Results of General Meeting; Update on RFI Process
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CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration and development company advancing lithium projects in Chile, is pleased to announce that at the General Meeting of the Company held earlier today all resolutions, as set out in the circular dated 13 August 2024, were duly passed.
General Meeting:
The total number of (i) proxy votes received by the Company and (ii) votes in respect of shares represented at the General Meeting were as follows:
| R esolution | In Favour (including discretionary) | A gainst | Withheld | |||
|---|---|---|---|---|---|---|
| Votes | % | Votes | % | Votes | ||
| 1 | Authority to allot shares - up to aggregate £1,376,667.67 | 39,587,073 | 97.5% | 992,474 | 2.4% | 37,567 |
| 2 | Authority to allot shares - up to aggregate £706,096 | 39,740,843 | 97.8% | 838,704 | 2.1% | 37,567 |
| 3 | Disapplication of pre-emption rights up to aggregate £1,376,667.67 | 39,740,946 | 97.8% | 838,704 | 2.1% | 37,567 |
| 4 | Disapplication of pre-emption rights up to aggregate £423,657 | 39,740,946 | 97.8% | 838,601 | 2.1% | 37,567 |
| 5 | Amendment to Articles | 39,755,357 | 97.9% | 824,190 | 2.0% | 37,567 |
The General Meeting was held as part of the planned dual-listing by the Company on the Australian Securities Exchange ("ASX"). Further announcements will be made in due course on the progress of the dual-listing and the fundraising of up to A$20 million.
For further details of the ASX listing, including an indicative timetable of key dates, shareholders should refer to the Company's prospectus dated 26 August 2024, which is available on the Company's website.
Update on "Expressions of Interest" ("RFI") Process
On 10 July 2024, the Company provided an update on the RFI process after confirming on 17 June 2024 that it had submitted RFIs for the advanced Laguna Verde and Viento Andino projects and three others in Joint Ventures ("JV"). It was noted in the announcement of 10 July 2024 that the Company expected to hear back from the Chilean Government by the end of August 2024.
The Company understands that there has been a slight delay in the announcement by the Chilean Government and now expects to hear the next steps towards the award of CEOLs within a matter of weeks. The Company has maintained an ongoing dialogue with relevant parties in Chile on this matter and also continues to receive strong support from local indigenous community leaders in moving towards the early award of a CEOL for the advanced Laguna Verde project.
CTL believes it is well-positioned to meet the criteria expected to be set out by the Government for award of a CEOL given its licence position and the extensive work programmes carried out by the Company over the past 2-3 years, including the advancement of Direct Lithium Extraction ("DLE") through its one tonne per month pilot plant and through the ongoing support from local community leaders.
The Company will provide a further update when the Chilean Government has outlined the next steps on the CEOL award process.
Notes
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