CleanTech Lithium PLC (AIM: CTL, OTCQX: CTLHF) has issued an update concerning the shareholding of its former CEO, Aldo Boitano. According to the company’s statement, Boitano no longer holds any shares in CleanTech Lithium, with the lender he worked with now possessing less than 3% of the company’s issued share capital.
Previously on April 9, the company reported that Boitano had secured a loan from a financial institution, leading to the transfer of 9.4 million shares into a custodial account managed by High West Capital Partners LLC.
Following this, CleanTech Lithium issued notices to entities believed to be associated with Boitano’s shares. The feedback received indicated that 6.68 million shares were reassigned to third parties as instructed by the lender.
The custodian account still holds the remaining 2.72 million shares for the lender and an associated party. The company has noted that despite multiple inquiries, the lender has not provided detailed information about these transactions.
Boitano has communicated to CleanTech Lithium that he was unaware of the lender’s actions in selling his shares or their right to manage the shares still held by the custodian.
