

 

ENDS

 

Enquiries:

 

 Tirupati Graphite Plc                       info@tirupati.co.uk (mailto:info@tirupati.co.uk)

 Mark Rollins - Executive Chairman           IR@tirupati.co.uk (mailto:IR@tirupati.co.uk)

 Alastair Bath - Investor Relations          +44 7356 057 265
 AlbR Capital Limited -  Financial Adviser   +44 20 7469 0930

 David Coffman / Dan Harris

 

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