TR-1 Notification of Major Holdings

Atlantic Lithium Limited

05 November 2024

 

5 November 2024

TR-1 Notification of Major Holdings

Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH, OTCQX: ALLIF, "Atlantic Lithium" or the "Company"), the Africa-focused lithium exploration and development company targeting the delivery of Ghana's first lithium mine, wishes to announce that the Company has received the following TR-1 notification from major shareholder Assore International Holdings Limited ("Assore").

The notification reflects Assore's shareholding in the Company changing over a percentage threshold resulting from the admission to trading of the Tranche 1 Shares issued in line with the Company's successful Equity Placing (refer announcement of 25 October 2024).

The voting rights of Assore currently sit at 27.16% of the total issued capital of the Company.

Revised Shareholdings Following Equity Placing

Following the issue of Tranche 1 and Tranche 2 Shares, as detailed further in the announcement of 25 October 2024, the revised shareholdings of Assore and the Participating Directors will be as follows:

	Current Shareholding1	Percentage of Issued Share Capital1	Subscription for Tranche 2 Shares	Resultant Shareholding after Tranche 2 Shares issued2	Percentage of enlarged Issued Share Capital2
Assore International Holdings Limited	179,025,852	27.16%*	32,775,013	211,800,865	30.56%
Neil Herbert	8,106,305	1.23%*	565,217	8,671,522	1.25%
Keith Muller	200,000	0.03%	565,217	765,217	0.11%
Edward Koranteng	Nil	0.00%	130,435	130,435	0.02%

¹ Following issue of Tranche 1 Shares

² Following issue of Tranche 2 Shares, conditional on shareholder approval at the Company's Annual General Meeting to be held on 29 November 2024

^* Amended from announcement of 25 October 2024

The above table includes two amendments to the percentage of issued share capital in respect of Assore and Neil Herbert, which were calculated erroneously in the announcement of 25 October 2024.

Authorised for release by Amanda Harsas, Finance Director and Company Secretary, Atlantic Lithium Limited.

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii:				Atlantic Lithium Limited
1b. Please indicate if the issuer is a non-UK issuer  (please mark with an "X" if appropriate)
Non-UK issuer						X
2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights						X
Other (please specify) iii:
3. Details of person subject to the notification obligation iv
Name			Assore International Holdings Limited
City and country of registered office (if applicable)			Winchester, United Kingdom
4. Full name of shareholder(s) (if different from 3.) v
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached vi:			30 / 10 / 2024
6. Date on which issuer notified (DD/MM/YYYY):			30 / 10 / 2024
7. Total positions of person(s) subject to the notification obligation
	% of voting rights attached to shares (total of 8. A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)			Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer (8.A + 8.B) vii
Resulting situation on the date on which threshold was crossed or reached	27.16				27.16	179,025,852
Position of previous notification (if applicable)	28.40				28.40	179,025,852

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)	Number of voting rights ix		% of voting rights
	Direct (DTR5.1)	Indirect  (DTR5.2.1)	Direct (DTR5.1)			Indirect (DTR5.2.1)
AU0000237554	179,025,852		27.16
SUBTOTAL 8. A	179,025,852		27.16
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument	Expiration date x	Exercise/ Conversion Period xi	Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights
		SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial instrument	Expiration date x	Exercise/ Conversion Period xi	Physical or cash Settlement xii	Number of voting rights		% of voting rights
			SUBTOTAL 8.B.2
9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii					X
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) xiv
Name xv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold			Total of both if it equals or is higher than the notifiable threshold
10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional information xvi

Place of completion	Johannesburg, South Africa
Date of completion	30 October 2024

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]		Yellow Jersey PR Limited Charles Goodwin Bessie Elliot [e-mail] Tel: [phone]	Canaccord Genuity Limited Financial Adviser: Raj Khatri (UK) / Duncan St John, Christian Calabrese (Australia) Corporate Broking: James Asensio Tel: [phone]

Notes to Editors:

About Atlantic Lithium

www.atlanticlithium.com.au

Atlantic Lithium is an AIM, ASX, GSE and OTCQX-listed lithium company advancing its flagship project, the Ewoyaa Lithium Project, a significant lithium spodumene pegmatite discovery in Ghana, through to production to become the country'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 largest spodumene concentrate mines in the world.

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

Atlantic Lithium holds a portfolio of lithium projects within 509km² and 771km² of granted and under-application tenure across Ghana and Côte d'Ivoire respectively, which, in addition to the Project, comprises significantly under-explored, highly prospective licences.

 

END