Atlantic Lithium Limited Announces Director/PDMR Shareholding

Rhea-AI Summary

Atlantic Lithium Limited (AIM:ALL)(OTCQX:ALLIF) announced that its Directors and individuals with managerial responsibilities have acquired a total of 2,454,677 ordinary shares at an average price of 27.34p, totaling £671,231. The purchases were made by Executive Chairman Neil Herbert, who acquired 1,883,177 shares, and Finance Director Amanda Harsas, who acquired 571,500 shares. Following these transactions, Herbert now holds 7,348,892 shares (1.21% of issued capital) and Harsas holds 733,371 shares (0.12%). This activity reinforces confidence in the company as it progresses towards developing Ghana's first lithium mine.

Positive

• Directors' share purchases signify strong confidence in the company's future.
• Total of 2,454,677 shares purchased at an average price of 27.34p, reflecting commitment by management.
• Company is advancing towards Ghana's first lithium mine, bolstering investor sentiment.

Negative

• None.

SYDNEY, AUSTRALIA / ACCESSWIRE / March 20, 2023 / The Board of Atlantic Lithium Limited (AIM:ALL)(OTCQX:ALLIF)(ASX:A11) "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 2,454,677 ordinary shares of no par value each ("Ordinary Shares") at an average price of 27.34p per Ordinary Share, equating to aggregate value of £671,231, 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 Neil Herbert Executive Chairman	1,883,177	7,348,892	1.21%
Ms Amanda Harsas Finance Director & Company Secretary	571,500	733,371	0.12%

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
TABLE 1 - ISSUE OF ORDINARY SHARES

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Neil Herbert
2.	Reason for the notification
a)	Position/status:	Executive Chairman
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) AUD0.455 GBP0.2758 80,492 1,802,685
d)	Aggregated information:	Purchase of 1,883,177 Ordinary Shares at an average price of GBP0.2748 (AUD0.4952) per Ordinary Share
e)	Date of the transaction:	16 March 2023
f)	Place of the transaction:	AIM Market (ALL), ASX (A11)

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
TABLE 1 - ISSUE OF ORDINARY SHARES

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) AUD0.4731 GBP0.2675 AUD0.4885 GBP0.2700 43,000 200,000 228,500 100,000
d)	Aggregated information:	Purchase of 571,500 Ordinary Shares at an average price of GBP0.2690 (AUD0.4847) per Ordinary Share
e)	Date of the transaction:	16 & 17 March 2023
f)	Place of the transaction:	AIM Market (ALL), 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/744617/Atlantic-Lithium-Limited-Announces-DirectorPDMR-Shareholding

FAQ

What recent transactions did Atlantic Lithium (ALLIF) directors undertake?

Directors and persons discharging managerial responsibilities of Atlantic Lithium purchased a total of 2,454,677 shares at an average price of 27.34p.

How many shares did Neil Herbert buy from Atlantic Lithium (ALLIF)?

Neil Herbert, the Executive Chairman, purchased 1,883,177 shares in Atlantic Lithium.

What is the total value of shares acquired by Atlantic Lithium's directors?

The total value of shares acquired by the directors amounts to £671,231.

What percentage of shares does Neil Herbert hold after recent purchases in Atlantic Lithium (ALLIF)?

After the purchases, Neil Herbert holds 7,348,892 shares, which is 1.21% of the issued share capital.

What is the significance of Atlantic Lithium's share purchases by its directors?

The share purchases by directors signal strong confidence in the company's prospects and commitment to its future developments.