The information communicated within this
announcement is deemed to constitute inside information as
stipulated under the Market Abuse Regulations (EU) No. 596/2014
which is part of UK law by virtue of the European Union
(Withdrawal) Act 2018. Upon the publication of this announcement,
this information is considered to be in the public
domain.
6 January 2025
Tirupati Graphite
plc
('Tirupati', 'TG', the 'Group' or the 'Company')
Issue of
Shares, PDMR, and Total Voting Rights
Tirupati Graphite (TGR.L), the
specialist flake graphite company and supplier of the critical
mineral for the global energy transition, announces that at a Board
Meeting held on 9 December 2024, the sitting Board directors as at
that date approved the issue of ordinary
shares in lieu of remuneration.
The following allotment and issue of
ordinary shares of £0.025p has
been made by the sitting directors as at 9 December
2024:
·
1,466,660 ordinary shares of £0.025 each in the
capital of the Company issued to Michael Lynch-Bell at an issue
price of £0.05 per ordinary share in certificated form duly marked
"pending admission to trading"; and
·
7,586,450 ordinary shares of £0.025 each in the
capital of the Company issued to Shishir Poddar at an issue price
of £0.05 per ordinary share in certificated form duly marked
"pending admission to trading",
(together the "Subscription
Shares").
Admission and Total Voting Rights
The admission of the new ordinary
shares will be applied upon resumption of trading of the Company's
shares on the London Stock Exchange.
The Subscription Shares will rank
pari passu with the existing ordinary shares of £0.025 each of the
Company ('Ordinary Shares') and the admission of the new ordinary
shares will be applied upon resumption of trading of the Company's
shares on the London Stock Exchange ('Admission').
Following the issue of Subscription
Shares the Company's issued share capital will comprise 138,661,420
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.
|
1.
|
|
Details of
PDMR
|
|
a.
|
Name
|
Shishir Poddar
|
|
|
|
|
|
b.
|
Position/status
|
Director
|
|
|
|
|
|
c.
|
Initial notification/ amendment
|
Initial Notification
|
|
2.
|
|
Details of the
transaction(s): section to be repeated for (a) each type of
instrument; (b) each type of transaction; (c) each date; and (d)
each place where transactions have been conducted
|
|
a.
|
Description of the financial instrument
|
Equity Shares
|
|
b.
|
Nature of the transaction
|
Subscription in lieu of salary
|
|
|
|
|
|
|
|
|
|
c.
|
Price(s)
and volume(s)
|
Price(s)
|
Volume(s)
|
|
0.05p
|
7,586,450
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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d.
|
Aggregated information
Aggregated volume Price
|
N/A
|
|
e.
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Date of the transaction
|
31 December 2024
|
|
f.
|
Place of the transaction
|
Outside a
trading venue
|
|
1.
|
|
Details of
PDMR
|
|
a.
|
Name
|
Michael Lynch-Bell
|
|
|
|
|
|
b.
|
Position/status
|
Director
|
|
|
|
|
|
c.
|
Initial notification/ amendment
|
Initial Notification
|
|
2.
|
|
Details of the
transaction(s): section to be repeated for (a) each type of
instrument; (b) each type of transaction; (c) each date; and (d)
each place where transactions have been conducted
|
|
a.
|
Description of the financial instrument
|
Equity Shares
|
|
b.
|
Nature of the transaction
|
Subscription in lieu of salary
|
|
|
|
|
|
|
|
|
|
c.
|
Price(s)
and volume(s)
|
Price(s)
|
Volume(s)
|
|
0.05p
|
1,466,660
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
d.
|
Aggregated information
Aggregated volume Price
|
N/A
|
|
e.
|
Date of the transaction
|
31 December 2024
|
|
f.
|
Place of the transaction
|
Outside a
trading venue
|
ENDS
For further information, please
visit https://www.tirupatigraphite.co.uk/ or
contact:
|
Tirupati Graphite Plc
Mark Rollins - Executive
Chairman
Alastair Bath - Investor
Relations
|
tirupatigraphitelondon@gmail.com
+44 7356 057 265
|
|
CMC
Markets UK Plc (Broker)
Douglas Crippen
|
+44 (0)20 3003 8632
|
|
Musst / ViTa-Connect (Financial Adviser)
Tabrez Khan
|
tabrez@vita-connect.co
+44 746 903 3573 / +971 50871
7864
|
|
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, with leading low
development capital and operating costs. 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
installed final production nameplate capacity of 30,000tpa, subject
to minor capex additions. The Madagascar operations produce
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
|
Production paused: 18,000tpa
nameplate capacity
|
|
Madagascar
|
Vatomina
|
In Production: 12,000tpa nameplate
capacity
|
|
Mozambique
|
Montepuez
|
100,000tpa permitted,
construction-initiated
|
|
Mozambique
|
Balama Central
|
58,000tpa permitted,
development-ready
|
