Issue of Subscription Shares &Total Voting Rights

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/ 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 

 

 

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