Business
Issue of Equity, TVR and Blocklisting Application
CleanTech Lithium PLC is issuing 1,252,726 new ordinary shares at £0.116366 per share to settle £145,775 in deferred fees owed to former directors, preserving capital and aligning them with the company's future. Following this issuance, the company's total voting rights will be 204,189,492 ordinary shares. Additionally, an application has been made for a block listing of 15,899,873 shares to accommodate the exercise of 11p warrants expiring in February 2029. Disclaimer*
About this update from Cleantech Lithium Plc
[{"type":"text","content":"\n\n17 March 2026\nCleanTech Lithium PLC\n(\"CleanTech Lithium\", \"CTL\" or the \"Company\")\nIssue of Equity to Settle Deferred Fees, Total Voting Rights and Block Listing Application\n \nCleanTech Lithium PLC (AIM: CTL, Frankfurt:T2N), an exploration and development company advancing sustainable lithium projects in Chile, announces that an application (the \"Application\") has been made to the London Stock Exchange (\"LSE\") to issue equity to former directors to settle historically deferred fees. This is alongside a block listing application to allow 11p warrants, previously approved by shareholders, to be issued when notices to exercise are received and processed.\nIssue of Equity to Settle Deferred Fees\nThe Application has been made for the issue and allotment of a total of 1,252,726 new ordinary shares of £0.02 each (the \"New Ordinary Shares\") to former directors who stepped down from CTL's Board on 11 August 2025:\n- Maha Daoudi - 400,030 New Ordinary Shares;\n- Tommy McKeith - 400,030 New Ordinary Shares, and\n- Jonathan Morley-Kirk - 452,666 New Ordinary Shares.\nAt the time of their departure, the former directors were owed a total of £145,775 in deferred salaries accrued between August 2024 and the date of their resignation. Although entitled to have these fees settled in cash, the former directors have agreed to receive the New Ordinary Shares at a price of £0.116366 per share. The issue price was calculated by the Company based on the average of the monthly VWAPs for the periods when the fees were deferred. The Board notes that settling these historical liabilities in equity rather than cash supports the Company's ongoing capital preservation objectives, while the former directors' election to receive shares at this price point reflects their continued alignment with the Company's future potential.\nThe admission of the New Ordinary Shares is expected to occur on or around 23 March 2026 (the \"Admission\"). The New Ordinary Shares, when issued, will rank pari passu with the existing ordinary shares in the Company.\nTotal Voting Rights\nFollowing Admission, the Company's issued share capital will consist of 204,189,492 Ordinary Shares, each with voting rights. This figure may be used by shareholders in the Company as th...