REG - Atlantic Lithium Ltd - Result of Annual General Meeting

Atlantic LithiumAnnouncement

30/11/2023 12:00

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RNS Number : 2457V  Atlantic Lithium Limited  30 November 2023

 

30 November 2023

Result of Annual General Meeting

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, advises that all
resolutions put to shareholders at the Company's Annual General Meeting
("AGM"), held earlier today in Perth, Australia, were passed by way of a poll.

In accordance with Listing Rule 3.13.2 and section 251AA(2) of the
Corporations Act 2001 (Cth), details of the results and the proxies received
in respect of each resolution are set out in the attached summary, which can
be found via the following link:

http://www.rns-pdf.londonstockexchange.com/rns/2457V_1-2023-11-30.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/2457V_1-2023-11-30.pdf)

As more than 25% of the votes cast on Resolution 1 were against the adoption
of the Remuneration Report, this constitutes a 'first strike' for the purposes
of the Corporations Act 2001 (Cth) and ASX Listing Rule 3.13.2(f).

The Board will seek to further engage with shareholders to understand their
rationale for voting against Resolution 1, which will be taken into account as
part of the Board's consideration of the Company's future remuneration policy
and practices.

Resolution 15: Approval to issue an additional 10% of the issued capital of
the Company over a 12-month period, was withdrawn on 30 November 2023, prior
to the commencement of the AGM. At the date of the AGM, the Company's market
capitalisation exceeded A$300 million, meaning the Company was therefore
ineligible to seek approval under ASX Listing Rule 7.1A.

Announcement authorised for release by Amanda Harsas, Company Secretary.

 

 

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               Financial Adviser:

 Jeff Keating                        Bessie Elliot                 Raj Khatri (UK) /

                                   atlantic@yellowjerseypr.com

 Charlie Bouverat
                             Duncan St John, Christian Calabrese (Australia)

                                   Tel: +44 (0)20 3004 9512

 Tel: +44 (0)20 3470 0470

                                                                   Corporate Broking:

                                                                   James Asensio

                                                                   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 Definitive Feasibility Study for the Project indicates the production of
3.6Mt of spodumene concentrate over a 12-year mine life, making it one of the
top 10 largest spodumene concentrate mines in the world.

The Project, which was awarded a Mining Lease in October 2023, is being
developed under a funding agreement with Piedmont Lithium Inc.

Atlantic Lithium holds 509km(2) and 774km(2) of tenure across Ghana and Côte
d'Ivoire respectively, comprising significantly under-explored, highly
prospective licences.

 

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