Trump-Zelensky meeting ahead, Fed rate outlook in focus - what’s moving markets
LONDON - CleanTech Lithium PLC (AIM:CTL), an exploration and development company advancing lithium projects in Chile, has granted 5,006,153 share options to its senior management team, according to a company statement released Thursday.
CEO Ignacio Mehech received 4 million option shares with an exercise price of £0.06 as part of his remuneration package. These options will vest in tranches of 800,000 shares upon achievement of specific performance conditions, including completion of the Definitive Feasibility Study, receipt of environmental permits for the Laguna Verde project, securing project financing, achieving commercial production, and when the company’s share price reaches £0.70 for 20 consecutive days.
Additionally, CFO and former director Gordon Stein was granted 1,006,153 minimal cost option shares with an exercise price of £0.02, representing the company’s nominal share price. These options were issued to settle outstanding fees and pension contributions totaling £105,987.07, using an effective conversion price of £0.1054 based on the monthly volume-weighted average price from October 2024 to July 2025.
Stein’s options can be exercised anytime within five years from the grant date and are structured to provide value equivalent to the outstanding amounts in a tax-efficient manner.
CleanTech Lithium is developing two key lithium projects in Chile - Laguna Verde and Viento Andino - along with an exploration-stage project in Arenas Blancas. The company employs Direct Lithium Extraction technology with brine reinjection, which it states results in no aquifer depletion.
The information was released in accordance with the UK Market Abuse Regulations and was arranged by Steve Kesler, Director and Non-Executive Chairman of the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.