Transaction Update - Variation of Long Stop Date

RNS Number : 5523X

Tirupati Graphite PLC

30 August 2022

 

30 August 2022

Tirupati Graphite plc

('Tirupati', 'TG' or the 'Company')

Transaction Update - Variation of Long Stop Date

Tirupati Graphite plc

('Tirupati', 'TG' or the 'Company')

Transaction Update - Variation of Long Stop Date

Tirupati Graphite plc (TGR.L, TGRHF.OTCQX) advises that to facilitate the receipt of all necessary Mozambique government approvals in respect of its agreement to acquire the entire issued share capital of Suni Resources SA from Battery Minerals Limited, as announced on 17 August 2021, the parties have agreed for the Long Stop Date to be extended to Wednesday 30 September 2022. The completion of the acquisition is pending approval as per statute from the Government of Mozambique.

ENDS

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

Tirupati Graphite Plc Puruvi Poddar - Chief of Corporate & Business Development	[e-mail] [phone]
Optiva Securities Limited (Broker) Ben Maitland - Corporate Finance Robert Emmet - Corporate Broking	[phone] [phone]
FTI Consulting (Financial PR) Ben Brewerton / Nick Hennis / Kelly Smith	[phone] [e-mail]

About Tirupati Graphite

Tirupati Graphite Plc is a specialist graphite and graphene company.  The Company places a special emphasis on "green" applications, including renewable energy and energy efficiency, energy storage and thermal management 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; 12,000 tpa installed capacity of high-quality flake graphite concentrate with up to 96% purity is currently being produced and sold to customers globally, planned to increase to 84,000 tpa by end 2024 as per the Company's modular medium-term development plan. 

The Company has an acquisition agreement, subject to regulatory approvals, with Tirupati Speciality Graphite Private Limited ('TSG'). TSG operates and is developing a suite of speciality graphite for use in hi-tech applications like lithium-ion batteries, fire retardants, thermal management, and composites. It also operates a technology centre developing advanced materials including graphene and its applications, and mineral processing technology on commercial basis. The Company is working on various possibilities in this respect as announced by RNS on 11 July 2022.

 

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