We are pleased to announce that Atlantic Lithium has allocated 1,402,492 unlisted performance rights to key senior employees directly involved in advancing the Ewoyaa Lithium Project. These performance rights are linked to new ordinary shares and are granted at no cost, contingent upon stringent performance benchmarks established by the Board.
In order to fully benefit from these rights, employees must remain with the company through the conclusion of the measurement period on July 30, 2026. The performance evaluation period commenced on July 31, 2023, and will run until July 30, 2026.
According to a statement by Atlantic Lithium, these performance rights fall under the company’s ASX listing rule 7.1 capacity, bypassing the need for shareholder approval. The purpose of these rights is to align employee incentives with Atlantic Lithium’s long-term growth strategy.
The Remuneration & Nomination Committee emphasizes that these rights are crucial for attracting, retaining, and motivating top talent, which is essential to the company’s aggressive expansion plans.
Atlantic Lithium, listed on AIM, ASX, GSE, and OTCQX, is advancing the Ewoyaa Lithium Project, a major lithium spodumene pegmatite discovery in Ghana, toward production, positioning it to become the country’s first lithium-producing mine. The Definitive Feasibility Study for the Project forecasts the production of 3.6 million tonnes of spodumene concentrate over a 12-year mine life, placing it among the world’s largest spodumene concentrate mines.
The Project, which secured a Mining Lease in October 2023, is being developed under an earn-in agreement with Piedmont Lithium Inc. Atlantic Lithium’s portfolio also includes lithium projects spanning 509 km² in Ghana and 774 km² of granted and under-application tenure across Côte d’Ivoire.
This strategic allocation of performance rights underscores Atlantic Lithium's commitment to recognizing and rewarding key talent while driving the Ewoyaa Lithium Project towards its production goals. We are confident that this initiative will further motivate our employees to contribute to the long-term success and growth of the company.
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