14th December 2023
CleanTech Lithium PLC ("CleanTech Lithium" or "CTL" or the "Company")
Result of General Meeting ("GM"), PDMR Shareholdings
and
Total Voting Rights ("TVR")
CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF), a company advancing sustainable lithium projects in Chile for the clean energy transition, announces that at the General Meeting held earlier today all resolutions, as set out in a circular dated 23 November 2023 relating to the conditional Placing and the Open Offer to Qualifying Shareholders (the "Circular") were duly passed.
Open Offer
The Open Offer closed for acceptances at 11.00 a.m. on 13 December 2023. Although the Open Offer was oversubscribed by 12.5% at approximately £586,000, the Company was required to scale back valid applications to its maximum allotment allowance of 2,365,188 Open Offer Shares. As such, the Open Offer raised gross proceeds of approximately £520,000.
All valid applications for basic entitlements under the Open Offer have been met in full; excess applications have been scaled back to ensure the maximum allotment allowance of Open Offer Shares was not exceeded.
Consistent with the terms of the Placing, Open Offer Shares have a warrant attached in the ratio of one Warrant for every two Open Offer Shares allotted. Where an odd number of Open Offer Shares were allotted to an applicant, the warrant entitlement was rounded down. Accordingly, a total of 1,182,577 warrants have been granted in connection with the Open Offer.
Fundraising
The Company has raised total gross proceeds of approximately £8.5 million from the Open Offer and Fundraising, as described in the "Results of Fundraising" announcement published on 22 November 2023 and in the Circular.
Result of GM
Details of the results of the poll were as follows:
| Resolution | In Favour | Against | Withheld | |||
| | | Votes | % | Votes | % | Votes |
| 1 | Authority to allot shares | 36,945,107 | 99.67% | 121,769 | 0.33% | 948,980 |
| 2 | Disapplication of pre-emption rights | 36,920,388 | 99.61% | 145,743 | 0.39% | 949,725 |
Aldo Boitano, Chief Executive Officer of CleanTech Lithium Plc, commented: "Thank you to all our shareholders who participated in the recent Open Offer and to those who voted at our General Meeting. It is encouraging to see an active investor base and your continued support is much appreciated as we develop sustainable lithium projects in Chile. I am particularly pleased that our Open Offer was oversubscribed, a clear vote of confidence for the Company's plans in 2024.
We recently hosted a successful visit to Chile with the Board which involved planning sessions for our 2024 key milestones and a visit to the DLE Pilot Plant at our Copiapó facility. Shareholders can expect an update on this soon."
Admission
Application has been made to London Stock Exchange for a total of 24,604,360 Fundraising Shares comprising 22,239,172 Conditional Placing Shares and 2,365,188 Open Offer Shares to be admitted to trading on AIM on or around 8.00 a.m. on 15 December 2023.
PDMR Dealings
As set out in the announcement published on 22 November 2023 and in the Circular, certain Directors of the Company have agreed to subscribe for the Conditional Placing Shares. Accordingly, as from Admission, their interests in Ordinary Shares will be as follows:
| Director and position | Number of Ordinary Shares held prior to Fundraising | Number of Conditional Placing Shares subscribed for | Number of Warrants granted in connection with subscription for Conditional Placing Shares | Number of Ordinary Shares held following Fundraising | % of Enlarged Share Capital | Total Number of Open Offer Warrants held |
| Steve Kesler, Executive Chairman
| 350,000 | 368,182 | 184,091 | 718,182 | 0.49% | 184,091 |
| Gordon Stein, Chief Financial Officer
| 608,037 | 113,638 | 56,819 | 721,675 | 0.51% | 56,819 |
| Tommy McKeith, Non-Executive Director | - | 454,546 | 227,273 | 454,546 | 0.31% | 227,273 |
| Jonathan Morley-Kirk, Senior Non-Executive Director
| 340,000 | 113,638 | 56,819 | 453,638 | 0.31% | 56,819 |
| Maha Daoudi, Non-Executive Director | - | 279,092 | 139,546 | 279,092 | 0.19% | 139,546 |
The information contained in Appendix 1 below is disclosed in accordance with Article 19 of UK MAR.
TVR
Following Second Admission, the Company's issued share capital will comprise 145,162,326 Ordinary Shares with voting rights. This figure may be used by shareholders as the denominator when calculating if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. The Company does not hold any Ordinary Shares in treasury.
Capitalised terms in this announcement have the same meaning as in the Company's Circular, the "Proposed Placing" announcement published on 21 November 2023 and the "Results of Fundraising" announcement published on 22 November 2023.
**ENDS**
For further information contact:
| CleanTech Lithium Plc | Jersey office: +44 (0) 1534 668 321 Chile office: +562-32239222 |
| | Or via Celicourt |
| Celicourt Communications (UK) | +44 (0) 20 7770 6424 |
| Felicity Winkles/Philip Dennis/Ali AlQahtani | cleantech@celicourt.uk |
| Dr. Reuters IR (Europe) Eva Reuters
Harbor Access (North America) Jonathan Paterson/Lisa Micali | +49 69 1532 5857
+1 475 477 9401 |
| Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak | +44 (0) 20 7628 3396 |
| Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies Canaccord Genuity Limited (Joint Broker) James Asensio | +44 (0) 20 3884 8450
+44 (0) 207 523 4680
|
Notes
About CleanTech Lithium
CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and development company advancing sustainable lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium's mission is to produce material quantities of battery grade using sustainable Direct Lithium Extraction technology, powered by renewable energy, the Company plan to be the leading supplier of 'green' lithium to the EV and battery manufacturing market.
CleanTech Lithium has four lithium projects - Laguna Verde, Francisco Basin, Llamara and Salar de Atacama - located in the lithium triangle, the world's centre for battery grade lithium production. The two major projects: Laguna Verde and Francisco Basin are situated within basins controlled by the Company, which affords significant potential development and operational advantages. All four projects have direct access to existing infrastructure and renewable power.
CleanTech Lithium is committed to using renewable power for processing and reducing the environmental impact of its lithium production by utilising Direct Lithium Extraction. Direct Lithium Extraction is a transformative technology which removes lithium from brine, with higher recoveries and purities. The method offers short development lead times, low upfront capex, with no extensive site construction and no evaporation pond development so there is no water depletion from the aquifer. www.ctlithium.com
Appendix 1
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
| a) | Name | Steve Kesler | |||||||||
| 2 | Reason for notification | ||||||||||
| a) | Position / status | Executive Chairman | |||||||||
| b) | Initial notification/Amendment | Initial | |||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| a) | Name | CleanTech Lithium Plc | |||||||||
| b) | LEI | 213800Y3TN5JQCDA9U59 | |||||||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of GBP 0.01 Warrant over Ordinary Shares of GBP 0.01
ISIN: JE00BPCP3Z37 | |||||||||
| b) | Nature of the transaction | Share subscription and grant of warrants | |||||||||
| c) | Price(s) and volumes(s) |
| |||||||||
| d) | Aggregated information Aggregate volume Price(s) |
As per 4. c) above
| |||||||||
| e) | Date of the transaction | 2023-12-14 | |||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
| a) | Name | Gordon Stein | |||||||||
| 2 | Reason for notification | ||||||||||
| a) | Position / status | Chief Financial Officer | |||||||||
| b) | Initial notification/Amendment | Initial | |||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| a) | Name | CleanTech Lithium Plc | |||||||||
| b) | LEI | 213800Y3TN5JQCDA9U59 | |||||||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of GBP 0.01 Warrant over Ordinary Shares of GBP 0.01
ISIN: JE00BPCP3Z37 | |||||||||
| b) | Nature of the transaction | Share subscription and grant of warrants | |||||||||
| c) | Price(s) and volumes(s) |
| |||||||||
| d) | Aggregated information Aggregate volume Price(s) |
As per 4. c) above | |||||||||
| e) | Date of the transaction | 2023-12-14 | |||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
| a) | Name | Tommy McKeith | |||||||||
| 2 | Reason for notification | ||||||||||
| a) | Position / status | Non-Executive Director | |||||||||
| b) | Initial notification/Amendment | Initial | |||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| a) | Name | CleanTech Lithium Plc | |||||||||
| b) | LEI | 213800Y3TN5JQCDA9U59 | |||||||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of GBP 0.01 Warrant over Ordinary Shares of GBP 0.01
ISIN: JE00BPCP3Z37 | |||||||||
| b) | Nature of the transaction | Share subscription and grant of warrants | |||||||||
| c) | Price(s) and volumes(s) |
| |||||||||
| d) | Aggregated information Aggregate volume Price(s) |
As per 4. c) above | |||||||||
| e) | Date of the transaction | 2023-12-14 | |||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
| a) | Name | Jonathan Morley-Kirk | |||||||||
| 2 | Reason for notification | ||||||||||
| a) | Position / status | Senior Non-Executive Director | |||||||||
| b) | Initial notification/Amendment | Initial | |||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| a) | Name | CleanTech Lithium Plc | |||||||||
| b) | LEI | 213800Y3TN5JQCDA9U59 | |||||||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of GBP 0.01 Warrant over Ordinary Shares of GBP 0.01
ISIN: JE00BPCP3Z37 | |||||||||
| b) | Nature of the transaction | Share subscription and grant of warrants | |||||||||
| c) | Price(s) and volumes(s) |
| |||||||||
| d) | Aggregated information Aggregate volume Price(s) |
As per 4. c) above | |||||||||
| e) | Date of the transaction | 2023-12-14 | |||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
| a) | Name | Maha Daoudi | |||||||||
| 2 | Reason for notification | ||||||||||
| a) | Position / status | Non-Executive Director | |||||||||
| b) | Initial notification/Amendment | Initial | |||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| a) | Name | CleanTech Lithium Plc | |||||||||
| b) | LEI | 213800Y3TN5JQCDA9U59 | |||||||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of GBP 0.01 Warrant over Ordinary Shares of GBP 0.01
ISIN: JE00BPCP3Z37 | |||||||||
| b) | Nature of the transaction | Share subscription and grant of warrants | |||||||||
| c) | Price(s) and volumes(s) |
| |||||||||
| d) | Aggregated information Aggregate volume Price(s) |
As per 4. c) above | |||||||||
| e) | Date of the transaction | 2023-12-14 | |||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||
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