Atlantic Lithium Limited Announces Corporate Update - Director/PDMR Shareholding

Rhea-AI Summary

Atlantic Lithium Limited (AIM:ALL)(ASX:A11)(OTCQX:ALLIF) has announced that certain Directors and persons discharging managerial responsibilities purchased a total of 790,137 ordinary shares at an average price of 26.66p per share, worth £210,676. Interim CEO Len Kolff acquired 23,508 shares, raising his total holdings to 3,030,852 shares (0.50% of issued share capital). Finance Director Amanda Harsas purchased 766,629 shares, increasing her total to 1,500,000 shares (0.25%). The transactions took place on March 20 and 21, 2023, on the ASX and are seen as a positive signal of confidence in the company's future prospects.

Positive

• Directors' purchase of 790,137 shares indicates confidence in the company's future.
• CEO Len Kolff and Finance Director Amanda Harsas significantly increased their shareholdings.

Negative

• None.

SYDNEY, AUSTRALIA / ACCESSWIRE / March 24, 2023 / The Board of Atlantic Lithium Limited (AIM:ALL)(ASX:A11)(OTCQX:ALLIF) ("Atlantic Lithium" or the "Company"), the funded African-focussed lithium exploration and development company targeting to deliver Ghana's first lithium mine, wishes to advise that certain Directors and persons discharging managerial responsibilities ("PDMRs") of the Company have purchased in the market a total of 790,137 ordinary shares of no par value each ("Ordinary Shares") at an average price of 26.66p per Ordinary Share, equating to aggregate value of £210,676, as follows:

Director / PDMR Role	Number of Ordinary Shares purchased	Resultant number of Ordinary Shares beneficially held	Resultant percentage of issued share capital beneficially held
Mr Len Kolff Interim CEO	23,508	3,030,852	0.50%
Ms Amanda Harsas Finance Director & Company Secretary	766,629	1,500,000	0.25%

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Melisa Kolff van Oosterwijk
2.	Reason for the notification
a)	Position/status:	PCA of Lennard Kolff van Oosterwijk - Interim CEO / Director
b)	Initial notification/Amendment:	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Atlantic Lithium Limited
b)	LEI:	213800H1JY3J7BB6BN06
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.
a)	Description of the financial instrument, type of instrument: Identification code:	Ordinary Shares of no par in the Company ISIN: AU0000237554
b)	Nature of the transaction:	Purchase of Ordinary Shares
c)	Price(s) and volume(s):	Price(s) Volume(s) AUD0.4850 23,508
d)	Aggregated information:	N/A
e)	Date of the transaction:	20 March 2023
f)	Place of the transaction:	ASX (A11)

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Amanda Harsas
2.	Reason for the notification
a)	Position/status:	Finance Director & Company Secretary
b)	Initial notification/Amendment:	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Atlantic Lithium Limited
b)	LEI:	213800H1JY3J7BB6BN06
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.
a)	Description of the financial instrument, type of instrument: Identification code:	Ordinary Shares of no par in the Company ISIN: AU0000237554
b)	Nature of the transaction:	Purchase of Ordinary Shares
c)	Price(s) and volume(s):	Price(s) Volume(s) AUD0.4866 AUD0.4894 571,557 195,072
d)	Aggregated information:	Purchase of 766,629 Ordinary Shares at an average price of GBP0.2666 (AUD0.4873) per Ordinary Share
e)	Date of the transaction:	20 & 21 March 2023
f)	Place of the transaction:	ASX (A11)

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

For any further information, please contact:

Atlantic Lithium Limited Neil Herbert (Executive Chairman) Amanda Harsas (Finance Director and Company Secretary) www.atlanticlithium.com.au IR@atlanticlithium.com.au	Tel: +61 2 8072 0640
SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat	Tel: +44 (0)20 3470 0470
Canaccord Genuity Limited Joint Company Broker Raj Khatri James Asensio Harry Rees	Tel: +44 (0) 20 7523 4500
Liberum Capital Limited Joint Company Broker Scott Mathieson Edward Thomas Kane Collings	Tel: +44 (0) 20 3100 2000
Yellow Jersey PR Limited Charles Goodwin Bessie Elliot atlantic@yellowjerseypr.com	Tel: +44 (0)20 3004 9512

Notes to Editors:

About Atlantic Lithium
www.atlanticlithium.com.au

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 Company signed a funding agreement with Piedmont Lithium Inc. for US$103m towards the development of the Ewoyaa Project. Based on the Pre-Feasibility Study, the Ewoyaa Project has indicated Life of Mine revenues exceeding US$4.84bn, producing a spodumene concentrate via simple gravity only process flowsheet.

Atlantic Lithium holds 560km² & 774km² of tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licences.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Atlantic Lithium Limited

View source version on accesswire.com:
https://www.accesswire.com/745603/Atlantic-Lithium-Limited-Announces-Corporate-Update--DirectorPDMR-Shareholding

FAQ

What was the recent share purchase by Atlantic Lithium's directors?

Atlantic Lithium's directors purchased a total of 790,137 ordinary shares at an average price of 26.66p each.

How many shares did Atlantic Lithium's Interim CEO purchase?

Interim CEO Len Kolff purchased 23,508 shares, increasing his total to 3,030,852 shares.

What percentage of share capital does Atlantic Lithium's Finance Director hold?

Finance Director Amanda Harsas holds 1,500,000 shares, which is 0.25% of the issued share capital.

When did the recent share transactions occur for Atlantic Lithium?

The recent share transactions occurred on March 20 and 21, 2023.

What value did the recent share purchases by Atlantic Lithium's directors amount to?

The total value of the recent share purchases was £210,676.