Atlantic Lithium Limited, the Africa-focused lithium exploration and development company targeting the delivery of Ghana’s first lithium mine, revealed that the Supreme Court of Western Australia (“Court”) has today made orders approving the convening of a meeting of Atlantic Lithium shareholders to consider and, if thought fit, approve the Scheme (“Scheme Meeting”).
The Court has also approved the distribution to Atlantic Lithium shareholders and Atlantic Lithium depositary interest holders of an explanatory statement providing information about the Scheme (“Scheme Booklet”).
The company updated its stakeholders in relation to the proposed acquisition of the Company by Huayou (Hong Kong) Company Limited, a wholly-owned subsidiary of Zhejiang Huayou Cobalt Company Limited, a Chinese firm by way of an Australian scheme of arrangement (“Scheme”), as announced on 7 May 2026 .
Scheme Meeting
The Scheme Meeting will be held at 3:00 pm (AWST) / 7:00am (Accra time) / 7:00am (London time) on 14 December 2026, virtually at https://meetnow.global/M9QVQNJ.
Further details regarding the Scheme Meeting, including how Atlantic Lithium shareholders and Atlantic Lithium depositary interest holders can participate and vote, will be set out in the Scheme Booklet.
Scheme Booklet
The Scheme Booklet will be released to ASX, AIM and the Ghana Stock Exchange (“GSE”) following registration with the Australian Securities and Investments Commission (“ASIC”), which is expected to occur shortly.
The Scheme Booklet will also be made available on the Company’s website at www.atlanticlithium.com.au.
The Scheme Booklet will contain important information in relation to the Scheme, including the reasons for the unanimous recommendation of the Atlantic Lithium Board, a copy of the Independent Expert’s Report and Notice of the Scheme Meeting.
Atlantic Lithium shareholders and Atlantic Lithium depositary interest holders are advised to read the Scheme Booklet in its entirety before making any decision in relation to the Scheme.
Shareholders and depositary interest holders are encouraged to seek independent financial, legal, accounting, taxation and/or other professional advice before making any voting or investment decision in relation to their Atlantic Lithium shares or depositary interests.
Reasons to vote for or against the Scheme are set out in the Scheme Booklet.
Recommendation of the Atlantic Lithium Board
The Atlantic Lithium Board continues to unanimously recommend that shareholders vote in favour of the Scheme, in the absence of a superior proposal and subject to the Independent Expert continuing to conclude that the Scheme is in the best interests of Atlantic Lithium shareholders.
Subject to those same qualifications, each member of the Atlantic Lithium Board intends to vote any Atlantic Lithium shares held or controlled by them in favour of the Scheme.
Timetable
The Scheme Booklet is expected to be dispatched to Atlantic Lithium shareholders and depositary interest holders by 12 November 2026.
The Scheme Booklet will include an indicative timetable setting out further detail. Atlantic Lithium encourages shareholders to read the Scheme Booklet in full when it is made available before deciding how to vote on the Scheme.
