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

Atlantic LithiumAnnouncement

22/08/2023 07:00

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RNS Number : 0542K  Atlantic Lithium Limited  22 August 2023

 

 

22 August 2023

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 African-focused lithium exploration
and development company targeting to deliver Ghana's first lithium mine,
wishes to advise the allotment and issue of 3,000,000 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 which were granted
on 18 August 2021 to Len Kolff and held in the name of a person closely
associated ("PCA") of Mr Kolff.

A PCA of Len Kolff, Head of Business Development & Chief Geologist, has
acquired 3,000,000 new Ordinary Shares at a price of 30p each as a result of
the exercise of ESOP options, for a total consideration of £900,000.

Application will be made for the total 3,000,000 Ordinary Shares to be
admitted to trading on AIM ("Admission"). Admission is expected to take place
on or around 30 August 2023.

Following Admission, the beneficial shareholdings of the Directors will be as
follows:

 Director / PDMR Role      Current number of Ordinary Shares held  % of Share Capital
 Neil Herbert              7,638,892                               1.25
 Amanda Harsas             4,200,000                               0.68
 Len Kolff                 6,180,852                               1.01
 Patrick Brindle           108,000                                 0.02
 Keith Muller              -                                       -
 Kieran Daly               -                                       -
 Christelle van der Merwe  -                                       -
 Total                     18,127,744                              2.96

 

On Admission of the 3,000,000 Ordinary Shares to trading, the issued share
capital of the Company will comprise 612,241,660 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:                                                         Melisa Kolff van Oosterwijk
 2.          Reason for the notification
 a)          Position/status:                                              PCA of Lennard Kolff van Oosterwijk, Head of Business Development & Chief
                                                                           Geologist
 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 Options

 c)          Price(s) and volume(s):                                        Price(s)   Volume(s)
                                                                           30p         3,000,000

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

 Price(s)   Volume(s)
                                                                           30p         3,000,000

 

 e)          Date of the transaction:                                      22 August 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         3,000,000

 

 

e)

Date of the transaction:

22 August 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

 

 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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