Extension of Warrants

RNS Number : 9508B

Tirupati Graphite PLC

15 June 2021

 

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain.

15 June 2021

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

Extension of Warrants

Tirupati Graphite plc, the fully integrated, revenue generating, specialist graphite producer and graphene and advanced materials developer, today announces that it has extended the expiry date on certain warrants issued to a number of Directors by an additional six months.

The expiry date on a total of 1,000,000 warrants issued on 31 December 2017 and exercisable at £0.30 per warrant (the 'Warrants'), which were extended previously to 30 June 2021 (see RNS 22 December 2020), has now been extended to 31 December 2021. All other terms remain the same.

Accordingly, the revised terms of the Warrants granted to certain Directors are as follows:

Director	No. of Warrants	Exercise Price	Issue Date	New Expiry Date
Shishir Poddar	600,000	£0.30	31/12/17	31/12/21
Hemant Podder	200,000	£0.30	31/12/17	31/12/21
Christian Dennis	200,000	£0.30	31/12/17	31/12/21

** ENDS **

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

Tirupati Graphite Plc Puruvi Poddar	[phone]
Optiva Securities Limited (Broker) Daniel Ingram	[phone]
St Brides Partners Ltd (Financial PR) Isabel de Salis / Cosima Akerman	[phone]

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; 3,000 tpa of high-quality flake graphite concentrate with up to 96% purity is currently being produced and sold to customers globally, additional 9,000 tpa capacity expected to be commissioned in Q2 2021, and this 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, which was commissioned in July 2019 to manufacture and sell CARBOFLAMEX®, a trademarked fire-retardant expandable graphite product. 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 has also established and continues to develop the Tirupati Graphene and Mintech Research Centre, 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. 

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	1.  Shisir Poddar 2.  Henant Poddar 3.  Christian Dennis
2.	Reason for the notification
a)	Position/status:	1.  Executive Chairman 4.  Non-Executive Director 5.  Non-Executive Director
b)	Initial notification/Amendment:	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Tirupati Graphite Plc
b)	LEI:	2138006PQV9F72H17783
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument:  Identification code:		Ordinary shares of £0.025 each   GB00BFYMWJ95
b)	Nature of the transaction:		Extension of Warrants
c)	Price(s) and volume(s):		Price Volume 1. £0.30 600,000 2. £0.30 200,000 3. £0.30 200,000
d)	Aggregated information:  Aggregated volume:  Price:		Price Volume 1. £0.30 600,000 2. £0.30 200,000 3. £0.30 200,000
e)	Date of the transaction:		7 June 2021
f)	Place of the transaction:		Outside a trading venue

 

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