30 November 2023
Result of Annual General Meeting
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, advises that all resolutions put to shareholders at the Company's Annual General Meeting ("AGM"), held earlier today in Perth, Australia, were passed by way of a poll.
In accordance with Listing Rule 3.13.2 and section 251AA(2) of the Corporations Act 2001 (Cth), details of the results and the proxies received in respect of each resolution are set out in the attached summary, which can be found via the following link:
As more than 25% of the votes cast on Resolution 1 were against the adoption of the Remuneration Report, this constitutes a 'first strike' for the purposes of the Corporations Act 2001 (Cth) and ASX Listing Rule 3.13.2(f).
The Board will seek to further engage with shareholders to understand their rationale for voting against Resolution 1, which will be taken into account as part of the Board's consideration of the Company's future remuneration policy and practices.
Resolution 15: Approval to issue an additional 10% of the issued capital of the Company over a 12-month period, was withdrawn on 30 November 2023, prior to the commencement of the AGM. At the date of the AGM, the Company's market capitalisation exceeded A$300 million, meaning the Company was therefore ineligible to seek approval under ASX Listing Rule 7.1A.
Announcement authorised for release by Amanda Harsas, Company Secretary.
For any further information, please contact:
Atlantic Lithium Limited
Neil Herbert (Executive Chairman)
Amanda Harsas (Finance Director and Company Secretary)
Tel: +61 2 8072 0640
SP Angel Corporate Finance LLP
Tel: +44 (0)20 3470 0470
Yellow Jersey PR Limited
Tel: +44 (0)20 3004 9512
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.