REG - Atlantic Lithium Ltd - Grant of Performance Rights to Employees

Atlantic LithiumAnnouncement

16/08/2024 07:00

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RNS Number : 7400A  Atlantic Lithium Limited  16 August 2024

 

16 August 2024

Grant of Performance Rights to Employees

The Board of Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH, OTCQX:
ALLIF, "Atlantic Lithium" or the "Company"), the African-focused lithium
exploration and development company targeting to deliver Ghana's first lithium
mine, is pleased to advise the allotment and issue of a combined total of
1,402,492 unlisted performance rights under the Company's Rights Plan 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 2023 and ends on 30 July 2026. 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.

 

 

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      Yellow Jersey PR Limited                                           Canaccord Genuity Limited

 Nominated Adviser                   Charles Goodwin                                                    Financial Adviser:

 Jeff Keating                        Bessie Elliot                                                      Raj Khatri (UK) /

                                   atlantic@yellowjerseypr.com (mailto:atlantic@yellowjerseypr.com)

 Charlie Bouverat
                                                                  Duncan St John, Christian Calabrese (Australia)

                                   Tel: +44 (0)20 3004 9512

 Tel: +44 (0)20 3470 0470

                                                                                                        Corporate Broking:

                                                                                                        James Asensio

                                                                                                        Tel: +44 (0) 20 7523 4500

 
Notes to Editors:

 

About Atlantic Lithium

www.atlanticlithium.com.au (http://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 509km(2) and
774km(2) 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.

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