Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH), the Africa-focused lithium exploration and development company advancing Ghana's first lithium mine, has confirmed the dispatch of its Scheme Booklet to shareholders and depositary interest holders in connection with the proposed acquisition of the company by Huayou (Hong Kong) Company Limited, a wholly-owned subsidiary of Zhejiang Huayou Cobalt Company Limited. The booklet, originally released on 6 November 2026, contains the Independent Expert's Report, the unanimous Board recommendation, and formal notice of the Scheme Meeting scheduled for 14 December 2026. The announcement marks a key procedural milestone in what would represent a transformative transaction for Atlantic Lithium investors.

Key Points

  • Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH) is an Africa-focused lithium exploration and development company targeting Ghana's first lithium mine
  • The Scheme Booklet covering the proposed acquisition by Huayou (Hong Kong) Company Limited has been formally dispatched to all shareholders and depositary interest holders
  • The Scheme Meeting is set for 14 December 2026, with an indicative Implementation Date of 12 January 2027 if shareholder approval is obtained
  • Investors should watch the Scheme Meeting outcome and any Court approvals, with trading suspensions on ASX, GSE, and AIM expected around 18 December 2026

Atlantic Lithium Board Unanimously Recommends Huayou Scheme of Arrangement

The Atlantic Lithium Board has confirmed it unanimously recommends that shareholders vote in favour of the Scheme in the absence of a superior proposal, and subject to the Independent Expert continuing to conclude the Scheme is in the best interests of shareholders. Each Board member intends to vote any Atlantic Lithium shares held or controlled by them in favour of the Scheme. The Scheme Booklet sets out detailed reasons both for and against the proposal, and shareholders are urged to read the document in its entirety before casting their votes at the 14 December 2026 Scheme Meeting.

Scheme Meeting Timetable: Key Deadlines for ALL Shareholders and DI Holders

The indicative timetable published in the Scheme Booklet sets several critical deadlines. Atlantic Lithium depositary interest holders must submit voting instructions by 3:00pm London time on 8 December 2026, while Australian shareholders must lodge proxy forms by 3:00pm AWST on 12 December 2026. The Scheme Meeting itself is scheduled for 3:00pm AWST on 14 December 2026. If shareholders approve the Scheme by the requisite majority, the Second Court Date is set for 17 December 2026, with an Effective Date of 18 December 2026 and an indicative Implementation Date of 12 January 2027. All post-meeting dates remain subject to Court approval.

Ewoyaa Lithium Project Underpins Atlantic Lithium's Strategic Value for Huayou

At the heart of the transaction is Atlantic Lithium's flagship Ewoyaa Lithium Project, a lithium spodumene pegmatite discovery in Ghana that holds permits to become the country's first lithium-producing mine. Ghana's Parliament ratified the Mining Lease in March 2026, following the granting of an Environmental Protection Authority Permit in September 2024 and a Mine Operating Permit in October 2024. The company also holds a portfolio spanning 509 square kilometres of granted tenure in Ghana and 771 square kilometres under application across Ghana and Côte d'Ivoire, offering Huayou material exposure to West African lithium resources.

Trading Suspensions and Conditions Precedent Remain Key Risks Before Implementation

Investors should be aware that Atlantic Lithium shares are expected to be suspended from trading on ASX and GSE from close of trading on 18 December 2026, with AIM suspension commencing from 21 December 2026 if the Scheme becomes effective. All implementation dates beyond the Scheme Meeting remain indicative only and are subject to Court approval and the satisfaction or waiver of Conditions Precedent detailed in section 3.7 of the Scheme Booklet. Any changes to the timetable will be announced across ASX, AIM, and GSE simultaneously, and notified on the Atlantic Lithium website.