Atlantic Lithium Limited
ALL · AIM · Basic Resources · mcap £109m · 13.9p 2 open situations →
Open · 2
Ewoyaa Mining Lease ratification
Huayou signed a binding Scheme Implementation Deed on 7 May 2026 for US$0.25486 per share in cash, and Atlantic consented on 11 May 2026 to Elevra's sale of its 22.5% Ghana rights to Huayou. On 17 Sep 2026 FIRB approval was received, satisfying the clause 3.1(a) condition. Other approvals, the shareholder vote and court approval remain.
- Conditions
- FIRB satisfied 17 Sep 2026; other regulatory approvals, shareholder vote and Supreme Court of Western Australia approval outstanding 17 Sep 2026 ↗
- Price link
- If Scheme Consideration changes within 3 months, the Elevra consideration changes proportionally 11 May 2026 ↗
- Offer
- US$0.25486 per share in cash (A$0.354 / £0.188); values company at about US$210m 17 Sep 2026 ↗
- Premium
- 26.6% to A$0.280 close on 6 May 2026; 21.8% to 30-day VWAP 17 Sep 2026 ↗
- Bidder
- Zhejiang Huayou Cobalt Co., Limited 17 Sep 2026 ↗
- Board view
- Unanimously recommends, absent a superior proposal and subject to independent expert's conclusion 17 Sep 2026 ↗
Next: Scheme Booklet despatch, then shareholder meeting
- 17 Sep 2026 FIRB condition satisfied; other conditions outstanding
- 31 Jul 2026 Scheme conditions being progressed; booklet due October 2026
- 11 May 2026 Elevra agrees to transfer rights to Huayou
- 30 Apr 2026 Phase 4 complete; results pending
Offer for the company
On 7 May 2026 Atlantic Lithium signed a binding Scheme Implementation Deed for Huayou to acquire 100% in cash at US$0.25486 (£0.188) per share, about £155m; the board unanimously recommends it. On 11 May 2026 the Company consented to Huayou buying Elevra's Ewoyaa interests, a deal not conditional on the Scheme. Completion is targeted for December 2026.
- Offer
- All-cash US$0.25486 (£0.188) per share, about £155m equity value, announced 7 May 2026 11 May 2026 ↗
- Premium
- 26.6% to A$0.280 last close (6 May 2026) 11 May 2026 ↗
- Board view
- Unanimous recommendation, absent a superior proposal and subject to the independent expert's best-interests conclusion 11 May 2026 ↗
- Irrevocables
- Assore (~26.4%) and directors (~1.8%) intend to vote in favour 11 May 2026 ↗
- Conditions
- 75% of votes cast, FIRB, PRC and ECOWAS approvals, Ghana SEC waivers, GRA ruling, Court approval; no financing or due diligence condition 7 May 2026 ↗
- Timetable
- Scheme Meeting November 2026; implementation December 2026 11 May 2026 ↗
Next: Scheme Meeting
- 17 Sep 2026 approved
- 7 May 2026 offer
- 23 Feb 2026 approach
Closed · 1
Company filings. Not investment advice.