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LONDON - Aterian Plc (LSE: ATN), a London Stock Exchange-listed company specializing in the exploration and development of critical metals, has announced an increase in the allocation of shares to its Employee Benefit Trust (EBT). The company disclosed that it has raised the number of shares allocated to the EBT from 361,000 to 565,000. This move is part of Aterian's strategy to align the interests of its senior executives and directors with those of its shareholders through long-term equity incentives.
The additional shares for the EBT will be used within the company's incentive and compensation framework, aiming to retain key personnel as Aterian continues to advance its critical metals projects. The newly issued shares will rank equally with the existing Ordinary Shares of the company.
Aterian expects to admit the 204,000 new Ordinary Shares to trading on the London Stock Exchange (LON:LSEG) around February 20, 2025. Following this issue, the company's total issued share capital will stand at 12,802,044 Ordinary Shares. This figure will represent the total voting rights in the company and will serve as a reference point for shareholders to determine their notification obligations under the Financial Conduct Authority's Disclosure Guidance & Transparency Rules.
Simon Rollason, CEO of Aterian, emphasized the importance of management incentives in shareholder value, stating, "This increase in the EBT allocation underscores our confidence in the Company's future and supports the retention of key personnel as we advance our trading of and exploration for critical metals."
Aterian Plc is actively involved in acquiring and developing new critical metal resources, focusing on sustainable and ethical supply chains vital for the renewable energy, automotive, and electronics manufacturing sectors. The company's portfolio includes a diverse range of projects in Africa, such as a joint venture with Rio Tinto (NYSE:RIO) Mining and Exploration Limited in Rwanda for the exploration and development of a lithium-tantalum-niobium-tin mining operation, and multiple copper-silver (+ gold) and base metal projects in Morocco.
The information in this article is based on a press release statement from Aterian Plc.
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