REG - Aterian PLC - Increase in EBT Allocation

AterianAnnouncement

14/02/2025 16:45

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RNS Number : 2329X  Aterian PLC  14 February 2025

14 February 2025

 

Aterian Plc

("Aterian" or the "Company")

 

Increase in EBT Allocation

Aterian Plc (LSE: ATN), the critical metal-focused exploration and development
company, announces an increase in the allocation of shares to the Company's
Employee Benefit Trust ("EBT"), previously announced on 10 February 2025. The
EBT allocation has been raised from 361,000 shares to 565,000 shares,
reflecting the Company's commitment to aligning the interests of senior
executives and directors with shareholders through long-term equity
incentives. The additional EBT shares will be used as part of the Company's
ongoing incentive and compensation framework, reinforcing its strategy to
reward and retain key personnel as it advances its critical metals projects.

All new shares issued will rank pari passu with existing Ordinary Shares of
the Company. Following this increase, an application will be made for the
204,000 newly issued shares to be admitted to trading on the London Stock
Exchange, with admission expected to occur on or around 20 February 2025.
Following the issue of these New Ordinary Shares, the Company's enlarged
issued share capital will comprise 12,802,044 Ordinary Shares.

This figure of 12,802,044 represents the total voting rights in the Company
and should be used by shareholders as the denominator for the calculation by
which they can determine if they are required to notify their interest in, or
a change to their interest in the Company under the Financial Conduct
Authority's Disclosure Guidance & Transparency Rules.

Simon Rollason, CEO of Aterian plc, commented:

"We continue to prioritise the alignment of management incentives with
shareholder value. This increase in the EBT allocation underscores our
confidence in the Company's future and supports the retention of key personnel
as we advance our trading of and exploration for critical metals."

 

- ENDS -

 

 

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

 

For further information, please visit the Company's website:
www.aterianplc.com (http://www.aterianplc.com) or contact:

 

Aterian Plc:

Charles Bray, Executive Chairman - charles.bray@aterianplc.com
(mailto:charles.bray@aterianplc.com)

Simon Rollason, Director - simon.rollason@aterianplc.com
(mailto:simon.rollason@aterianplc.com)

 

Financial Adviser and Joint Broker:

Novum Securities Limited

David Coffman

Colin Rowbury

Tel: +44 (0)207 399 9400

 

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Adam Cowl

Tel: +44 20 3470 0470

 

Financial PR:

Bald Voodoo - ben@baldvoodoo.com (mailto:ben@baldvoodoo.com)

Ben Kilbey

Tel: +44 (0)7811 209 344

Notes to Editors:

About Aterian plc

www.aterianplc.com (http://www.aterianplc.com)

 

Aterian plc is an LSE-listed exploration and development company with a
diversified African portfolio of critical metals projects.

Aterian plc is actively seeking to acquire and develop new critical metal
resources to strengthen its existing asset base while supporting ethical and
sustainable supply chains as the world transitions to a sustainable, renewable
future. The supply of these metals is vital for developing the renewable
energy, automotive, and electronic manufacturing sectors, which are playing an
increasing role in reducing carbon emissions and meeting climate ambitions
globally.

 

The Company recently entered into a joint venture agreement with Rio Tinto
Mining and Exploration Limited for Rio Tinto to earn into the HCK project in
southern Rwanda to explore and develop a lithium-tantalum-niobium-tin mining
operation. The Company also holds an exploration licence in Rwanda. Aterian
has a portfolio of multiple copper-silver (+ gold) and base metal projects in
Morocco. In January 2024, the Company announced the acquisition of a 90%
interest in Atlantis Metals. This private Botswana registered company holds
one mineral prospecting licence for copper-silver in the Kalahari Copperbelt
and three for lithium brine exploration in the Makgadikgadi Pans region.

 

The Company's strategy is to seek new exploration and production opportunities
across the African continent and to develop new sources of critical mineral
assets for exploration, development, and trading.

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