LONDON – CleanTech Lithium PLC, an AIM-listed lithium extraction company for the clean energy sector, has announced a share merger plan to be voted on at next year’s Annual General Meeting (AGM) on Tuesday. The company said, subject to shareholder approval, it would combine two existing ordinary shares of £0.01 each into a new ordinary share of £0.02. This move is expected to improve the company’s share capital structure.
The new ordinary shares, after the merger, will have International Securities Identification Number (ISIN) JE00BTJ01443 and Stock Exchange Daily Official List (SEDOL) number BTJ0144. The merger is scheduled to take effect from 8:00am the day after the AGM, and trading of the new shares will begin on the AIM market at that time.
According to the timetable provided, the company’s shareholders have until 11:00 am the day before the AGM to submit their proxy forms and voting instructions. The results of the AGM will be announced on the same day, and the record date for the consolidation of shares will be set at 6:00pm on Tuesday.
After the merger, the number of shares to be issued will increase from 167,889,592 to 83,944,796. The company also explained the expected dates for depositing new common shares in the CREST accounts in certificateless form and for sending definitive certificates of shares in certified form.
CleanTech Lithium’s operations are focused on developing lithium projects in Chile, with a commitment to net-zero operations and the use of Direct Lithium Extraction technology powered by renewable energy. The company’s projects are located in the lithium-rich region of Chile, with great development potential and operational benefits.
The press release also states that more information about the reasons and background of the proposed merger is available in a circular on the company’s website, including the AGM notice.
This information is based on a press release issued by CleanTech Lithium PLC and is intended to provide shareholders and the market with factual updates about the company’s corporate actions.
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