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Piedmont Lithium substantial shareholder The Bank of New York Mellon increases stake to 9.66%

In late May, the company’s scoping study and chemical plant PFS confirmed it will be a strategic and low-cost producer of battery-grade lithium hydroxide.

Pureprofile Ltd - Piedmont Lithium substantial shareholder The Bank of New York Mellon Corporation increases stake to 9.66%
Piedmont has appointed lithium veteran Austin Devaney as vice president – sales and marketing

Piedmont Lithium Ltd (ASX:PPL) (NASDAQ:PLL) substantial shareholder The Bank of New York Mellon Corporation (BNYMC) has increased its stake in the company to 9.66% from 8.48%.

BNYMC has obtained a further 9,926,900 shares in the lithium development company, increasing its total number of securities to more than 79.81 million.

Second acquisition in three months

This move comes after an acquisition of shares in March by BNYMC, when the it purchased 8,382,900 shares.

The Bank of New York Mellon Corp is the ultimate parent company of a corporate group comprised of a large number of operating and holding companies.

New sales and marketing VP

Piedmont recently strengthened its team through the appointment of lithium industry veteran Austin Devaney as vice president - sales and marketing.

Devaney, who has spent most of the past decade in senior marketing roles with major lithium producer Albemarle Corporation (NYSE:ALB), will play a broad strategic role with Piedmont.

In this regard, he will drive relationships with the global automotive, battery and cathode companies that are the prospective customers for the battery-grade lithium hydroxide the company plans to produce in the United States.

Devaney will join Piedmont on July 1, 2020, and will be based in the company’s Belmont, North Carolina headquarters.

Quick facts: Piedmont Lithium Ltd

Price: 0.09 AUD

ASX:PLL
Market: ASX
Market Cap: $92.95 m
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