Last checked at 6 Apr 2023 07:00
06 April 2023
Corporate Update
Directors Dealings
Issue of Equity - Exercise of ESOP Options
The Board of Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, "Atlantic Lithium" or the "Company"), the funded African-focussed lithium exploration and development company targeting to deliver Ghana's first lithium mine, wishes to advise the allotment and issue of a combined total of 3,500,000 ordinary shares of no par value each in the Company ("Ordinary Shares") at a price of 30 pence per share as a result of the exercise of unlisted ESOP options (granted on 9 April 2021).
Amanda Harsas, Finance Director & Company Secretary, acquired 2,500,000 new Ordinary Shares at a price of 30p each as a result of the exercise of ESOP options, for a total consideration of £750,000.
Application will be made for the total 3,500,000 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to take place on or around 17 April 2023.
Following Admission, the shareholdings of the Directors will be as follows:
Director / PDMR Role | Current number of Ordinary Shares held | % of Share Capital |
Neil Herbert | 7,348,892 | 1.21 |
Amanda Harsas | 4,000,000 | 0.66 |
Len Kolff | 3,030,852 | 0.50 |
Stuart Crow | 750,000 | 0.12 |
Kieran Daly | - | - |
Christelle van der Merwe | - | - |
Total | 15,129,744 | 2.48 |
On Admission of the 3,500,000 Ordinary Shares to trading, the issued share capital of the Company will comprise 609,241,660 Ordinary Shares. When calculating voting rights, shareholders should use this figure as the denominator for the calculations by which they determine if they are required to notify their interest in, or change in their interest in, the share capital of the Company.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
ISSUE OF ORDINARY SHARES
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Amanda Harsas | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Finance Director & Company Secretary | ||||
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 value ISIN: AU0000237554 | ||||
b) | Nature of the transaction: | Exercise of ESOP Director Options
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c) | Price(s) and volume(s): |
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d) | Aggregated information:
| Single transaction as in 4 c) above
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e) | Date of the transaction: | 06 April 2023 | ||||
f) | Place of the transaction: | Outside of a trading venue | ||||
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
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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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Yellow Jersey PR Limited Charles Goodwin Bessie Elliot atlantic@yellowjerseypr.com
| Tel: +44 (0)20 3004 9512 |
Notes to Editors:
About Atlantic Lithium
www.atlanticlithium.com.au
Atlantic Lithium is an AIM and ASX-listed lithium company advancing a portfolio of lithium projects in Ghana and Côte d'Ivoire through to production.
The Company's flagship project, the Ewoyaa Project in Ghana, is a significant lithium spodumene pegmatite discovery on track to become Ghana's first lithium-producing mine. The Company signed a funding agreement with Piedmont Lithium Inc. for US$103m towards the development of the Ewoyaa Project. Based on the Pre-Feasibility Study, the Ewoyaa Project has indicated Life of Mine revenues exceeding US$4.84bn, producing a spodumene concentrate via simple gravity only process flowsheet.
Atlantic Lithium holds 560km2 & 774km2 of tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licences.