Bonus Issue Appointment of Nominee
- Lake has appointed a nominee to receive options that would otherwise have been issued to offshore "Ineligible Shareholders" to facilitate their participation in the Bonus Option issue.
- Bonus Options will have an exercise price $0.35 each, expiring on 15 October 2021 and, if exercised, will result in the issue of a second option (Additional Options) and each Additional Option will have an exercise price $0.75 each, expiring on 15 June 2022
Lake is pleased to welcome the support from Lodge Partners Pty Ltd (Nominee or Lodge), which has agreed to act as Nominee for the holding and exercise of Bonus Options for offshore or foreign shareholders ("Ineligible Shareholders"), outside of the following Eligible Jurisdictions identified in the Bonus Option Issue Prospectus, namely Australia, New Zealand and the United Kingdom, Jersey, the Netherlands, the Republic of Ireland, Argentina, Indonesia, Pakistan, Hong Kong and Singapore , which would have otherwise been issued to these Ineligible Shareholders, if they had addresses in Eligible Jurisdictions. These Ineligible Shareholders constitute approximately 2.5% of the Lake shareholders at the Record Date, Thursday 24 August 2021.
As previously noted in the Bonus Option Issue Prospectus, Lake intended to seek the appointment of a nominee to receive and exercise the Ineligible Shareholders' Options to which they would otherwise be entitled, sell any resulting Shares and Additional Options and remit the proceeds to those Ineligible Shareholders. Lake has now appointed Lodge as Nominee. As previously noted, the Nominee will have the absolute and sole discretion to determine the price at which any resulting Shares and Additional Options are sold.
Full details are available in the link below:
About Lake Resources NL
Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost.
This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.
Lake Resources NL