Issue of Equity - Exercise of ESOP Options

Atlantic Lithium Limited

22 August 2023

 

22 August 2023

Directors Dealings
Issue of Equity - Exercise of ESOP Options

The Board of Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, "Atlantic Lithium" or the "Company"), the African-focused lithium exploration and development company targeting to deliver Ghana's first lithium mine, wishes to advise the allotment and issue of 3,000,000 ordinary shares of no par value each in the Company ("Ordinary Shares") at a price of 30 pence per share as a result of the exercise of unlisted ESOP options which were granted on 18 August 2021 to Len Kolff and held in the name of a person closely associated ("PCA") of Mr Kolff.

A PCA of Len Kolff, Head of Business Development & Chief Geologist, has acquired 3,000,000 new Ordinary Shares at a price of 30p each as a result of the exercise of ESOP options, for a total consideration of £900,000.

Application will be made for the total 3,000,000 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to take place on or around 30 August 2023.

Following Admission, the beneficial shareholdings of the Directors will be as follows:

Director / PDMR Role	Current number of Ordinary Shares held	% of Share Capital
Neil Herbert	7,638,892	1.25
Amanda Harsas	4,200,000	0.68
Len Kolff	6,180,852	1.01
Patrick Brindle	108,000	0.02
Keith Muller	-	-
Kieran Daly	-	-
Christelle van der Merwe	-	-
Total	18,127,744	2.96

On Admission of the 3,000,000 Ordinary Shares to trading, the issued share capital of the Company will comprise 612,241,660 Ordinary Shares. When calculating voting rights, shareholders should use this figure as the denominator for the calculations by which they determine if they are required to notify their interest in, or 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:

ISSUE OF ORDINARY SHARES

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Melisa Kolff van Oosterwijk
2.	Reason for the notification
a)	Position/status:	PCA of Lennard Kolff van Oosterwijk, Head of Business Development & Chief Geologist
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:	Ordinary Shares of no par value ISIN: AU0000237554
b)	Nature of the transaction:	Exercise of ESOP Options
c)	Price(s) and volume(s):	Price(s) Volume(s) 30p 3,000,000
d)	Aggregated information:	Single transaction as in 4 c) above  Price(s) Volume(s) 30p 3,000,000
e)	Date of the transaction:	22 August 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
	[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 Company Broker Raj Khatri / James Asensio Harry Rees Tel: [phone]

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. towards the development of the Ewoyaa Project. Atlantic Lithium is currently advancing the Ewoyaa Project through feasibility studies and intends to be producing a spodumene concentrate via simple gravity only process flowsheet.

Atlantic Lithium holds 560km² and 774km² of tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licences.

 

END