14 February 2025
Aterian Plc
("Aterian" or the "Company")
Increase in EBT
Allocation
Aterian Plc (LSE: ATN), the
critical metal-focused exploration and development
company, announces an increase in the
allocation of shares to the Company's Employee Benefit Trust
("EBT"), previously
announced on 10 February 2025. The EBT allocation has been raised
from 361,000 shares to 565,000
shares, reflecting the Company's commitment to
aligning the interests of senior executives and directors with
shareholders through long-term equity incentives. The additional
EBT shares will be used as part of the Company's ongoing incentive
and compensation framework, reinforcing its strategy to reward and
retain key personnel as it advances its critical metals
projects.
All new shares issued will rank
pari passu with existing
Ordinary Shares of the Company. Following this increase, an
application will be made for the 204,000 newly issued shares to be
admitted to trading on the London Stock Exchange, with
admission expected to occur on or around
20 February 2025. Following the issue of these New
Ordinary Shares, the Company's enlarged issued share capital will
comprise 12,802,044 Ordinary Shares.
This figure of 12,802,044 represents
the total voting rights in the Company and should be used by
shareholders as the denominator for the calculation by which they
can determine 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 & Transparency
Rules.
Simon Rollason, CEO of Aterian plc,
commented:
"We continue to
prioritise the alignment of management incentives with shareholder
value. This increase in the EBT allocation underscores our
confidence in the Company's future and supports the retention of
key personnel as we advance our trading of and exploration for
critical metals."
- ENDS
-
This announcement contains
information which, prior to its disclosure, was inside information
as stipulated under Regulation 11 of the Market Abuse (Amendment)
(EU Exit) Regulations 2019/310 (as amended).
For further information, please
visit the Company's website: www.aterianplc.com
or contact:
Aterian Plc:
Charles Bray, Executive Chairman
- charles.bray@aterianplc.com
Simon Rollason, Director -
simon.rollason@aterianplc.com
Financial Adviser and Joint
Broker:
Novum Securities Limited
David Coffman
Colin Rowbury
Tel: +44 (0)207 399 9400
Joint Broker:
SP Angel Corporate Finance
LLP
Ewan Leggat / Adam
Cowl
Tel: +44 20 3470 0470
Financial PR:
Bald Voodoo
- ben@baldvoodoo.com
Ben
Kilbey
Tel: +44 (0)7811 209 344
Notes to Editors:
About Aterian plc
www.aterianplc.com
Aterian plc is an LSE-listed
exploration and development company with a diversified African
portfolio of critical metals projects.
Aterian plc is actively seeking to acquire and develop new
critical metal resources to strengthen its existing asset base
while supporting ethical and sustainable supply chains as the world
transitions to a sustainable, renewable future. The supply of
these metals is vital for developing the renewable energy,
automotive, and electronic manufacturing sectors, which are playing
an increasing role in reducing carbon emissions and meeting climate
ambitions globally.
The Company recently entered into a
joint venture agreement with Rio Tinto Mining and Exploration
Limited for Rio Tinto to earn into the HCK project in
southern Rwanda to explore and develop a
lithium-tantalum-niobium-tin mining operation. The Company also
holds an exploration licence in Rwanda. Aterian has a
portfolio of multiple copper-silver (+ gold) and base metal
projects in Morocco. In January 2024, the Company announced
the acquisition of a 90% interest in Atlantis Metals. This private
Botswana registered company holds one mineral prospecting licence
for copper-silver in the Kalahari Copperbelt and three for lithium
brine exploration in the Makgadikgadi Pans region.
The Company's strategy is to seek
new exploration and production opportunities across the African
continent and to develop new sources of critical mineral assets for
exploration, development, and trading.
