23 December 2024
Grant of Performance Rights
to Directors and Senior Employees
The Board of 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 advise that, following shareholder approval at its Annual
General Meeting ("AGM"), which was held on 29 November 2024,
3,772,866 performance rights over new ordinary shares of no par
value each in the Company have today been issued to Directors (who
are considered Directors and persons discharging managerial
responsibilities ("PDMRs") of the Company).
The terms and conditions of the performance
rights are in accordance with the Atlantic Lithium Limited Rights
Plan ("Rights Plan") and are set out in the Explanatory Memorandum
which accompanied the Notice of AGM, which can be accessed via the
following link: https://www.atlanticlithium.com.au/gm-notices.
Accordingly, the Company has issued the
following unlisted performance rights to Directors:
|
Director
|
Number of
Performance Rights
|
|
Mr Neil Herbert
|
1,680,640
|
|
Mr Keith Muller
|
1,086,128
|
|
Ms Amanda Harsas
|
1,006,098
|
|
Total
|
3,772,866
|
Grant of Performance Rights to Key
Senior Employees
In addition, the Company advises the allotment
and issue of a combined total of 3,198,183 unlisted performance
rights to key senior employees involved in the development of the
Ewoyaa Lithium Project.
The performance rights are issued over new
ordinary shares for nil consideration. Vesting of the performance
rights is subject to performance conditions as set by the Board and
the recipient remaining employed by the Company until the end of
the measurement period. The measurement period for the performance
rights begins on 31 July 2024 and ends on 30 July 2027. The
performance rights are being granted under the Company's ASX
listing rule 7.1 capacity and shareholder approval is not being
sought.
The Company's Remuneration & Nomination
Committee believes that the use of performance rights provides a
mechanism to attract, retain and reward employees and aligns the
interests of employees with the growth objectives of the
Company.
Authorised for release by Amanda Harsas,
Finance Director and Company Secretary, Atlantic Lithium
Limited.
NOTIFICATION
AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH
THEM:
ISSUE OF
UNLISTED PERFORMANCE RIGHTS
|
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:
|
Performance Rights over ordinary shares of no
par value each in the Company
ISIN: AU0000237554
|
|
b)
|
Nature of the
transaction:
|
Grant of Performance Rights
|
|
c)
|
Price(s) and
volume(s):
|
|
Price(s)
|
Volume(s)
|
|
Nil
|
1,680,640
|
|
|
d)
|
Aggregated
information:
|
Single transaction as in 4 c) above
|
Price(s)
|
Volume(s)
|
|
Nil
|
1,680,640
|
|
|
e)
|
Date of the
transaction:
|
23 December 2024
|
|
f)
|
Place of the
transaction:
|
Outside of a trading venue
|
NOTIFICATION
AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH
THEM:
ISSUE OF
UNLISTED PERFORMANCE RIGHTS
|
1.
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
a)
|
Name:
|
Keith Muller
|
|
2.
|
Reason for the
notification
|
|
a)
|
Position/status:
|
Chief Executive Officer
|
|
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:
|
Performance Rights over ordinary shares of no
par value each in the Company
ISIN: AU0000237554
|
|
b)
|
Nature of the
transaction:
|
Grant of Performance Rights
|
|
c)
|
Price(s) and
volume(s):
|
|
Price(s)
|
Volume(s)
|
|
Nil
|
1,086,128
|
|
|
d)
|
Aggregated
information:
|
Single transaction as in 4 c) above
|
Price(s)
|
Volume(s)
|
|
Nil
|
1,086,128
|
|
|
e)
|
Date of the
transaction:
|
23 December 2024
|
|
f)
|
Place of the
transaction:
|
Outside of a trading venue
|
NOTIFICATION
AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH
THEM:
ISSUE OF
UNLISTED PERFORMANCE RIGHTS
|
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 and 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.
|
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:
|
Performance Rights over ordinary shares of no
par value each in the Company
ISIN: AU0000237554
|
|
b)
|
Nature of the
transaction:
|
Grant of Performance Rights
|
|
c)
|
Price(s) and
volume(s):
|
|
Price(s)
|
Volume(s)
|
|
Nil
|
1,006,098
|
|
|
d)
|
Aggregated
information:
|
Single transaction as in 4 c) above
|
Price(s)
|
Volume(s)
|
|
Nil
|
1,006,098
|
|
|
e)
|
Date of the
transaction:
|
23 December 2024
|
|
f)
|
Place of the
transaction:
|
Outside of a trading venue
|
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
|
Yellow Jersey PR
Limited
Charles
Goodwin
Bessie
Elliot
atlantic@yellowjerseypr.com
Tel: +44 (0)20 3004
9512
|
Canaccord Genuity
Limited
Financial
Adviser:
Raj Khatri (UK)
/
Duncan St John,
Christian Calabrese (Australia)
Corporate
Broking:
James
Asensio
Tel: +44 (0) 20 7523
4500
|
|
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.1 2
The Project was awarded a Mining
Lease in October 2023, an Environmental Protection Agency ("EPA")
Permit in September 2024, and a Mine Operating Permit in October
2024 and is being developed under an earn-in agreement with
Piedmont Lithium Inc.
The Ewoyaa Mineral Resource Estimate
(JORC) totals 36.8Mt @ 1.24% Li2O and includes 3.7Mt @
1.37% Li₂O in the Measured category, 26.1Mt @ 1.24% Li₂O in the
Indicated category and 7.0Mt @ 1.15% Li₂O in the Inferred
category.1 Ore Reserves (Probable) of 25.6Mt @ 1.22%
Li2O have been reported for the Project.
1
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 Note
1 Ore Reserves, Mineral
Resources and Production Targets
The information in this announcement
that relates to Exploration Results, Ore Reserves, Mineral
Resources and Production Targets complies with the 2012 Edition of
the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (JORC Code). The information in this
announcement relating to the Mineral Resource Estimate ("MRE") of
36.8Mt @ 1.24% Li₂O
for the Ewoyaa Lithium Project ("Ewoyaa" or the "Project") is
extracted from the Company's announcement entitled
"New Dog-Leg Target Delivers Increase to
Ewoyaa MRE", dated 30 July 2024, which is
available at www.atlanticlithium.com.au.
The MRE includes a total of 3.7Mt @ 1.37% Li₂O in the Measured category, 26.1Mt @
1.24% Li₂O in the
Indicated category and 7.0Mt @ 1.15% Li₂O in the Inferred category. The
information in this announcement relating to the Ore Reserves
(Probable) of 25.6Mt @ 1.22% Li2O and relating to the
Production Target of 3.6Mt of spodumene concentrate over a 12-year
mine life is extracted from the Company's announcement entitled
"Ewoyaa Lithium Project Definitive
Feasibility Study", dated 29 June 2023,
which is available at www.atlanticlithium.com.au.
The Company confirms, in the case of Mineral Resources, Ore
Reserves and Production Targets, that all material assumptions and
technical parameters underpinning the estimates continue to apply.
Material assumptions for the Project have been revised on grant of
the Mining Lease for the Project, announced by the Company on 20
October 2023 in the announcement entitled, "Mining Lease Granted for Ewoyaa Lithium
Project". The Company is not aware of any
new information or data that materially affects the information
included in this announcement, the announcement dated 30 July 2024,
the announcement dated 29 June 2023, or the announcement dated 20
October 2023.
2 Ewoyaa to become one of
the largest spodumene concentrate producers globally - Based on a
comparison of targeted spodumene concentrate production capacity
(ktpa, 100% basis) of select hard rock spodumene projects globally
(refer Company presentation dated
8 September
2023).
Competent Persons
Information in this announcement
relating to Mineral Resources was compiled by Shaun Searle, a
Member of the Australian Institute of Geoscientists. Mr
Searle has sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity being undertaken to qualify as a Competent Person as
defined in the 2012 Edition of the 'Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves' and is
a Qualified Person under the AIM Rules. Mr Searle is a director of
Ashmore. Ashmore and the Competent Person are independent of the
Company and other than being paid fees for services in compiling
this report, neither has any financial interest (direct or
contingent) in the Company. Mr Searle consents to the inclusion in
the report of the matters based upon the information in the form
and context in which it appears.
Information in this announcement
relating to Ore Reserves was compiled by Mr Harry Warries. All
stated Ore Reserves are completely included within the quoted
Mineral Resources and are quoted in dry tonnes. Mr Warries is a
Fellow of the Australasian Institute of Mining and Metallurgy and
an employee of Mining Focus Consultants Pty Ltd. He has sufficient
experience, relevant to the style of mineralisation and type of
deposit under consideration and to the activity he is undertaking,
to qualify as a Competent Person as defined in the 'Australasian
Code for Reporting of Mineral Resources and Ore Reserves' of
December 2012 ("JORC Code") as prepared by the Joint Ore Reserves
Committee of the Australasian Institute of Mining and Metallurgy,
the Australian Institute of Geoscientists and the Minerals Council
of Australia. Mr Warries gives Atlantic Lithium Limited consent to
use this reserve estimate in reports.
The Company confirms that the form
and context in which the Competent Persons' findings are presented
have not been materially modified from the original market
announcement.