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Atlantic Lithium Limited announced the lapse of 2,000,000 options held by Chief Executive Officer Keith Muller, which had an exercise price of £0.50 and expired on 16 May 2025. Following this event, Mr. Muller's holdings include 765,217 Ordinary Shares. He also holds 653,160 Performance Rights vesting on 31 July 2025, 816,450 vesting on 31 July 2026, and 1,086,128 vesting on 31 July 2027.
| Date | 19 May 2025 |
| Time | 07:00:09 |
| Category | Director/PDMR dealings |
| ID | 1826J |
19 May 2025
Lapse of PDMR Options
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, provides notice of changes to directors' interests in accordance with listing rule 3.19A.2, and as agent for the following director for the purposes of section 205G of the Corporations Act 2001 (Cth):
- Keith Muller:
o Lapse of 2,000,000 Options over new ordinary shares of no par value each with an exercise price £0.50 which expired on 16 May 2025
Following the lapse of the above options, the number of securities held by Executive Directors of the Company is as follows:
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Executive Director |
No. of Securities Held |
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Neil Herbert, Executive Chairman |
8,671,522 Ordinary Shares 372,416 Performance Rights1 - vested 1,117,247 Performance Rights2 - vesting date 31 July 2025 1,263,349 Performance Rights2 - vesting date 31 July 2026 1,680,640 Performance Rights2 - vesting date 31 July 2027 |
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Keith Muller, Chief Executive Officer |
765,217 Ordinary Shares 653,160 Performance Rights2 - vesting date 31 July 2025 816,450 Performance Rights2 - vesting date 31 July 2026 1,086,128 Performance Rights2 - vesting date 31 July 2027 |
|
Amanda Harsas, Finance Director & Company Secretary |
4,500,000 Ordinary Shares 229,179 Performance Rights1 - vested 687,537 Performance Rights2 - vesting date 31 July 2025 756,290 Performance Rights2 - vesting date 31 July 2026 1,006,098 Performance Rights2 - vesting date 31 July 2027 |
1. The vested Performance Rights can be converted to fully paid ordinary shares in the Company (Shares) upon the exercise of the vested Performance Rights by the holders at any time. Notice of vesting has been provided to the Performance Rights holders. The Company will notify the market of the issue of Shares upon exercise of vested Performance Rights.
2. The Performance Rights not yet vested are subject to performance and vesting conditions as set by the Board and approved by Shareholders.
Authorised for release by Amanda Harsas, Finance Director and Company Secretary, Atlantic Lithium Limited.
Neil Herbert (Executive Chairman)
Amanda Harsas (Finance Director and Company Secretary)
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www.atlanticlithium.com.au |
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IR@atlanticlithium.com.au |
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Tel: +61 2 8072 0640 |
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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 Tel: +44 (0)20 3004 9512
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Canaccord Genuity Limited Financial Adviser: Raj Khatri (UK) / Duncan St John, Christian Calabrese (Australia)
Corporate Broking: James Asensio Tel: +44 (0) 20 7523 4500 |
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Notes to Editors:
About Atlantic Lithium
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 Project was awarded a Mining Lease in October 2023, an Environmental Protection Authority ("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.
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.
