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PERTH - Atlantic Lithium Limited (AIM:ALL, ASX: A11, GSE: ALLGH, OTCQX: ALLIF), the company focused on developing Ghana’s first lithium mine, announced a lapse in share options for one of its directors. Keith Muller, the Chief Executive Officer, saw 2 million options expire on May 16, 2025, without being exercised. These options were set at an exercise price of £0.50 for new ordinary shares.
Following this lapse, the company disclosed the updated holdings of its executive directors. Neil Herbert, the Executive Chairman, holds over 8.67 million ordinary shares and has various tranches of performance rights with vesting dates ranging from July 31, 2025, to July 31, 2027. CEO Keith Muller holds 765,217 ordinary shares alongside performance rights also set to vest between 2025 and 2027.
Amanda Harsas, the Finance Director and Company Secretary, possesses 4.5 million ordinary shares and additional performance rights that are vested and due to vest in the coming years. The vested performance rights can be converted to fully paid ordinary shares anytime the holders exercise them. The company has stated it will notify the market upon the issuance of shares resulting from the exercise of these rights.
The unvested performance rights are subject to conditions set by the Board and approved by shareholders, including performance and vesting criteria. Atlantic Lithium has emphasized its commitment to transparency by providing this information in accordance with listing rule 3.19A.2 and section 205G of the Corporations Act 2001 (Cth).
The notice was authorized for release by Amanda Harsas, indicating the company’s adherence to regulatory requirements regarding disclosures of directors’ interests. This announcement is based on a press release statement from Atlantic Lithium Limited.
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