# Tirupati Graphite Issue Consideration Shares to Battery Minerals Limited

- Link: https://www.directorstalkinterviews.com/tirupati-graphite-issue-consideration-shares-to-battery-minerals-limited/4121136338
- Published: 2023-12-18T07:23:03+00:00
- Author: Emily Johnson

**[Tirupati Graphite plc](https://www.directorstalkinterviews.com/company/tirupati-graphite-plc/tgr.l)**(
[LON:TGR](https://www.directorstalkinterviews.com/company/tirupati-graphite-plc/tgr.l),
TGRHF.OTCQX), the specialist Flake Graphite company and supplier of the critical
mineral for the global energy transition, has announced the issue of 6,556,554 consideration
shares to **Battery Minerals Limited** (ASX:BAT) as part of tranche 2 of the acquisition
agreement of Suni Resources SA (See RNS 19th April 2023).

Admission of the Consideration Shares to the Standard Segment of the Official List
of the Financial Conduct Authority (“FCA”) and to trading on the Main Market of 
the London Stock Exchange, is expected to become effective on or around 8.00 a.m.
on Wednesday 20 December 2023.

Following the issue of Consideration Shares the Company’s issued share capital will
comprise 114,799,220 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.

**Shishir Poddar Tirupati Graphite** **Executive Chairman said:**

_“Concluding the acquisition of Suni Resources is a significant milestone for the
Company as it has acquired two advanced stage, world-class and construction ready
natural Graphite projects in the world’s largest Graphite producing region outside
of China, in northern Mozambique. This comes at a time of major tailwinds for companies
outside of China able to offer current and near-term supply from quality projects,
and we look forward to updating the market further in due course.”_

Tirupati Graphite Plc is a specialist Graphite producer and a supplier of critical
minerals 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 has also acquired 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 previous operator.

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