Last checked at 8 Apr 2024 07:00
8 April 2024
Director/PDMR Dealings
The Board of Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, "Atlantic Lithium" or the "Company"), the African-focused lithium exploration and development company targeting to deliver Ghana's first lithium mine, wishes to advise that Executive Chairman Neil Herbert, as a Director and person discharging managerial responsibilities ("PDMR") of the Company, has purchased in the market a total of 133,000 ordinary shares of no par value each ("Ordinary Shares"), at an average price of £0.18625 (A$0.36), equating to an aggregate value of £24,771 (A$47,590), as follows:
Director / PDMR Role | Number of Ordinary Shares purchased | Resultant number of Ordinary Shares beneficially held | Resultant percentage of issued share capital beneficially held |
Mr Neil Herbert Executive Chairman | 133,000 | 8,106,305 | 1.25% |
Following the share purchase, Directors and persons discharging managerial responsibilities ("PDMR") of the Company have purchased a total of 10,152,227 shares equating to a value of A$5,192,393 (£2,794,015) in the last 13 months.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
PURCHASE OF ORDINARY SHARES
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Neil Herbert | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Executive Chairman | ||||
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. | 1. 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 in the Company ISIN: AU0000237554 | ||||
b) | Nature of the transaction: | Purchase of Ordinary Shares
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c) | Price(s) and volume(s):
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d) | Aggregated information:
| Purchase of 133,000 Ordinary Shares at an average price of £0.18625 (AUD0.36) per Ordinary Share
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e) | Date of the transaction: | 5 April 2024 | ||||
f) | Place of the transaction: | AIM (ALL) | ||||
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
For any further information, please contact:
Atlantic Lithium Limited
Neil Herbert (Executive Chairman)
Amanda Harsas (Finance Director and Company Secretary)
| www.atlanticlithium.com.au | |||
| IR@atlanticlithium.com.au | |||
| Tel: +61 2 8072 0640 | |||
SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat Tel: +44 (0)20 3470 0470 |
Yellow Jersey PR Limited Charles Goodwin Bessie Elliot atlantic@yellowjerseypr.com Tel: +44 (0)20 3004 9512
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Canaccord Genuity Limited Financial Adviser: Raj Khatri (UK) / Duncan St John, Christian Calabrese (Australia)
Corporate Broking: James Asensio Tel: +44 (0) 20 7523 4500 |
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Notes to Editors:
About Atlantic Lithium
www.atlanticlithium.com.au
Atlantic Lithium is an AIM and ASX-listed lithium company advancing its flagship project, the Ewoyaa Lithium Project, a significant lithium spodumene pegmatite discovery in Ghana, through to production to become the country's first lithium-producing mine.
The Definitive Feasibility Study for the Project indicates the production of 3.6Mt of spodumene concentrate over a 12-year mine life, making it one of the largest spodumene concentrate mines in the world.
The Project, which was awarded a Mining Lease in October 2023, is being developed under an earn-in agreement with Piedmont Lithium Inc.
Atlantic Lithium holds a portfolio of lithium projects within 509km2 and 774km2 of granted and under-application tenure across Ghana and Côte d'Ivoire respectively, which, in addition to the Project, comprises significantly under-explored, highly prospective licences.