REG - CleanTech Lithium - ASX-Listing Admission Process Update

Cleantech LithiumAnnouncement

09/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240909:nRSI3269Da&default-theme=true

RNS Number : 3269D  CleanTech Lithium PLC  09 September 2024

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY IN THE
UNITED STATES, CANADA, JAPAN, SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN
WHICH SUCH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. ANY FAILURE TO
COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF APPLICABLE
SECURITIES LAWS. PLEASE SEE THE SECTION ENTITLED "IMPORTANT INFORMATION"
TOWARDS THE END OF THIS ANNOUNCEMENT.

9 September 2024

CleanTech Lithium PLC ("CleanTech Lithium" or the "Company")

ASX-listing Admission Process and subsequently Offer Period extended

 

CleanTech Lithium PLC (AIM: CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration
and development company advancing lithium projects in Chile, announces that
whilst the admission process for the Australian Securities Exchange ("ASX")
duel-listing runs its course over the coming weeks, the Offer Period has been
extended by up to two weeks accordingly.

Capitalised terms that are used but not defined in this announcement have the
meanings given to them in the Replacement Prospectus, as reported by the
Company on 27 August 2024.

Background:

On 16 August 2024, the Company filed its application for admission to the ASX.
The Company is awaiting a formal response from the ASX, a process which can
normally take four-six weeks from filing until admission and commencement of
trading.  The original timetable reported by the Company indicated that the
closing dates for the Offer would be 9 September 2024, with the Settlement
Date following on 16 September 2024 and an expected commencement date for
trading on the ASX on a normal settlement basis being on or around 26
September 2024.  This is the date which the ASX is currently showing on its
website (Upcoming floats and listings (asx.com.au)
(https://www.asx.com.au/listings/upcoming-floats-and-listings) ).

A condition of the Offer is that the Company receives conditional approval
("Conditional Approval") from the ASX.  Receipt of Conditional Approval would
then trigger the completion of the Offer process and the subsequent standard
process leading to commencement of trading on the ASX.

Revised Timetable and Extension to Offer Period:

The latest information available to the Company is that the ASX may be in a
position to formally respond to the Company's application for admission within
the next two weeks and, as a result the Company has taken the opportunity, in
consultation with its joint brokers, Fox-Davies Capital Ltd and CLSA Australia
Pty Ltd (the "Brokers"), to extend the Offer Period up to 23 September 2024.
 

CleanTech Lithium advises that the Offer Period Closing Date will extend from
9 September 2024 to 5pm AWST on 23 September 2024 or an earlier closing date
as determined by the Brokers, following Conditional Approval from the ASX
(assuming such Conditional Approval is achieved).  The Settlement Date will
now be three days after the closing of the Offer Period.

The latest timetable is as follows, although it is possible this may be
shortened if Conditional Approval is received earlier than expected and the
Offer Period closes earlier too.

 

 

 

 EVENT                                                                       DATE
 Lodgement of Prospectus with ASIC                                           13 August 2024
 Dispatch of General Meeting Notice                                          13 August 2024
 Opening Date for the Offers                                                 21 August 2024
 General Meeting                                                             11am on 2 September 2024 (UTC)
 Closing Date for the Offers                                                 23 September 2024
 Settlement Date                                                             26 September 2024
 Issue of New Securities under the Offers (Allotment Date)                   27 September 2024
 Expected dispatch of holding statements and allotment confirmation advices  1 October 2024
 Expected Admission                                                          4 October 2024
 Expected commencement of trading on ASX on a normal settlement basis        7 October 2024

 

The Company will provide a further update once it has received confirmation of
the proposed ASX Admission and commencement of trading dates.

 

To participate in the Offer:

Investors looking to participate in the offers under the Replacement
Prospectus can do so by contacting their broker, or if you are a member of the
Australian public, by following the instructions at
https://www.computersharecas.com.au/ctloffer
(https://www.computersharecas.com.au/ctloffer) .

Further information about how to apply and a copy of the Replacement
Prospectus can be found here: https://ctlithium.com/investors/asx-listing/
(https://ctlithium.com/investors/asx-listing/) . CleanTech Lithium recommends
that investors read the Replacement Prospectus in full.

 

 For further information contact:
 CleanTech Lithium PLC
 Steve Kesler/Gordon Stein/Nick Baxter          Jersey office: +44 (0) 1534 668 321

                                                Chile office: +562-32239222
                                                Or via Celicourt
 Celicourt Communications                       +44 (0) 20 7770 6424

 Felicity Winkles/Philip Dennis/Ali AlQahtani   cleantech@celicourt.uk (mailto:cleantech@celicourt.uk)
 Beaumont Cornish Limited (Nominated Adviser)   +44 (0) 20 7628 3396

 Roland Cornish/Asia Szusciak
 Fox-Davies Capital Limited (Joint Broker)      +44 (0) 20 3884 8450

 Daniel Fox-Davies                              daniel@fox-davies.com (mailto:daniel@fox-davies.com)
 Canaccord Genuity (Joint Broker)               +44 (0) 20 7523 4680

 James Asensio

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

Notes

CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and
development company advancing lithium projects in Chile for the clean energy
transition. Committed to net-zero, CleanTech Lithium's mission is to become a
new supplier of battery grade lithium using Direct Lithium Extraction
technology powered by renewable energy.

CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and
Viento Andino, and exploration stage projects in Llamara and Arenas Blancas
(Salar de Atacama), located in the lithium triangle, a leading centre for
battery grade lithium production. The two most advanced projects: Laguna Verde
and Viento Andino are situated within basins controlled by the Company,
which affords significant potential development and operational advantages.
All four projects have good access to existing infrastructure.

CleanTech Lithium is committed to utilising Direct Lithium Extraction with
reinjection of spent brine resulting in no aquifer depletion. Direct Lithium
Extraction is a transformative technology which removes lithium from brine
with higher recoveries, short development lead times and no extensive
evaporation pond construction. www.ctlithium.com (http://www.ctlithium.com/)

 

**ENDS**

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDSSAFIAELSESU