Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH), the Africa-focused lithium exploration and development company advancing Ghana's first lithium mine, announced on 5 November 2026 that the Supreme Court of Western Australia has approved the convening of a shareholder meeting to consider the proposed acquisition by Huayou (Hong Kong) Company Limited, a wholly-owned subsidiary of Zhejiang Huayou Cobalt Company Limited. The acquisition is structured as an Australian scheme of arrangement, originally announced on 7 May 2026. The court ruling represents a significant procedural milestone for shareholders and depositary interest holders ahead of a December vote.

Key Points

  • Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH) is an Africa-focused lithium exploration and development company
  • The Supreme Court of Western Australia has approved the convening of a Scheme Meeting to vote on the proposed Huayou acquisition
  • The Scheme Meeting is scheduled for 14 December 2026, with the Scheme Booklet expected to be dispatched by 12 November 2026
  • Investors should watch for publication of the Scheme Booklet and the Independent Expert's Report ahead of the December shareholder vote

Supreme Court of Western Australia Clears Path for Atlantic Lithium Shareholder Vote on Huayou Deal

The Supreme Court of Western Australia made orders on 5 November 2026 approving both the convening of the Scheme Meeting and the distribution of the Scheme Booklet to Atlantic Lithium shareholders and depositary interest holders. The Scheme Booklet will be registered with the Australian Securities and Investments Commission (ASIC) before release to the ASX, AIM, and Ghana Stock Exchange. It will contain the unanimous recommendation of the Atlantic Lithium Board, a copy of the Independent Expert's Report, and the formal Notice of Scheme Meeting, providing shareholders with the information required to make an informed voting decision.

Atlantic Lithium Scheme Meeting Set for 14 December 2026 as Board Unanimously Backs Huayou Proposal

The Scheme Meeting will be held virtually on 14 December 2026 at 3:00pm AWST, equivalent to 7:00am London time. The Atlantic Lithium Board continues to unanimously recommend 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 shareholders' best interests. Each board member also intends to vote any shares held or controlled by them in favour. The Scheme Booklet is expected to be dispatched to shareholders and depositary interest holders by 12 November 2026.

AIM Cancellation Scheduled for 13 January 2027 if Atlantic Lithium Scheme Becomes Effective

In accordance with AIM Rule 41, Atlantic Lithium has notified the London Stock Exchange of its intention to cancel admission of its ordinary shares to trading on AIM on 13 January 2027, the business day following the Implementation Date, should the Scheme Resolution pass and the Scheme become effective. Trading on AIM is expected to be suspended from 7:30am London time on 21 December 2026. Atlantic Lithium's flagship asset is the Ewoyaa Lithium Project in Ghana, a spodumene pegmatite discovery for which the Parliament of Ghana ratified the Mining Lease in March 2026, positioning it as the country's first lithium-producing mine.