REG - Atlantic Lithium Ltd - Issue of Equity – Exercise of ESOP Options

Atlantic LithiumAnnouncement

06/04/2023 07:00

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RNS Number : 5630V  Atlantic Lithium Limited  06 April 2023

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:  Ordinary Shares of no par value

               Identification code:                                          ISIN: AU0000237554
 b)            Nature of the transaction:                                    Exercise of ESOP Director Options

 c)            Price(s) and volume(s):                                        Price(s)   Volume(s)
                                                                             30p         2,500,000

 
 d)            Aggregated information:                                       Single transaction as in 4 c) above

 Price(s)   Volume(s)
                                                                             30p         2,500,000

 

 e)            Date of the transaction:                                      06 April 2023
 f)            Place of the transaction:                                     Outside of a trading venue

 

d)

Aggregated information:

 

Single transaction as in 4 c) above

  Price(s)   Volume(s)
 30p         2,500,000

 

 

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                                           Tel: +61 2 8072 0640

 Neil Herbert (Executive Chairman)

 Amanda Harsas (Finance Director and Company Secretary)

 www.atlanticlithium.com.au (http://www.atlanticlithium.com.au)

 IR@atlanticlithium.com.au

 SP Angel Corporate Finance LLP                                     Tel: +44 (0)20 3470 0470

 Nominated Adviser

 Jeff Keating

 Charlie Bouverat

 Canaccord Genuity Limited                                          Tel: +44 (0) 20 7523 4500

 Joint Company Broker

 Raj Khatri

 James Asensio

 Harry Rees

 Liberum Capital Limited                                            Tel: +44 (0) 20 3100 2000

 Joint Company Broker

 Scott Mathieson

 Edward Thomas

 Kane Collings

 Yellow Jersey PR Limited                                           Tel: +44 (0)20 3004 9512

 Charles Goodwin

 Bessie Elliot
 atlantic@yellowjerseypr.com (mailto:atlantic@yellowjerseypr.com)

Notes to Editors:

 

About Atlantic Lithium

www.atlanticlithium.com.au (http://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 560km(2) & 774km(2) of tenure across Ghana and
Côte d'Ivoire respectively, comprising significantly under-explored, highly
prospective licences.

 

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