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.

 ENDS

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

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: