Notice of Extraordinary General Meeting

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 

A copy of the EGM materials can also be obtained via the Company's website 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 Neil Herbert (Executive Chairman) Amanda Harsas (Finance Director and Company Secretary) www.atlanticlithium.com.au [e-mail]	Tel:  [phone]
SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat	Tel: [phone]
Canaccord Genuity Limited Joint Company Broker Raj Khatri James Asensio Harry Rees	Tel: [phone]
Liberum Capital Limited Joint Company Broker Scott Mathieson Edward Thomas Kane Collings	Tel: [phone]
Yellow Jersey PR Limited Charles Goodwin Bessie Elliot [e-mail]	Tel: [phone]

Notes to Editors:

About Atlantic Lithium

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 560km² & 774km² of tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licenses.

 

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