Commencement of trading on the OTCQX Best Market

RNS Number : 2580R

Tirupati Graphite PLC

04 November 2021

 

4 November 2021

Tirupati Graphite plc

Commencement of trading on the OTCQX Best Market in the United States

Tirupati Graphite plc ("Tirupati' or the 'Company") (LSE: TGR; OTCQX: TGRHF), the fully integrated, revenue generating, specialist graphite producer and graphene and advanced materials developer, is pleased to announce that trading in its ordinary shares of nominal value of £0.025 each ("Ordinary Shares") will begin today on the OTCQX® Best Market ("OTCQX) in the United States ("U.S."), under the ticker symbol "TGRHF".

The Company believes that having its Ordinary Shares traded on the OTCQX Market will provide enhanced investor benefits, including greater market visibility, easier trading access for investors located in the U.S., and increased liquidity due to a broader geographic pool of potential investors.

By trading on the premium OTCQX Market, Tirupati's shares will be available to U.S. investors during U.S. working hours and priced in U.S. dollars.  Trading on the OTCQX will have no direct impact on the trading of Tirupati's existing Ordinary Shares on the London Stock Exchange and no new Ordinary Shares will be issued as part of the cross-trade.

The OTCQX® Best Market is OTC Markets Group's premier market for established, investor-focused U.S. and international companies on which 11,000 U.S. and global securities trade.  To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.

Shishir Poddar, Chairman & CEO of Tirupati Graphite said, "We are thrilled to begin trading on the OTCQX® Best Market. This cross-trading facility provides a fantastic opportunity to introduce an investment in Tirupati to the North American investor community. As a fast growing, innovative and disruptive company focused on flake graphite, graphene, and new age materials, which are critical to fuel the global energy transition, Tirupati is attracting the attention of investors and corporates in the region.

"We are already receiving enquiries and seeing a lot of interest for our graphite and graphene products from high profile North American customers. The OTCQX® Best Market's cross-trading facility makes it easier for U.S. investors to trade in our Ordinary Shares and enables the Company to make information available on our developments and provide greater visibility of our endeavours to U.S. investors and corporates, which opens the possibilities of increasing cooperation's and sales channels into the strategically important North American region."

Jonathan Dickson, Vice President of International Corporate Services, OTC, said, "We are delighted to welcome Tirupati Graphite plc to the OTCQX® Best Market. With its primary listing remaining on the LSE, the OTCQX Market's cross-trading facility will allow Tirupati to broaden its horizons and provide investors in the United States with the ability to access the Company's Ordinary Shares in U.S. dollars and during U.S. market hours."

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

Tirupati Graphite Plc Puruvi Poddar	[phone] [e-mail]
Optiva Securities Limited (Broker) Daniel Ingram	[phone]
St Brides Partners Ltd (Financial PR) Isabel de Salis / Oonagh Reidy	[e-mail]

Notes

Tirupati Graphite Plc is a revenue-generating, multi-asset, multi-jurisdictional, fully integrated producer and developer of high-grade natural flake graphite, speciality graphite and graphene and graphene enhanced advanced materials.  With a unique set of properties, graphite has diverse applications with multiple growth streams and graphene forms the new generation of 2D and advanced materials. The Company places a special emphasis on "green" applications, including renewable energy and energy efficiency, energy storage, thermal management, and advanced materials development, 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 of high-quality flake graphite concentrate with up to 96% purity is the current capacity of these projects and flake graphite being produced is sold to customers globally. The projects are under staged development and total capacity is planned to increase to 84,000 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 is developing a suite of speciality graphite for use in hi-tech applications like lithium-ion batteries, fire retardants, thermal management, and composites. Its current operations include the 1,200 tpa Patalganga Project, focused on manufacturing the Company's trademarked expandable graphite products CARBOFLAMEX® and GrafEN 45545™. TSG is further developing 30,000 tpa specialty graphite project in two equal size modules and has developed unique green processing technologies for manufacturing these advanced materials.

TSG is also developing the Tirupati Graphene and Mintech Research Centre ("TGMRC"), a state-of-the-art R&D centre focussed on manufacturing graphene, developing its applications and advanced materials using graphene, and further providing environmentally friendly technologies consultancy for mineral processing.  Commercial operations commenced in July 2021 having completed Stage 1 of the centre's development plan.

 

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