ATOME (AIM: ATOM), the leading developer of international green fertiliser projects, is pleased to announce a direct subscription by directors and certain senior management (the "Subscription") at a price per Ordinary Share of 50 pence (the "Issue Price") being approximately a 29% premium to the middle market price of the shares of the Company as at the close of business on 21 May 2025.
The Subscription
The Subscription has been made by the application of annual bonuses for the two previously un-awarded full years 2023 and 2024 and has been granted by the independent Remuneration Committee of the Company to the relevant executives pursuant to the terms of their contracts of employment/engagement. The relevant persons are responsible for their own tax liability on such awards. Each have agreed not to dispose of any interest in the bonus-related Subscription Shares until expiry of the period of 6 months from the date of subscription or the declaration of final investment decision ("FID") on the Villeta Project and completion of the full financing whichever shall first occur. Peter Levine, the Chairman, has additionally subscribed for a further 727,660 ordinary shares at the premium Issue Price of 50 pence.
This Subscription, with the lock-in period being at a substantial 29% premium to the current share price, demonstrates management's alignment with shareholders, as well as conviction and belief in the business, prospects and demonstrative value of the Company. In awarding the bonuses, the Remuneration Committee has taken into account the significant milestones achieved by the executives successfully placing ATOME at the forefront in its industry targetting FID at Villeta this year.
ATOME may, within the Directors current authorities, at its discretion extend the Subscription at the Issue Price. Any issue of additional new ordinary shares, if it were to occur, would be announced as soon as possible. Any existing shareholder may through their stockbroker contact the Company.
Subscriptions:
Directors: Peter Levine*
Number of Subscription Shares: 800,000 (including 727,660 further subscription)
Shareholding post issue: 14,765,674
Percentage holding in the Company post issue: 28.97%
Olivier Mussat
Number of Subscription Shares: 507,698
Shareholding post issue: 3,157,597
Percentage holding in the Company post issue: 6.20%
Nikita Levine
Number of Subscription Shares: 124,000
Shareholding post issue: 319,030
Percentage holding in the Company post issue: 0.63%
James Spalding
Number of Subscription Shares: 375,940
Shareholding post issue: 918,895
Percentage holding in the Company post issue: 1.80%
Robert Sheffrin
Number of Subscription Shares: 30,000
Shareholding post issue: 163,672
Percentage holding in the Company post issue: 0.32%
Senior Management
Denis Kurochkin
Number of Subscription Shares: 200,000
Shareholding post issue: 470,540
Percentage holding in the Company post issue: 0.92%
Terje Bakken
Number of Subscription Shares: 281,955
Shareholding post issue: 519,035
Percentage holding in the Company post issue: 1.02%
Juan Pablo Nogues
Number of Subscription Shares: 126,316
Shareholding post issue: 230,106
Percentage holding in the Company post issue: 0.45%
In aggregate, directors have subscribed for a total of 1,837,638 New Ordinary Shares representing 3.79%. of the existing issued share capital. In addition to the directors, other senior management have subscribed for a total of 608,271 Ordinary Shares.
Concert Party interest
The members of the Concert Party, including Peter Levine, the Chairman and original founder of ATOME (as defined in the Admission Document published on 17 December 2021), are currently interested in aggregate in 37.841% of the existing issued share capital, reducing to 37.838% in the enlarged issued share capital on Admission. As the members of the Concert Party therefore currently hold and will continue to hold on Admission more than 30% but less than 50% of the Company's voting share capital for so long as they continue to be treated as acting in concert, any further increases in the Concert Party's interests in Ordinary Shares are subject to the provisions of Rule 9 of the Takeover Code.
Admission
Application will be made for the Subscription Shares amounting to 2,445,909 in aggregate to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective at 8.00 am on or around 29 May 2025.
Total Voting Rights
Following Admission, the Company's issued and fully paid share capital will consist of 50,961,206 ordinary shares of 0.2 pence each (the "Ordinary Shares"). The Company has no Ordinary Shares in treasury. As such, the total number of voting rights in the Company will be 50,961,206 Ordinary Shares. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
