Business
Prospectus, Restoration of Trading, CLN Conversion
Tirupati Graphite plc has published a Prospectus for new ordinary shares, facilitating the restoration of its listing on the London Stock Exchange's Main Market, expected on March 24, 2026. This move allows for the conversion of £6.4 million in convertible loan notes to equity, with admission of 623,886,511 new shares anticipated on March 27, 2026, bringing the total issued share capital to 762,447,931 ordinary shares. The Prospectus includes an updated Competent Persons Report detailing significant mineral resource estimates for its Madagascar and Mozambique assets, with total resources of 180.8 million tonnes at a 7.8% total graphite content. Disclaimer*
About this update from Total Graphite Plc
[{"type":"text","content":"\n\n24 March 2026\nTirupati Graphite plc\n('Tirupati' or the 'Company')\nPublication of Prospectus, Restoration of Trading & Conversion Notice\nTirupati Graphite plc (TGR.L), the specialist flake graphite company and supplier of the critical mineral for the global energy transition, is pleased to announce the publication today of a Prospectus for the issue of new ordinary shares of £0.01 each in the capital of the Company (\"Shares\"). The Shares include those to be issued in connection with the placing announced in December 2025 (the \"Placing\") and the conversion to equity of certain existing convertible loan notes (\"CLNs\").\nThe Company has requested the restoration of its listing on the Official List and trading on The Main Market of the London Stock Exchange, which has been suspended since August 2024. This is expected to take place later today, 24 March 2026. \nThe publication of the Prospectus and the restoration of the listing satisfy the remaining conditions for completion of the Placing and for the Company to exercise conversion notices in respect of the applicable CLNs. The Company therefore confirms the issue of conversion notices for the existing 2019 CLN, 2025 Series 1 CLN, 2025 Series 2 CLN and the December 2025 Bridge CLN, in aggregate converting £6.4 million of liabilities, plus accrued interest, to equity. The effective conversion date of the CLNs will be 26 March 2026.\nApplication will be made for the 623,886,511 new Shares arising from the Placing and the conversion of the CLNs to be admitted trading on the London Stock Exchange's Main Market for listed securities (\"Admission\"). Admission is expected to occur at 8.00 a.m. on 27 March 2026.\nA copy of the Prospectus has been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism. A copy will also be made available at https://tirupatigraphite.co.uk/investor-centre/presentations-and-documents/\nTotal Voting Rights\nThe Company hereby notifies the market, in accordance with the FCA's Disclosure Guidance and Transparency Rule, that on Admission, the Company's issued share capital will consist of 762,447,931 ordinary shares, each with one vote. The Company does not hold any ordinary shares in Treasury. On Admission, the total number of voting righ...