Corporate Update - Issue of Equity
Source: RNS
28 July 2022
Corporate Update
Directors Dealings
Issue of Equity - Exercise of Options
The Board of Atlantic Lithium Limited (AIM: ALL, OTC: ALLIF, "Atlantic Lithium" or the "Company"), the funded African-focussed lithium exploration and development company targeting to deliver Ghana's first lithium mine, wishes to advise of the allotment and issue of 750,000 ordinary shares of no par value each in the Company ("Ordinary Shares") at a price of 12 pence per share as a result of the exercise of unlisted director options (granted on 24th June 2020).
Atlantic Lithium's Senior Non-Executive Director Mr Stuart Crow acquired 750,000 new Ordinary Shares at a price of 12p each as a result of exercise of director options for a total consideration of £90,000.
Application will be made for the 750,000 Ordinary Shares to be admitted to trading on AIM and admission is expected to take place on or around 4 August 2022 ("Admission").
On Admission of the 750,000 Ordinary Shares to trading the issued share capital of the Company will comprise 580,791,660 Ordinary Shares. When calculating voting rights, shareholders should use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
TABLE 1 - ISSUE OF ORDINARY SHARES
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1. |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name: |
Stuart Crow |
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2. |
Reason for the notification |
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a) |
Position/status: |
Senior Non-Executive Director |
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b) |
Initial notification/Amendment: |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name: |
Atlantic Lithium Limited |
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b) |
LEI: |
213800H1JY3J7BB6BN06 |
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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. |
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a) |
Description of the financial instrument, type of instrument: Identification code: |
Depositary Interests of no par value (Ordinary Shares) ISIN: AU0000XINEX3 |
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b) |
Nature of the transaction: |
Exercise of Director Options
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c) |
Price(s) and volume(s): |
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d) |
Aggregated information: 2. Aggregated volume: 3. Price: |
Single transaction as in 4 c) above
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e) |
Date of the transaction: |
28 July 2022 |
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f) |
Place of the transaction: |
Outside of a trading venue |
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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:
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Atlantic Lithium Limited Neil Herbert (Chairperson) Amanda Harsas (Finance Director and Company Secretary) atlantic@yellowjerseypr.com |
Tel: +61 2 8072 0640 |
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SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat
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Tel: +44 (0)20 3470 0470 |
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Canaccord Genuity Limited Joint Company Broker Raj Khatri James Asensio Harry Rees |
Tel: +44 (0) 20 7523 4500
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Liberum Capital Limited Joint Company Broker Scott Mathieson Edward Thomas Kane Collings |
Tel: +44 (0) 20 3100 2000
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SI Capital Limited Joint Company Broker Nick Emerson Jon Levinson |
Tel: +44 (0) 1483 413 500 Tel: +44 (0) 207 871 4038 |
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Yellow Jersey PR Limited Henry Wilkinson Dominic Barretto James Lingfield
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Tel: +44 (0)20 3004 9512 |
Notes to Editors:
About Atlantic Lithium
Atlantic Lithium (formerly "IronRidge Resources") is an AIM-listed lithium company advancing a portfolio of projects in Ghana and Côte d'Ivoire through to production.
The Company's flagship project, the Ewoyaa Project in Ghana, is a significant lithium pegmatite discovery on track to become Ghana's first lithium producing mine. The project is funded to production under an agreement with Piedmont Lithium for US$102m, based on the updated Scoping Study dated 7 December 2021, indicating Life of Mine revenues exceeding US$3.4bn and set to produce a premium lithium product.
Atlantic Lithium holds a 560km2 & 774km2 tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licenses.
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