Issue of Options

RNS Number : 8594U
Atlantic Lithium Limited
31 March 2023
 

31 March 2023

 

Corporate Update

Issue of Options

Aligning the Board with Growing Shareholder Value

 

The Board of Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, "Atlantic Lithium" or the "Company"), the funded African-focussed lithium exploration and development company targeting to deliver Ghana's first lithium mine , is pleased to advise the allotment and issue of unlisted options to Directors following approval by shareholders.

 

Following a review of the appropriateness of its remuneration and incentive arrangements for members of its current executive team and senior independent non-executive director, the options listed below were approved by the shareholders at the Extraordinary General Meeting held on 1 March 2023. The Company's Nomination & Remuneration Committee believe that the use of options provides a mechanism to incentivise the Directors with the growth and development of the Company and its projects, driving value for the Company's shareholders.

 

Issue of Share Options

 

Accordingly, the Company has issued the following unlisted ESOP options to directors:

 

Director 

Number of Options

Strike Price

Expiry

Mr Neil Herbert

2,000,000

60 pence

31 March 2025

Mr Lennard Kolff

2,000,000

60 pence

31 March 2025

Ms Amanda Harsas

2,000,000

60 pence

31 March 2025

Mr Stuart Crow

1,000,000

60 pence

31 March 2025

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:

 

ISSUE OF UNLISTED OPTIONS

 

1. 

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Neil Herbert

2. 

Reason for the notification

a)

Position/status:

Executive Chairman

b)

Initial notification/Amendment:

Initial notification 

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Atlantic Lithium Limited 

b)

LEI:

213800H1JY3J7BB6BN06

4. 

1.  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted.

a)

Description of the financial instrument, type of instrument:

Identification code:

Unlisted options exercisable through to 31 March 2025

ISIN:  AU0000237554

b)

Nature of the transaction:

Issue of ESOP Options

 

c)

Price(s) and volume(s):

Price(s)

Volume(s)

60p

 

2,000,000

 

 

d)

Aggregated information:

2.  Aggregated volume:

3.  Price:

Single transaction as in 4 c) above

 Price(s)

Volume(s)

60p

 

2,000,000

 


e)

Date of the transaction:

31 March 2023

f)

Place of the transaction:

Outside of a trading venue

 

 

1. 

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Lennard Kolff van Oosterwijk

2. 

Reason for the notification

a)

Position/status:

Interim CEO / Director

b)

Initial notification/Amendment:

Initial notification 

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Atlantic Lithium Limited 

b)

LEI:

213800H1JY3J7BB6BN06

4. 

1.  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted.

a)

Description of the financial instrument, type of instrument:

Identification code:

Unlisted options exercisable through to 31 March 2025

ISIN:  AU0000237554

b)

Nature of the transaction:

 Issue of ESOP Options

c)

Price(s) and volume(s):

 Price(s)

Volume(s)

60p

 

2,000,000

 

 

d)

Aggregated information:

 

Single transaction as in 4 c) above

 Price(s)

Volume(s)

60p

 

2,000,000

 

 

 

e)

Date of the transaction:

31 March 2023

f)

Place of the transaction:

Outside of a trading venue

 

1. 

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Amanda Harsas

2. 

Reason for the notification

a)

Position/status:

Finance Director & Company Secretary

b)

Initial notification/Amendment:

Initial notification    

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Atlantic Lithium Limited 

b)

LEI:

213800H1JY3J7BB6BN06

4. 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted.

a)

Description of the financial instrument, type of instrument:

Identification code:

Unlisted options exercisable through to 3 1 March 2025.

ISIN:  AU0000237554

b)

Nature of the transaction:

  Issue of ESOP Options

c)

Price(s) and volume(s):

 

 Price(s)

Volume(s)

60p

 

2,000,000

 


d)

Aggregated information:

 

Single transaction as in 4 c) above

 Price(s)

Volume(s)

60p

 

2,000,000

 


e)

Date of the transaction:

31 March 2023

f)

Place of the transaction:

Outside of a trading venue

 

1. 

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Stuart Crow

2. 

Reason for the notification

a)

Position/status:

Senior Non-Executive Director

b)

Initial notification/Amendment:

Initial notification 

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Atlantic Lithium Limited 

b)

LEI:

213800H1JY3J7BB6BN06

4. 

1.  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted.

a)

Description of the financial instrument, type of instrument:

Identification code:

Unlisted options exercisable through to 31 March 2025

ISIN:  AU0000237554

b)

Nature of the transaction:

Issue of ESOP Options

c)

Price(s) and volume(s):

Price(s)

Volume(s)

60p

 

1,000,000

 

 

d)

Aggregated information:

2.  Aggregated volume:

3.  Price:

Single transaction as in 4 c) above

 Price(s)

Volume(s)

60p

 

1,000,000

 


e)

Date of the transaction:

31 March 2023

f)

Place of the transaction:

Outside of a trading venue

 

 

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

 

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

Nominated Adviser

Jeff Keating

Charlie Bouverat

Tel: +44 (0)20 3470 0470

 

Canaccord Genuity Limited

Joint Company Broker

Raj Khatri

James Asensio

Harry Rees

 

Tel: +44 (0) 20 7523 4500

 

 

Liberum Capital Limited

Joint Company Broker

Scott Mathieson

Edward Thomas

Kane Collings

 

Tel: +44 (0) 20 3100 2000 

 

 


Yellow Jersey PR Limited

Charles Goodwin

Bessie Elliot
atlantic@yellowjerseypr.com

 

Tel: +44 (0)20 3004 9512

Notes to Editors:

 

About Atlantic Lithium

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 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 licences.

 

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