[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/ 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)
Ben Brewerton / Nick Hennis / Lucy
Wigney
|
+44 (0) 20 3727 1000
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
|