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8 April 2024
Director/PDMR Dealings
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 that Executive Chairman Neil Herbert, as a Director and person discharging managerial responsibilities ("PDMR") of the Company, has purchased in the market a total of 133,000 ordinary shares of no par value each ("Ordinary Shares"), at an average price of £0.18625 (A$0.36), equating to an aggregate value of £24,771 (A$47,590), as follows:
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Director / PDMR Role |
Number of Ordinary Shares purchased |
Resultant number of Ordinary Shares beneficially held |
Resultant percentage of issued share capital beneficially held |
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Mr Neil Herbert Executive Chairman |
133,000 |
8,106,305 |
1.25% |
Following the share purchase, Directors and persons discharging managerial responsibilities ("PDMR") of the Company have purchased a total of 10,152,227 shares equating to a value of A$5,192,393 (£2,794,015) in the last 13 months.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
PURCHASE OF ORDINARY SHARES
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1. |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name: |
Neil Herbert |
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2. |
Reason for the notification |
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a) |
Position/status: |
Executive Chairman |
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b) |
Initial notification/Amendment: |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name: |
Atlantic Lithium Limited |
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b) |
LEI: |
213800H1JY3J7BB6BN06 |
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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. |
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a) |
Description of the financial instrument, type of instrument: Identification code: |
Ordinary Shares of no par in the Company ISIN: AU0000237554 |
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b) |
Nature of the transaction: |
Purchase of Ordinary Shares
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c) |
Price(s) and volume(s):
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d) |
Aggregated information:
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Purchase of 133,000 Ordinary Shares at an average price of £0.18625 (AUD0.36) per Ordinary Share
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e) |
Date of the transaction: |
5 April 2024 |
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f) |
Place of the transaction: |
AIM (ALL) |
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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.
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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About Atlantic Lithium
Atlantic Lithium is an AIM and ASX-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 509km2 and 774km2 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.
