By Digifin Pty Ltd · About this coverage
Key Points
- FIRB no-objection notification received for Huayou scheme acquisition
- FIRB condition precedent under the 7 May 2026 SID is satisfied
- Board still unanimously recommends voting in favour, subject to stated qualifications
- Scheme Booklet expected October 2026; meeting November; implementation December
- Still subject to other approvals, shareholder vote and WA Supreme Court
About Atlantic Lithium (ASX:A11)
Atlantic Lithium Limited is an AIM, ASX and GSE listed lithium exploration and development company. Its flagship asset is the Ewoyaa Lithium Project in Ghana, which it is advancing toward production.
Atlantic Lithium (ASX:A11) reports that FIRB approval for Zhejiang Huayou Cobalt's proposed scheme acquisition has been satisfied, clearing one condition under the Scheme Implementation Deed.
Huayou advised that the Australian Treasury provided written notification under section 75 of the Foreign Acquisitions and Takeovers Act 1975 that the Commonwealth has no objection to the Scheme. As a result, the FIRB condition precedent under clause 3.1(a) of the SID entered into on 7 May 2026 has been satisfied. 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 an independent expert concluding (and continuing to conclude) that the Scheme is in the best interests of Atlantic Lithium shareholders. A Scheme Booklet is expected to be despatched to shareholders in October 2026 subject to Court approval, with a Scheme Meeting expected in November 2026 and implementation expected in December 2026 subject to conditions.
The Scheme remains subject to other regulatory approvals, approval by the requisite majority of Atlantic Lithium shareholders and approval by the Supreme Court of Western Australia. The release does not restate the offer consideration.
Source: Atlantic Lithium Limited (ASX:A11), 17 September 2026. Summary content supplied by Digifin Pty Ltd.
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