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

Atlantic LithiumAnnouncement

30/08/2023 07:00

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RNS Number : 7815K  Atlantic Lithium Limited  30 August 2023

 

 

30 August 2023

Grant of Options Under Employee Share Option Plan

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, is
pleased to advise the allotment and issue of a combined total of 4,650,000
unlisted options to key employees (or their nominees) involved in the
development of the Ewoyaa Lithium Project.

The options are granted under the Company's Employee Share Option Plan, have
an exercise price of 30 pence and an expiry date of 31 August 2025. The
options are being granted under the Company's ASX listing rule 7.1 capacity
and shareholder approval is not being sought.

The Company's Remuneration & Nomination Committee believes that the use of
options provides a mechanism to attract, retain and reward employees and
aligns the interests of employees with the growth objectives of the Company.

Commenting, Neil Herbert, Executive Chairman of Atlantic Lithium, said:

"Through the introduction of incentives to key members of our team, outside of
senior management and Director positions, we hope to more closely align the
interests of employees with the long-term growth ambitions of the Company. In
doing so, we aim to attract and retain a highly skilled team, without which
the success of the Company would not be possible. We are, therefore, pleased
to issue these options to employees in recognition of their continued hard
work and as an incentive to deliver further value for all stakeholders."

 

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   Yellow Jersey PR Limited                                           Canaccord Genuity Limited

 Nominated Adviser                Charles Goodwin                                                    Company Broker

 Jeff Keating                     Bessie Elliot                                                      Raj Khatri / James Asensio

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

 Charlie Bouverat
                                                                  Harry Rees

                                Tel: +44 (0)20 3004 9512

 Tel: +44 (0)20 3470 0470
                                                                  Tel: +44 (0) 20 7523 4500

 

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. towards the development of the Ewoyaa Project. Atlantic Lithium
is currently advancing the Ewoyaa Project through feasibility studies and
intends to be producing a spodumene concentrate via simple gravity only
process flowsheet.

Atlantic Lithium holds 560km(2) and 774km(2) of tenure across Ghana and Côte
d'Ivoire respectively, comprising significantly under-explored, highly
prospective licences.

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