CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration and improvement firm advancing sustainable lithium tasks in Chile for the clear power transition, is happy to announce that additional to its bulletins of 21 and 22 November 2023 in relation to the Putting, CTL is at the moment posting a round to Shareholders, setting out particulars of the Putting and the Open Provide and together with a discover of Normal Assembly (“GM”) (the “Round”).
As introduced on 22 November 2023, CleanTech Lithium has conditionally raised £8 million (earlier than bills) by means of a putting of 36,363,638 New Peculiar Shares at a worth of twenty-two pence per Putting Share. Roughly £3.1 million has been raised pursuant to the Agency Putting with the stability being raised underneath the Conditional Putting, conditional upon Shareholders approving the Resolutions on the GM, discover of which is ready out on the finish of the Round.
The Putting Shares carry a warrant entitlement of 1 Warrant for each two Putting Shares and the grant of the Warrants attaching to the Conditional Putting Shares can be topic to Shareholder approval of the related Decision. A Warrant grants the holder the precise to subscribe for one new Peculiar Share at 33 pence and is exercisable through the interval commencing on the date of grant and ending on 14 December 2026.
Capitalised phrases used however not outlined on this announcement shall have the that means given to them within the announcement revealed by the Firm on 21 November 2023 in reference to the Fundraising.
Particulars of the Open Provide
The Firm considers it essential that Qualifying Shareholders have a chance (the place it’s practicable for them to take action) to take part within the Fundraising and accordingly the Firm is making the Open Provide to Qualifying Shareholders. The Firm is proposing to boost as much as roughly £0.5 million (earlier than bills) by way of the problem of as much as 2,365,188 Open Provide Shares. The Open Provide is conditional upon, inter alia, the passing of the Resolutions on the GM.
The Open Provide Shares can be found to Qualifying Shareholders pursuant to the Open Provide on the Challenge Worth of twenty-two pence per share, being the identical worth per share because the Putting. Open Provide Shares carry a warrant entitlement of 1 Warrant for each two Open Provide Shares, once more on the identical phrases because the Putting.
A Warrant grants the holder the precise to subscribe for one new Peculiar Share at 33 pence and is exercisable through the interval commencing on the date of grant and ending on 14 December 2026.
Open Provide Shares utilized for pursuant to the Open Provide are payable in full on acceptance. Any Open Provide Shares not subscribed for by Qualifying Shareholders will likely be obtainable to Qualifying Shareholders underneath the Extra Utility Facility. Qualifying Shareholders could apply for Open Provide Shares underneath the Open Provide on the Challenge Worth on the next foundation:
1 Open Provide Share for each 45 Current Peculiar Shares held by the Qualifying Shareholder on the File Date
Entitlements of Qualifying Shareholders will likely be rounded all the way down to the closest complete variety of Open Provide Shares. The Entitlements of Qualifying Shareholders to Warrants will likely be rounded all the way down to the closest complete variety of Warrants. Fractional entitlements which might in any other case come up won’t be issued to the Qualifying Shareholders however will likely be made obtainable underneath the Extra Utility Facility. The Extra Utility Facility permits Qualifying Shareholders to use for Extra Open Provide Shares in extra of their Open Provide Entitlement. Not all Shareholders will likely be Qualifying Shareholders. Shareholders who’re positioned in, or are residents of, or have a registered workplace in sure abroad jurisdictions won’t qualify to take part within the Open Provide. The eye of Abroad Shareholders is drawn to paragraph 6 of Half III of the Round.
Legitimate purposes by Qualifying Shareholders will likely be glad in full as much as their Open Provide Entitlements as proven on the Utility Type. Candidates can apply for much less or greater than their entitlements underneath the Open Provide however the Firm can not assure that any software for Extra Open Provide Shares underneath the Extra Utility Facility will likely be glad as this can rely partly on the extent to which different Qualifying Shareholders apply for lower than or greater than their very own Open Provide Entitlements. The Firm could fulfill legitimate purposes for Extra Open Provide Shares of candidates in complete or partly however reserves the precise to not fulfill any extra above any Open Provide Entitlement. Purposes made underneath the Extra Utility Facility will likely be scaled again professional rata to the variety of shares utilized for if purposes are acquired from Qualifying Shareholders for greater than the obtainable variety of Extra Open Provide Shares.
Utility has been made for the Open Provide Entitlements to be admitted to CREST. It’s anticipated that such Open Provide Entitlements will likely be credited to CREST on 24 November 2023. The Open Provide Entitlements will likely be enabled for settlement in CREST till 11.00 a.m. on 13 December 2023. Purposes by way of the CREST system could solely be made by the Qualifying CREST Shareholder initially entitled or by an individual entitled by advantage of bona fidemarket claims. The Open Provide Shares have to be paid in full on software. The newest time and date for receipt of accomplished Utility Types or CREST purposes and cost in respect of the Open Provide is 11.00 a.m. on 13 December 2023. The Open Provide will not be being made to sure Abroad Shareholders, as set out in paragraph 6 of Half III of the Round.
Qualifying Shareholders ought to word that the Open Provide will not be a rights difficulty and subsequently Open Provide Entitlements is probably not traded and the Open Provide Shares which aren’t utilized for by Qualifying Shareholders won’t be offered available in the market for the good thing about the Qualifying Shareholders who don’t apply underneath the Open Provide. The Utility Type will not be a doc of title and can’t be traded or in any other case transferred.
Additional particulars of the Open Provide and the phrases and circumstances on which it’s being made, together with the process for software and cost, are contained in Half III of the Round and on the accompanying Utility Type.
The Open Provide is conditional on, inter alia, Shareholders approving the Resolutions on the Normal Assembly and the Putting changing into or being declared unconditional in all respects. Accordingly, if these circumstances will not be glad or waived (the place able to waiver), the Open Provide won’t proceed, and the Open Provide Shares won’t be issued, and all monies acquired by the Registrars will likely be returned to the candidates (on the applicant’s danger and with out curiosity) as quickly as doable thereafter. Any Open Provide Entitlements admitted to CREST will thereafter be disabled.
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