Atlantic Lithium, the African-focused lithium exploration and development company targeting to deliver Ghana's first lithium mine, has issued more than 1,4 million unlisted performance rights to key senior employees involved in the development of the Ewoyaa Lithium Project.
It said the performance rights were issued over new ordinary shares for zero consideration.
However, vesting of the performance rights is subject to performance conditions as set by the board and the recipient remaining employed by the company until the end of the measurement period.
The measurement period for the performance rights is between 31 July 2023 and 30 July 2026.
Atlantic said the company's remuneration and nomination committee believes that the use of performance rights provides a mechanism to attract, retain and reward employees and aligns the interests of employees with the growth objectives of the company.
Mathew Nyaungwa, Editor in Chief, Rough&Polished
