Neil Herbert, Executive Chairman of Atlantic Lithium explains why they rejected a bid for the company from their biggest shareholder, Assore, which was at a 65% premium to the share price.
Highlights
Atlantic Lithium, the African-focused lithium exploration and development company targeting to deliver Ghana's first lithium mine, announces that on 7 November 2023, the Company's major shareholder Assore International Holdings Limited presented a conditional and non-binding offer to acquire all of the shares in the Company that it does not already own, pursuant to a scheme of arrangement, at an offer price of £0.33 per share (A$0.63).