Atlantic Lithium Limited — Director's Dealing 2023

Mar 31, 2023

National Storage Mechanism | Additional information

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 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:

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 [email protected]	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 [email protected]	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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