REG - Tirupati Graphite - Conversion of Convertible Loan Notes

Tirupati GraphiteAnnouncement

01/12/2021 14:30

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RNS Number : 2566U  Tirupati Graphite PLC  01 December 2021

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considered to be in the public domain.

 

 

1 December 2021

Tirupati Graphite plc

('Tirupati' or the 'Company')

Conversion of Convertible Loan Notes

& Total Voting Rights

 

Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist graphite and
graphene company developing sustainable new age materials, announces that a
holder ("Noteholder") of Convertible Loan Notes of par value £1.00 each
issued by Tirupati on 17 May 2019 ("CLN's"), have elected to convert 160,000
CLN's into 355,556 ordinary shares of 2.5 pence each ("Ordinary Shares"), at
the Company's IPO price in accordance with the instrument, being a price of 45
pence per Ordinary Share.

 

Accordingly, 355,556 new Ordinary Shares (the "Conversion Shares") will be
issued to the Noteholder. Application has been made for the admission of the
Conversion Shares to trading on the Main Market of the London Stock Exchange,
with such admission expected to become effective at 8.00 a.m. on 3 December
2021 ("Admission").

 

Following Admission, the total issued share capital of the Company will
consist of 86,563,323 Ordinary Shares of 2.5 pence each. This number 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.

 

** ENDS **

 

 

Enquiries:

 

 Tirupati Graphite Plc                                            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 / Ojasvi Goel / Alessandro Rubin / Kelly Smith     tirupati@fticonsulting.com

 

 

 

Notes

Tirupati Graphite Plc is the specialist graphite and graphene company
developing sustainable new age materials.  With a unique set of properties,
graphite has diverse applications with multiple growth streams and graphene
forms the new generation of 2D and advanced materials. The Company places a
special emphasis on "green" applications, including renewable energy and
energy efficiency, energy storage, thermal management, and advanced materials
development, and is committed to ensuring its operations are sustainable as
well.

 

The Company's operations include primary mining and processing in Madagascar,
where the Company operates two key projects, Sahamamy and Vatomina; 3,000 tpa
of high-quality flake graphite concentrate with up to 96% purity is currently
being produced and sold to customers globally, with an additional 9,000 tpa
capacity expected to be commissioned soon, planned to increase to 84,000 tpa
by 2024 as per the Company's modular medium-term development plan.

 

In India, through Tirupati Speciality Graphite Private Limited ('TSG'), with
whom the Company has a binding acquisition agreement subject to regulatory
approvals, Tirupati is developing a suite of speciality graphite for use in
hi-tech applications like lithium-ion batteries, fire retardants, thermal
management, and composites. Its current operations include the 1,200 tpa
Patalganga Project, focused on manufacturing the Company's trademarked
expandable graphite products CARBOFLAMEX® and GrafEN 45545™. TSG is further
expanding the Patalganga Project to 4,800 tpa and developing the 30,000 tpa
specialty graphite project in two 15,000 tpa modules which will include
capabilities to manufacture high-purity, expandable, micronized and spherical
graphite and using its unique green processing technologies for the
manufacturing of these advanced materials.

 

TSG has also established and continues to develop the Tirupati Graphene and
Mintech Research Centre, a state-of-the-art R&D centre focussed on
manufacturing graphene, developing its applications and advanced materials
using graphene, and further providing environmentally friendly technologies
consultancy for mineral processing.

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