23 January 2024
TR-1 Notification of Major Holdings
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 the Company has received the following two TR-1 notifications from major shareholders Assore International Holdings Limited ("Assore") and Piedmont Lithium Inc. ("Piedmont").
The voting rights of Assore and Piedmont now sit at 28.4% and 5.2%, respectively, of the total issued capital of the Company.
Commenting, Neil Herbert, Executive Chairman of Atlantic Lithium, said:
"As the Company's largest shareholder, we believe that Assore's purchase of Atlantic Lithium shares at a premium to the current price, increasing their holding to 28.4%, reflects their belief in the substantial value potential that, together with Piedmont, we intend to unlock at the Ewoyaa Lithium Project."
TR-1: Standard form for notification of major holdings
| NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i | ||||||
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| 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii: | Atlantic Lithium Limited | |||||
| 1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate) | ||||||
| Non-UK issuer | X | |||||
| 2. Reason for the notification (please mark the appropriate box or boxes with an "X") | ||||||
| An acquisition or disposal of voting rights | X | |||||
| An acquisition or disposal of financial instruments | | |||||
| An event changing the breakdown of voting rights | | |||||
| Other (please specify) iii: | | |||||
| 3. Details of person subject to the notification obligation iv | ||||||
| Name | Assore International Holdings Limited | |||||
| City and country of registered office (if applicable) | Winchester, United Kingdom | |||||
| 4. Full name of shareholder(s) (if different from 3.) v | ||||||
| Name | | |||||
| City and country of registered office (if applicable) | | |||||
| 5. Date on which the threshold was crossed or reached vi: | 19 / 01 / 2024 | |||||
| 6. Date on which issuer notified (DD/MM/YYYY): | 19 / 01 / 2024 | |||||
| 7. Total positions of person(s) subject to the notification obligation | ||||||
| | % of voting rights attached to shares (total of 8. A) | % of voting rights through financial instruments | Total of both in % (8.A + 8.B) | Total number of voting rights held in issuer (8.A + 8.B) vii | ||
| Resulting situation on the date on which threshold was crossed or reached | 28.40 | | 28.40 | 179,025,852 | ||
| Position of previous notification (if applicable) | 25.06 | | 25.06 | | ||
| 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii | |||||||||||||
| A: Voting rights attached to shares | |||||||||||||
| Class/type of ISIN code (if possible) | Number of voting rights ix | % of voting rights | |||||||||||
| Direct (DTR5.1) | Indirect (DTR5.2.1) | Direct (DTR5.1) | Indirect (DTR5.2.1) | ||||||||||
| AU0000237554 | 179,025,852 | | 28.40 | | |||||||||
| | | | | | |||||||||
| | | | | | |||||||||
| SUBTOTAL 8. A | 179,025,852 | 28.40 | |||||||||||
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| B 1: Financial Instruments according to DTR5.3.1R (1) (a) | |||||||||||||
| Type of financial instrument | Expiration | Exercise/ | Number of voting rights that may be acquired if the instrument is exercised/converted. | % of voting rights | |||||||||
| | | | | | |||||||||
| | | | | | |||||||||
| | | | | | |||||||||
| | | SUBTOTAL 8. B 1 | | | |||||||||
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| B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b) | |||||||||||||
| Type of financial instrument | Expiration | Exercise/ | Physical or cash Settlement xii | Number of voting rights | % of voting rights | ||||||||
| | | | | | | ||||||||
| | | | | | | ||||||||
| | | | | | | ||||||||
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| SUBTOTAL 8.B.2 | | | ||||||||
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| 9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X") | |||||||||||||
| Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii | X | ||||||||||||
| Full chain of controlled undertakings through which the voting rights and/or the | | ||||||||||||
| Name xv | % of voting rights if it equals or is higher than the notifiable threshold | % of voting rights through financial instruments if it equals or is higher than the notifiable threshold | Total of both if it equals or is higher than the notifiable threshold | ||||||||||
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| 10. In case of proxy voting, please identify: | |||||||||||||
| Name of the proxy holder | | ||||||||||||
| The number and % of voting rights held | | ||||||||||||
| The date until which the voting rights will be held | | ||||||||||||
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| 11. Additional information xvi | |||||||||||||
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| Place of completion | Johannesburg, South Africa |
| Date of completion | 19 January 2024 |
TR-1: Standard form for notification of major holdings
| NOTIFICATION OF MAJOR HOLDINGS | ||||||
| | ||||||
| 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii: | Atlantic Lithium Limited ISIN: AU0000237554 | |||||
| 1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate) | ||||||
| Non-UK issuer | X | |||||
| 2. Reason for the notification (please mark the appropriate box or boxes with an "X") | ||||||
| An acquisition or disposal of voting rights | X | |||||
| An acquisition or disposal of financial instruments | | |||||
| An event changing the breakdown of voting rights | | |||||
| Other (please specify) iii: | | |||||
| 3. Details of person subject to the notification obligation iv | ||||||
| Name | Piedmont Lithium Ghana Holdings, LLC (formerly Piedmont Lithium Ghana Holdings, Inc.) | |||||
| City and country of registered office (if applicable) | | |||||
| 4. Full name of shareholder(s) (if different from 3.) v | ||||||
| Name | | |||||
| City and country of registered office (if applicable) | | |||||
| 5. Date on which the threshold was crossed or reached vi: | 19 January 2024 | |||||
| 6. Date on which issuer notified (DD/MM/YYYY): | 19 January 2024 | |||||
| 7. Total positions of person(s) subject to the notification obligation | ||||||
| | % of voting rights attached to shares (total of 8. A) | % of voting rights through financial instruments | Total of both in % (8.A + 8.B) | Total number of voting rights held in issuer (8.A + 8.B) vii | ||
| Resulting situation on the date on which threshold was crossed or reached | 5.2% | 0% | 5.2 | 32,705,064 | ||
| Position of previous notification (if applicable) | | | | | ||
| 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii | |||||||||
| A: Voting rights attached to shares | |||||||||
| Class/type of ISIN code (if possible) | Number of voting rights ix | % of voting rights | |||||||
| Direct (DTR5.1) | Indirect (DTR5.2.1) | Direct (DTR5.1) | Indirect (DTR5.2.1) | ||||||
| AU0000237554 | 32,705,064 | 0 | 5.2% | 0 | |||||
| SUBTOTAL 8. A | 32,705,064 | 5.2% | |||||||
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| |||||||||
| B 1: Financial Instruments according to DTR5.3.1R (1) (a) | |||||||||
| Type of financial instrument | Expiration | Exercise/ | Number of voting rights that may be acquired if the instrument is exercised/converted. | % of voting rights | |||||
| | | | | | |||||
| | | SUBTOTAL 8. B 1 | | | |||||
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| |||||||||
| B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b) | |||||||||
| Type of financial instrument | Expiration | Exercise/ | Physical or cash Settlement xii | Number of voting rights | % of voting rights | ||||
| | | | | | | ||||
| | |
| SUBTOTAL 8.B.2 | | | ||||
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| 9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X") | ||||
| Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii | | |||
| Full chain of controlled undertakings through which the voting rights and/or the | X | |||
| Name xv | % of voting rights if it equals or is higher than the notifiable threshold | % of voting rights through financial instruments if it equals or is higher than the notifiable threshold | Total of both if it equals or is higher than the notifiable threshold | |
| Piedmont Lithium Inc. | 5.2% | | 5.2% | |
| Piedmont Lithium Ghana Holdings, LLC | 5.2% | | 5.2% | |
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| 10. In case of proxy voting, please identify: | ||||
| Name of the proxy holder | | |||
| The number and % of voting rights held | | |||
| The date until which the voting rights will be held | | |||
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| 11. Additional information xvi | ||||
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| Place of completion | U.S.A. |
| Date of completion | 19 January 2024 |
For any further information, please contact:
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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Notes to Editors:
About Atlantic Lithium
Atlantic Lithium is an AIM and ASX-listed lithium company advancing a portfolio of lithium projects in Ghana and Côte d'Ivoire through to production.
The Company's flagship project, the Ewoyaa Project in Ghana, is a significant lithium spodumene pegmatite discovery on track to become Ghana'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 top 10 largest spodumene concentrate mines in the world.
The Project, which was awarded a Mining Lease in October 2023, is being developed under a funding agreement with Piedmont Lithium Inc.
Atlantic Lithium holds 509km2 and 774km2 of tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licences.
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