Client NewsTirupati Graphite plc: Conversion of Loan Notes & Total Voting Rights
Tirupati Graphite plc, the fully integrated, revenue generating, specialist graphite producer and graphene and advanced materials developer, announces that a number of holders (“Noteholders”) of the convertible loan notes of par value £1.00 each issued by Tirupati on 17 May 2019 (“CLN’s), have elected to convert 114,000 CLN’s into 253,333 ordinary shares of 2.5 pence each (“Ordinary Shares”), at the Company’s IPO price in accordance with the instrument, being a price of 45 pence each in the share capital of Tirupati.
Accordingly, 253,333 new Ordinary Shares (the “Conversion Shares”) will be issued to the Noteholders. Application has been made for the admission of the Conversion Shares to trading on the Main Market of the London Stock Exchange, with such admission expected to become effective at 8.00 a.m. on 6th August 2021 (“Admission”).
Following Admission, the total issued share capital of the Company will consist of 86,207,767 ordinary shares of 2.5 pence each. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.
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