REG - CleanTech Lithium - Director's Share Dealing

Cleantech LithiumAnnouncement

09/04/2024 07:00

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RNS Number : 7703J  CleanTech Lithium PLC  09 April 2024

9th April 2024

 

CleanTech Lithium PLC

("CleanTech Lithium", "CTL" or the "Company")

Director's Share Dealing

 

It has come to the attention of the Board of CleanTech Lithium PLC (AIM:CTL,
Frankfurt: T2N, OTCQX: CTLHF), an exploration and development company
advancing lithium projects in Chile, that on 16 August 2023 the Company's CEO,
Aldo Boitano, has entered into a loan agreement with a financial institution
("Lender"), under which he agreed to provide security over ordinary shares
("Ordinary Shares") that he held in the Company. As part of these arrangements
through a series of transactions between 8 September 2023 and 6 February 2024
Mr Boitano transferred his entire holding of 9,400,002 Ordinary Shares to a
custodian account nominated by the Lender. Mr Boitano is not able to ascertain
the extent to which these Ordinary Shares may have been transferred to a
further nominee account in the name of the Lender or the extent to which any
such Ordinary Shares may have been sold by the Lender to third parties.
Consequently, Mr Boitano is unable to disclose his current beneficial holding
of Ordinary Shares to the Company and the extent to which his original holding
of 9,400,002 Ordinary Shares may have been disposed of by the Lender to third
parties.

The granting of security and subsequent transfers of Ordinary Shares are
considered notifiable events which should have been notified by Mr Boitano to
the Company at the relevant time. Accordingly, the Board of CTL has suspended
Mr Boitano from his duties as CEO of the Company, pending an investigation.
The Board of CTL would like to make it clear that Mr Boitano is cooperating
with the investigation. In the interim period and to ensure there is no impact
to the ongoing work programme at Laguna Verde, Steve Kesler, currently
Executive Chairman, will also assume the CEO's responsibilities.

The Company will provide a further update to the market in due course.

-ENDS-

 

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No
596/2014 which is part of UK law by virtue of the European Union (Withdrawal)
Act 2018. Upon publication of this announcement, this inside information is
now considered to be in the public domain. The person who arranged for the
release of this announcement on behalf of the Company was Gordon Stein,
Director and CFO.

 

 For further information contact:

 Celicourt Communications                       +44 (0) 20 7770 6424

 Felicity Winkles/Philip Dennis/Ali AlQahtani   cleantech@celicourt.uk

 Beaumont Cornish Limited                       +44 (0) 207 628 3396

 (Nominated Adviser)

 Roland Cornish/Asia Szusciak

 Canaccord Genuity (Joint Broker)               +44 (0) 207 523 4680

 James Asensio

 Fox-Davies Capital Limited (Joint Broker)      +44 20 3884 8450
 Daniel Fox-Davies                              daniel@fox-davies.com (mailto:daniel@fox-davies.com)

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

About CleanTech Lithium

CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and
development company advancing sustainable lithium projects in Chile for the
clean energy transition. Committed to net-zero, CleanTech Lithium's mission is
to produce material quantities of sustainable battery grade lithium products
using Direct Lithium Extraction technology powered by renewable energy. The
Company plans to be a leading supplier of 'green' lithium to the EV and
battery manufacturing market.

CleanTech Lithium has two key lithium projects, Laguna Verde and Francisco
Basin, and hold licences in Llamara and Salar de Atacama, located in the
lithium triangle, a leading centre for battery grade lithium production. The
two major projects: Laguna Verde and Francisco Basin are situated within
basins controlled by the Company, which affords significant potential
development and operational advantages. All four projects have direct access
to existing infrastructure and renewable power.

CleanTech Lithium is committed to using renewable power for processing and
reducing the environmental impact of its lithium production by utilising
Direct Lithium Extraction with reinjection of spent brine. Direct Lithium
Extraction is a transformative technology which removes lithium from brine,
with higher recoveries than conventional processes. The method offers short
development lead times with no extensive site construction or evaporation pond
development so there is minimal water depletion from the
aquifer. www.ctlithium.com (http://www.ctlithium.com/)

 

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