REG - Atlantic Lithium Ltd - Notice of Extraordinary General Meeting

Atlantic LithiumAnnouncement

31/01/2023 07:01

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RNS Number : 3304O  Atlantic Lithium Limited  31 January 2023

31 January 2023

 

Notice of Extraordinary General Meeting

Proposed Grant of Options

Aligning the Board with Growing Shareholder Value

 

Atlantic Lithium Limited (AIM: ALL, OTC: ALLIF, ASX: A11 "Atlantic Lithium" or
the "Company"), the funded African-focussed lithium exploration and
development company targeting to deliver Ghana's first lithium mine, announces
that it is to hold an Extraordinary General Meeting ("EGM") at the office of
HopgoodGanim Lawyers, Level 7, Waterfront Place, 1 Eagle Street, Brisbane QLD
4000 on Wednesday, 1(st) March 2023 at 9:00am (Brisbane time, Australia).

 

As part of the Company's ongoing review of the appropriateness of its
remuneration and incentive arrangements, the Company's Nomination &
Remuneration Committee recommended that the current executive and senior
independent non-executive team's option entitlements be reviewed and the
proposed that the unlisted options below be issued to Directors to ensure
appropriate and aligned incentive packages are in place.

 

The use of options provides a mechanism to incentivise the Directors and align
with the growth and development of the Company and its projects.

 

Issue of Share Options

 

Accordingly, the Company will issue the following unlisted options to
directors:

 

Director                                Number
of                          Strike
Price         Term to Expiry

 
Options

Mr Neil Herbert
2,000,000                             60
pence              Two years from date of issue

 

Mr Lennard Kolff
2,000,000                             60
pence              Two years from date of issue

 

Ms Amanda Harsas
2,000,000                             60
pence              Two years from date of issue

 

Mr Stuart Crow
1,000,000                             60
pence              Two years from date of issue

 

The EGM materials will be despatched to shareholders today. A copy of the EGM
materials can be viewed via the following links:

 

Notice of Meeting & Explanatory Memorandum:

http://www.rns-pdf.londonstockexchange.com/rns/3304O_1-2023-1-30.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3304O_1-2023-1-30.pdf)

A copy of the EGM materials can also be obtained via the Company's website
https://www.atlanticlithium.com.au/gm-notices
(https://www.atlanticlithium.com.au/gm-notices)

 

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

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 (formerly "IronRidge Resources") 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 licenses.

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