REG - CleanTech Lithium - Issue of Equity, TVR and Blocklisting Application

Cleantech LithiumAnnouncement

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RNS Number : 0143X  CleanTech Lithium PLC  17 March 2026

17 March 2026

CleanTech Lithium PLC

("CleanTech Lithium", "CTL" or the "Company")

Issue of Equity to Settle Deferred Fees, Total Voting Rights and Block Listing
Application

 

CleanTech Lithium PLC (AIM: CTL, Frankfurt:T2N), an exploration and
development company advancing sustainable lithium projects in Chile, announces
that an application (the "Application") has been made to the London Stock
Exchange ("LSE") to issue equity to former directors to settle historically
deferred fees. This is alongside a block listing application to allow 11p
warrants, previously approved by shareholders, to be issued when notices to
exercise are received and processed.

Issue of Equity to Settle Deferred Fees

The Application has been made for the issue and allotment of a total of
1,252,726 new ordinary shares of £0.02 each (the "New Ordinary Shares") to
former directors who stepped down from CTL's Board on 11 August 2025:

-      Maha Daoudi - 400,030 New Ordinary Shares;

-      Tommy McKeith - 400,030 New Ordinary Shares, and

-      Jonathan Morley-Kirk - 452,666 New Ordinary Shares.

At the time of their departure, the former directors were owed a total of
£145,775 in deferred salaries accrued between August 2024 and the date of
their resignation. Although entitled to have these fees settled in cash, the
former directors have agreed to receive the New Ordinary Shares at a price of
£0.116366 per share. The issue price was calculated by the Company based on
the average of the monthly VWAPs for the periods when the fees were deferred.
The Board notes that settling these historical liabilities in equity rather
than cash supports the Company's ongoing capital preservation objectives,
while the former directors' election to receive shares at this price point
reflects their continued alignment with the Company's future potential.

The admission of the New Ordinary Shares is expected to occur on or around 23
March 2026 (the "Admission"). The New Ordinary Shares, when issued, will rank
pari passu with the existing ordinary shares in the Company.

Total Voting Rights

Following Admission, the Company's issued share capital will consist of
204,189,492 Ordinary Shares, each with voting rights. This figure may be used
by shareholders in the Company as the denominator for the calculations by
which they will determine if they are required to notify their interest in, or
a change to their interest in, CleanTech Lithium under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.

Block Listing Application for Warrants

The Company also announces that it has made an application to the London Stock
Exchange for a block listing of 15,899,873 ordinary shares in the capital of
the Company (the "New Block Listing Shares") and it is expected the block
listing will become effective on or around 23 March 2026. This block listing
is being put in place to allow eligible shareholders to exercise the warrants
which were issued in connection with a placing announced on 11 February 2025
and subsequently approved by shareholders and announced on 24 March 2025.
Eligible shareholders can exercise the warrants under the terms they were
originally issued, namely at an exercise price of 11p per ordinary share, with
an expiry date of 14 February 2029. The New Block Listing Shares, when issued,
will rank pari passu with all existing ordinary shares.  To facilitate this,
a validly submitted Notice to Exercise will need to be made. A template of the
Notice to Exercise can be requested from the Company's registrar,
Computershare, via email at cleantechlithiumwarrants@computershare.co.uk.

The Company will report on shares issued under the block listing every six
months as set out under the AIM Rules.

For the avoidance of doubt, the total voting rights stated above does not
include any of the New Block Listing Shares that might be issued under the
block listing.

 

 For further information contact:

 CleanTech Lithium PLC
 Ignacio Mehech/Gordon Stein/Nick Baxter       Office: +44 (0) 1534 668 321

                                               Mobile: +44 (0) 7494 630 360

                                               Chile office: +562-32239222
 Beaumont Cornish Limited (Nominated Adviser)  +44 (0) 20 7628 3396

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

 Daniel Fox-Davies                             daniel@istar.capital (mailto:daniel@istar.capital)
 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) is an exploration and development
company advancing lithium projects in Chile for the clean energy transition.
CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and
Viento Andino, and exploration stage project in Arenas Blancas (Salar de
Atacama), located in the lithium triangle, a leading centre for battery grade
lithium production.

CleanTech Lithium is committed to utilising Direct Lithium Extraction ("DLE")
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. For more information, please
visit: www.ctlithium.com (http://www.ctlithium.com/)

**ENDS**

 

 

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