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On 13 May 2024, Tirupati Graphite plc issued 2,727,273 ordinary shares of £0.025 each to Mr. Shishir Poddar, Executive Chairman & Managing Director, at a price of £0.11 per share, as part of a Subscription. Following this allotment against remuneration, Mr. Poddar now holds 3,886,523 ordinary shares, which represents 3% of the Company's capital.
| Date | 14 May 2024 |
| Time | 16:13:00 |
| Category | Director/PDMR dealings |
| ID | 4195O |
14 May 2024
Tirupati Graphite plc
('Tirupati', 'TG' or the 'Company')
PDMR/Director Dealing
Mr. Shishir Poddar (Executive Chairman & Managing Director), a person discharging management responsibility, has been issued a total of 2,727,273 ordinary shares of £0.025 each, as part of the Subscription (see 17 January 2024 RNS), in the capital of the Company, on 13 May 2024 as set out in the below notification table.
Mr Poddar now holds 3,886,523 of ordinary shares of £0.025 each in the capital of the Company. A TR-1 (Holdings in Company) RNS has been published separately to this announcement to show that this takes his holding in the Company to 3%.
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1 |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name |
Shishir Poddar |
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2 |
Reason for the notification |
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a) |
Position/status |
Executive Chairman & Managing Director |
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b) |
Initial notification/Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Tirupati Graphite plc |
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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 |
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a) |
Description of the financial instrument, type of instrument
Identification Code |
Ordinary shares of £0.025
ISIN: GB00BFYMWJ95. |
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b) |
Nature of the transaction |
Allotment of equity shares against remuneration |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information |
As above |
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e) |
Date of transaction |
13 May 2024 |
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f) |
Place of transaction |
London Stock Exchange |
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ENDS
For further information, please visit https://www.tirupatigraphite.co.uk/ or contact:
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Tirupati Graphite Plc Puruvi Poddar - Joint Managing Director
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admin@tirupatigraphite.co.uk +44 (0) 20 39849894 |
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Optiva Securities Limited (Broker) Ben Maitland - Corporate Finance
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+44 (0) 20 3034 2707
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FTI Consulting (Financial PR) Ben Brewerton / Nick Hennis / Lucy Wigney
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+44 (0) 20 3727 1000 tirupati@fticonsulting.com
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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. 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 30,000 tpa of currently installed capacity, producing 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:
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Country |
Project |
Stage |
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Madagascar |
Sahamamy |
In production: 18,000tpa capacity |
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Madagascar |
Vatomina |
In production: 12,000tpa capacity |
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Mozambique |
Montepuez |
100,000tpa permitted, development-initiated |
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Mozambique |
Balama Central |
58,000tpa permitted, development-ready |