Business
Options Award, Issue of Equity & TVR
Options Award, Issue of Equity & TVR.
About this update from Cleantech Lithium Plc
[{"type":"text","content":"\n \n \n \n 10 November 2022\n \n \n \n \n \n \n \n \n \n CleanTech Lithium PLC (\"CleanTech Lithium\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n Award of Share Options, Director / PDMR Shareholding, Issue of Equity and TVR\n \n \n \n \n \n \n CleanTech Lithium PLC (AIM: CTL,\n Frankfurt: T2N), an exploration and development company,\n advancing the next generation of sustainable lithium projects in Chile, further to the RNS announcements of 17 and 20 October 2022, announces the award of share options to the Company's Non-Executive Directors and the issue of 200,000 ordinary shares of £0.01 each (\"Ordinary Shares\") to Beyond Lithium LLC (\"Beyond Lithium\") (\"Beyond Shares\"). \n \n \n \n Award of Share Options\n \n \n \n On 20 October 2022 the Company announced that it intends to make a one-off award of non-performance related share options to its Non-Executive Chairman, Steve Kesler, and to its other independent Non-Executive Director, Jonathan Morley-Kirk (together the \"Non-Executive Directors\") in recognition of the significant workload of both Non-Executive Directors in carrying out their duties as independent directors since the IPO in March 2022.\n \n \n The Company now confirms that on 9 November 2022 it has awarded a total of 459,000 options over Ordinary Shares (the \"Options\"): 255,000 to Steve Kesler and 204,000 to Jonathan Morley-Kirk. The Options will vest annually over a three-year period on a time (but not performance) basis with effect from the date of the IPO (17 March 2022) and vested options may be exercised over a five-year period at a price of 57p per Ordinary Share.\n \n \n The Company is satisfied that the award of these Options will not impair the independence of the Non-Executive Directors. The Company will, however, seek to appoint an additional independent non-executive director that will bring diverse experience and new skills and experience to a well-functioning Board at an appropriate time over the coming year. \n \n \n Following the award of Options, there are currently 7,408,000 share options outstanding representing 9.35% of the Company's issued share capital as enlarged by the allotment of Beyond Shares.\n \n \n The information contained in Appendix 1 below is disclosed in accordance with Article 19 of the Market Abuse Regulation.\n \n \n \n Issue of Equ...