Business
Grant of Options, Exercise of Options and TVR
Grant of Options, Exercise of Options and TVR.
About this update from Cleantech Lithium Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n 31 March 2023\n \n \n \n \n \n \n \n \n CleanTech Lithium Plc\n \n \n \n \n (\"CleanTech Lithium\", \"CTL\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n Grant of Options and Director / PDMR Shareholdings\n \n \n \n \n Exercise of Share Options and Total Voting Rights\n \n \n \n \n \n \n CleanTech Lithium (AIM: CTL, Frankfurt:T2N, OTC:CTLHF), an exploration and development company, advancing the next generation of sustainable lithium projects in Chile, announces that the Board has granted a total of 2,020,000 share options to directors, management, staff members and contractors in Chile, Spain and Switzerland.\n \n \n \n \n \n In addition, the Company has received a notice from a former employee for the exercise of options, expiring on 29 April 2023, to subscribe for 1,100,000 ordinary shares of £0.01 each in CTL (the \"New Ordinary Shares\") at an exercise price of £0.36 per New Ordinary Share. \n \n \n \n \n \n \n Granting of Share Options:\n \n \n \n The granting of these share options, the majority of which include certain performance measures for the vesting of those options as summarised below, is in accordance with the Company's remuneration strategy and also provides incentivisation to the Company's management and staff members, as well as to certain contractors who have delivered excellent service for the Company. Details are as follows:\n \n \n \n \n \n ·\n A total of 1,110,000 options have been awarded to management and staff members and are subject to performance measures which are linked to the successful achievement of JORC resource upgrades, a successful PFS at Laguna Verde and the success of the pilot plant producing battery grade lithium carbonate or lithium hydroxide (the \"Vesting Criteria\").\n \n \n ·\n 306,000 options have been awarded to the Executive Chairman Steve Kesler and are a contractual award in accordance with the terms of his employment and subject to the Vesting Criteria.\n \n \n ·\n 204,000 of the options have been awarded to the new Non-Executive Director Maha Daoudi and are a contractual award in accordance with the terms of her employment. These options are non-performance related and will time vest over a two-year period from the date the share options are awarded to Ms Daoudi, and\n \n \n ·\n 400,000 o...