Source - LSE Regulatory
RNS Number : 6623M
Tirupati Graphite PLC
25 January 2021
 

 

25th January 2021

Tirupati Graphite plc ('Tirupati' or the 'Company')

Conversion of Loan Notes &

Total Voting Rights

 

Tirupati Graphite plc, the fully integrated, revenue generative, specialist graphite producer and graphene developer with operations in Madagascar and India, announces that a holder ("Noteholder") of the convertible loan notes of par value £1.00 each issued by Tirupati on 17 May 2019 ("CLN's), has elected to convert 40,000 CLN's into 88,889 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 each in the share capital of Tirupati.

 

Accordingly, 88,889 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 28th January 2021 ("Admission").

 

Following Admission, the total issued share capital of the Company will consist of 74,843,323 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.

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

** ENDS **

 

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

 

Tirupati Graphite Plc

Puruvi Poddar

+44 (0) 20 3984 9894

Optiva Securities Limited (Broker)

Daniel Ingram

+44 (0) 20 3137 1902

St Brides Partners Ltd (Financial PR)

Isabel de Salis / Cosima Akerman

+44 (0) 20 236 1177

 

Notes

Tirupati Graphite Plc is a revenue-generative, multi-asset, multi-jurisdictional, fully integrated producer and developer of high-grade natural flake graphite, speciality graphite and graphene, which captures the entire value chain.  With a unique set of properties, graphite has diverse applications with multiple growth streams and graphene forms the new generation of 2D materials. In support of this, the Company places a special emphasis on "green" applications, including renewable energy generation, energy storage and composites, 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, and this is planned to increase to 81,000 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 processes and produces speciality graphite for use in hi-tech applications like lithium-ion batteries, fire retardants and composites. Its specialty graphite processing operations include the 1,200 tpa Patalganga Project, which was commissioned in July 2019 to manufacture and sell CARBOFLAMEX®, a trademarked fire-retardant expandable graphite product.  At the next stage of development, Patalganga shall further be expanded to 4,800 tpa capacity with capabilities to also produce high purity and micronised graphite, so increasing market and product reach by 2021. TSG has developed unique green processing technologies for manufacturing these advanced materials.

 

After establishing itself in the specialty graphite markets through the Patalganga Project, an additional 24,000 tpa specialty graphite processing facility is to be established in two 12,000 tpa phases.  The plant will produce expandable, high purity, micronised and spherical graphite.  The west coast of India has been chosen as the location and a detailed feasibility study has been completed.  Tirupati is also in the process of establishing the Tirupati Graphene and Mintech Research Centre, a state-of-the-art R&D centre focussed on manufacturing graphene, developing its applications, and further providing environmentally friendly technologies consultancy for mineral processing. 

 

 

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