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22 Dec 2020 13:46
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.
22 December 2020
Tirupati Graphite plc ('Tirupati' or the 'Company')
Extension of Warrants
Tirupati Graphite plc, the fully integrated, revenue generative, specialist graphite and graphene producer with operations in Madagascar and India, 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') has been extended from 31 December 2020 to 30 June 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 | 30/6/21 |
Hemant Podder | 200,000 | £0.30 | 31/12/17 | 30/6/21 |
Christian Dennis | 200,000 | £0.30 | 31/12/17 | 30/6/21 |
** ENDS **
For further information, please visit https://www.tirupatigraphite.co.uk/ or contact:
Tirupati Graphite Plc Puruvi Poddar | +44 (0) 20 3984 9894 |
Optiva Securities Limited (Broker) Daniel Ingram | +44 (0) 20 3137 1902 |
St Brides Partners Ltd (Financial PR) Isabel de Salis / Catherine Leftley / Cosima Akerman | +44 (0) 20 236 1177 |
Notes
Tirupati Graphite Plc is a revenue-generative, multi-asset, multi-jurisdictional, fully integrated producer and developer of high-grade natural flake graphite, speciality graphite and graphene, which captures the entire value chain. With a unique set of properties, graphite has diverse applications with multiple growth streams and graphene forms the new generation of 2D materials. In support of this, the Company places a special emphasis on "green" applications, including renewable energy generation, energy storage and composites, 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 tonnes p/a of high-quality flake graphite concentrate with up to 96% purity is currently being produced and sold to customers globally, and this is planned to increase to 81,000 tonnes p/a by 2024 as per the Company's modular medium-term development plan.
In India, the Company processes and produces speciality graphite for use in hi-tech applications like lithium-ion batteries, fire retardants and composites. Its specialty graphite processing operations include the 1,200 tonnes p/a Patalganga Project, which was successfully commissioned in July 2019 to manufacture and sell CARBOFLAMEX®, a trademarked fire-retardant expandable graphite product. At the next stage of development, Patalganga shall further be expanded to 4,800 tonnes p/a capacity with capabilities to also produce high purity and micronised graphite, so increasing market and product reach by 2021. The Company has developed unique green processing technologies for manufacturing these advanced materials.
After establishing itself in the specialty graphite markets through the Patalganga Project, an additional 24,000 tonnes p/a specialty graphite processing facility is to be established in two 12,000 tonnes p/a phases. The plant will produce expandable, high purity, micronised and spherical graphite. The west coast of India has been chosen as the location and a detailed feasibility study has been completed. Tirupati is also in the process of establishing the Tirupati Graphene and Mintech Research Centre, a state-of-the-art R&D centre focussed on producing graphene, developing its applications, and further providing environmentally friendly technologies consultancy for mineral processing. Land acquisition is in progress in Bhubaneswar, India, and a detailed feasibility study completed.
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
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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
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b) | Nature of the transaction: | Extension of Warrants | |||||||||||||
c) | Price(s) and volume(s): |
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d) | Aggregated information: Aggregated volume: Price: |
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e) | Date of the transaction: | 20 December 2020 | |||||||||||||
f) | Place of the transaction: | Outside a trading venue | |||||||||||||
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