Atlantic Lithium has granted 1,402,492 unlisted performance rights to key senior employees directly involved in advancing the Ewoyaa Lithium Project.
These rights, tied to new ordinary shares and awarded at no cost, are contingent on strict performance criteria set by the Board.
To fully benefit, employees must meet these performance benchmarks and remain with the company until the end of the measurement period on July 30, 2026.
The evaluation period began on July 31, 2023, and will continue until July 30, 2026.
As per Atlantic Lithium, these performance rights are issued under the company’s ASX listing rule 7.1 capacity, thus not requiring shareholder approval.
The rights aim to align employee incentives with Atlantic Lithium’s long-term growth strategy.
The Remuneration & Nomination Committee underscores their importance in attracting, retaining, and motivating top talent, which is vital for the company’s ambitious expansion plans.
Find the attached statement below:
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.
Source: Adomonline
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