CleanTech Lithium Announces Share Consolidation Plan for AGM

CleanTech Lithium to Consolidate Shares at Upcoming AGM

CleanTech Lithium PLC, a company listed on the AIM market and known for lithium extraction tailored for clean energy applications, is set to implement a share consolidation plan. This plan is scheduled for review and approval at the forthcoming Annual General Meeting (AGM). The meeting is particularly significant as shareholders will vote on a proposal to consolidate every two existing ordinary shares, each valued at £0.01, into one new ordinary share worth £0.02.

Impact of the Share Consolidation

The consolidation is strategically aimed at enhancing the company’s share capital structure. This change means that after the consolidation takes effect, the total number of shares in circulation will decrease from approximately 167.9 million to about 83.9 million. Such a move often seeks to stabilize stock prices and potentially attract more institutional investors who prefer companies with higher share prices and reduced share counts.

New Share Details

Post-consolidation, new ordinary shares will be identified by the International Securities Identification Number (ISIN) JE00BTJ01443, and they will also be listed under the Stock Exchange Daily Official List (SEDOL) number BTJ0144. Transactions involving the new shares are expected to commence from 8:00 a.m. on the first trading day following the AGM. Shareholders are encouraged to remain attentive to this change as it reflects the company’s ongoing commitment to enhancing shareholder value.

Proxy Voting and Timeline

To ensure active participation, shareholders must submit their proxy forms and voting instructions by 11:00 a.m. on the day before the AGM. Results from the AGM will be publicly announced on the same day, allowing for immediate clarity on the outcome of the consolidation plan. Following the completion of the AGM, the record date for share consolidation has been set for 6:00 p.m. on the day of the meeting.

Commitment to Sustainable Practices

CleanTech Lithium is centered on promoting sustainable lithium extraction methodologies, particularly in Chile, a region rich in lithium resources. The company emphasizes a commitment to achieving net-zero operations while utilizing Direct Lithium Extraction technology that is powered by renewable energy sources. Such advancements not only support cleaner production methods but also enhance the viability of the company’s projects in a global market increasingly focused on sustainability.

Insight into the Company's Future Direction

With significant lithium projects under its portfolio, CleanTech Lithium stands poised for substantial growth. The consolidation of shares could reflect a broader strategy to ensure that shareholders are aligned with the company’s future ambitions. By streamlining its capital structure, CleanTech Lithium aims to strengthen its position in the marketplace, potentially unlocking new opportunities and attracting further investment. This proactive approach can play a key role in fulfilling its ambitious growth objectives.

Further Information Available

For shareholders looking to understand the rationale behind the share consolidation plan, detailed insights and further information have been provided via a circular issued on the company’s website. This document includes the official notice of the AGM and outlines the numerous advantages the consolidation might bring. As CleanTech Lithium continues on this exciting trajectory, transparency remains vital for building trust and confidence among shareholders.

Frequently Asked Questions

What is the purpose of the share consolidation?

The share consolidation aims to streamline the company's capital structure and potentially enhance shareholder value by reducing the number of shares in circulation.

When will the consolidation take effect?

The consolidation is scheduled to take effect from 8:00 a.m. on the day following the AGM.

How will this affect individual shareholders?

After the consolidation, shareholders will hold fewer shares, but each share will be proportionally more valuable, maintaining the overall value of their investment.

What new identifiers will the shares have after consolidation?

The new ordinary shares will have the ISIN JE00BTJ01443 and the SEDOL number BTJ0144.

Where can I find more details about the AGM?

Further details regarding the AGM and the share consolidation can be found in the circular on CleanTech Lithium's website.

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