Last checked at 12 Apr 2022 10:00
12 April 2022
Corporate Update
PDMR / PCA Dealings
Atlantic Lithium Limited (AIM: ALL, OTC: ALLIF, "Atlantic Lithium" or the "Company"), the African focused lithium exploration and development company has been notified that Melisa Kolff Van Oosterwijk, ("Ms Kolff") the spouse of Lennard Kolff Van Oosterwijk, Interim CEO of the Company, has sold 600,000 ordinary shares of no par value each in the Company ("Ordinary Shares") on 8 April 2022 at a price of 57.0 pence per share for personal financial reasons.
Mr Kolff remains committed to the continuing growth and success of the Company. Following the sale, Mr Kolff maintains the following interests in the Company all of which are held in the name of Ms Kolff:
Ordinary Shares
An interest in 1,007,344 ordinary shares representing 0.18% of the issued share capital of the Company.
Unlisted Options
An interest in a total of 15,500,000 unlisted options in the Company:
Ø 3,500,000 unlisted options exercisable at 12p each through to 24 June 2022;
Ø 3,000,000 unlisted options exercisable at 30p each through to 18 August 2023;
Ø 4,000,000 unlisted options exercisable at 40p each through to 18 August 2023; and
Ø 5,000,000 unlisted options exercisable at 50p each through to 18 August 2023.
Unlisted Performance Rights
An interest in a total of 4,050,000 unlisted performance rights in the Company:
Ø 225,000 unlisted performance rights exercisable at 30p expiring on 18 August 2023;
Ø 225,000 unlisted performance rights exercisable at 35p expiring on 18 August 2023;
Ø 225,000 unlisted performance rights exercisable at 40p expiring on 18 August 2023;
Ø 225,000 unlisted performance rights exercisable at 45p expiring on 18 August 2023;
Ø 225,000 unlisted performance rights exercisable at 50p expiring on 18 August 2023;
Ø 225,000 unlisted performance rights exercisable at 55p expiring on 18 August 2023;
Ø 225,000 unlisted performance rights exercisable at 60p expiring on 18 August 2023;
Ø 225,000 unlisted performance rights exercisable at 65p expiring on 18 August 2023;
Ø 500,000 unlisted performance rights exercisable at 70p expiring on 18 August 2023;
Ø 750,000 unlisted performance rights exercisable at 75p expiring on 18 August 2023; and
Ø 1,000,000 unlisted performance rights exercisable at £1.00 expiring on 18 August 2023.
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||||||
a) | Name: | Melisa Kolff Van Oosterwijk | ||||||||
2. | Reason for the notification | |||||||||
a) | Position/status: | PCA of Lennard Alexander Kolff Van Oosterwijk - Interim CEO / Director | ||||||||
b) | Initial notification/Amendment: | Initial notification | ||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
a) | Name: | Atlantic Lithium Limited | ||||||||
b) | LEI: | 213800H1JY3J7BB6BN06 | ||||||||
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 | |||||||||
a) | Description of the financial instrument, type of instrument: Identification code: | Ordinary Shares of no par value
AU0000XINEX3 | ||||||||
b) | Nature of the transaction: | Sale of Ordinary Shares | ||||||||
c) | Price(s) and volume(s): | Sale
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d) | Aggregated information: Aggregated volume: Price: | Single transaction as in 4 c) above
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e) | Date of the transaction: | 08 April 2022 | ||||||||
f) | Place of the transaction: | On Market | ||||||||
For any further information, please contact:
Atlantic Lithium Limited Neil Herbert (Chairperson) Amanda Harsas (Finance Director and Company Secretary) www.atlanticlithium.com.au atlantic@yellowjerseypr.com | Tel: +61 2 8072 0640 | ||
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SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat | Tel: +44 (0)20 3470 0470 | ||
Canaccord Genuity Limited Joint Company Broker Raj Khatri James Asensio Harry Rees |
Tel: +44 (0) 20 7523 4500
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Liberum Capital Limited Joint Company Broker Scott Mathieson Edward Thomas Kane Collings |
Tel: +44 (0) 20 3100 2000
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SI Capital Limited Joint Company Broker Nick Emerson Jon Levinson |
Tel: +44 (0) 1483 413 500 Tel: +44 (0) 207 871 4038 | ||
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Yellow Jersey PR Limited Henry Wilkinson Dominic Barretto James Lingfield
| Tel: +44 (0)20 3004 9512 |
Notes to Editors:
About Atlantic Lithium
www.atlanticlithium.com.au
Atlantic Lithium (formerly "IronRidge Resources") is an AIM-listed lithium company advancing a portfolio of projects in Ghana and Côte d'Ivoire through to production.
The Company's flagship project, the Ewoyaa Project in Ghana, is a significant lithium pegmatite discovery on track to become West Africa's first lithium producing mine. The project is fully funded to production under an agreement with Piedmont Lithium for US$102m and set to produce a premium lithium product. A robust update Scoping Study indicates Life of Mine revenues exceeding US$3.4bn.
Atlantic Lithium holds a 560km2 & 774km2 tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licenses.