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European Lithium Says Critical Metals Scheme on Track for Early September Completion; Shares Up 7%

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European Lithium (ASX:EUR) said its proposed acquisition by Critical Metals remains on track, with the scheme booklet expected in late July and completion still targeted for early September, subject to shareholder and court approvals, according to a Thursday filing with the Australian bourse.

The company said that work is progressing as planned, with the scheme booklet well advanced, and that both parties and their advisers are maintaining active collaboration, per the filing.

The independent expert report assessing whether the deal is in the best interests of shareholders and option holders is nearing completion and will be included in the scheme booklet, the filing added.

The company's shares rose 7% in recent Thursday trade.

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