Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH), the Africa-focused lithium exploration and development company advancing Ghana's first lithium mine, has registered its Scheme Booklet with the Australian Securities and Investments Commission (ASIC) in connection with the proposed acquisition by Huayou (Hong Kong) Company Limited, a wholly-owned subsidiary of Zhejiang Huayou Cobalt Company Limited. The booklet is expected to be dispatched to shareholders and depositary interest holders by 12 November 2026, with a Scheme Meeting scheduled for 14 December 2026. The Atlantic Lithium Board continues to unanimously recommend that shareholders vote in favour of the Scheme, and an Independent Expert has concluded the transaction is fair, reasonable, and in shareholders' best interests in the absence of a superior offer.

Key Points

  • Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH)
  • Scheme Booklet registered with ASIC on 6 November 2026 in connection with the proposed acquisition by Huayou (Hong Kong) Company Limited via an Australian scheme of arrangement
  • Scheme Booklet dispatch expected by 12 November 2026; Scheme Meeting set for 14 December 2026 at 3:00pm AWST / 7:00am London time, held virtually
  • Investors should monitor shareholder voting outcomes at the 14 December Scheme Meeting and whether any superior proposal emerges before that date

Huayou Acquisition of Atlantic Lithium's Ewoyaa Lithium Project Moves to Shareholder Vote Stage

The proposed acquisition of Atlantic Lithium by Huayou (Hong Kong) Company Limited, a wholly-owned subsidiary of Zhejiang Huayou Cobalt Company Limited, is progressing via an Australian scheme of arrangement, originally announced on 7 May 2026. Atlantic Lithium's flagship asset is the Ewoyaa Lithium Project, a lithium spodumene pegmatite discovery in Ghana that holds permits targeting production as the country's first lithium mine. The Parliament of Ghana ratified the Mining Lease for the project in March 2026, following the granting of an Environmental Protection Authority Permit in September 2024 and a Mine Operating Permit in October 2024.

Independent Expert BDO Corporate Finance Concludes Scheme is Fair and Reasonable for Atlantic Lithium Shareholders

The Scheme Booklet includes an Independent Expert's Report prepared by BDO Corporate Finance Australia Pty Ltd. The Independent Expert concluded that, in the absence of a superior offer, the Scheme is fair and reasonable and in the best interests of Atlantic Lithium shareholders. The Atlantic Lithium Board unanimously recommends that shareholders vote in favour of the Scheme, subject to no superior proposal emerging and the Independent Expert continuing to hold the same conclusion. Each Board member also intends to vote any Atlantic Lithium shares held or controlled by them in favour of the Scheme.

Scheme Meeting Scheduled Virtually for 14 December 2026 Across Australian, Ghana, and UK Registers

The Scheme Meeting will be held virtually on 14 December 2026 at 3:00pm AWST, equivalent to 7:00am London time and 7:00am Accra time. Shareholders across Atlantic Lithium's Australian principal register, Ghana branch register, and US branch register, as well as depositary interest holders, will each receive tailored communications with voting instructions. Depositary interest holders on the AIM register may attend as guests but must submit voting instructions via the Form of Instruction or the CREST voting service and are not permitted to vote directly at the meeting. Atlantic Lithium also holds a portfolio of lithium licences spanning 509km² and 771km² across Ghana and Côte d'Ivoire respectively.

Atlantic Lithium Shareholders Encouraged to Read Scheme Booklet in Full Before Deciding How to Vote

The Scheme Booklet, available on Atlantic Lithium's website and via ASX and GSE announcement platforms, contains the Board's reasons for recommending the Scheme, the full Independent Expert's Report, and the Notice of Scheme Meeting. The company has established a dedicated shareholder information line reachable on 1300 544 701 within Australia or +61 3 9415 4822 internationally. Shareholders are encouraged to seek independent financial, legal, accounting, taxation, or other professional advice before casting their votes, as the Scheme Booklet sets out arguments both for and against approving the transaction.