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12 stories mentioning ASX:EURUpdated 24d ago

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Asia

European Lithium, Critical Metals Amend Merger Terms

European Lithium (ASX:EUR) and Critical Metals (CRML) revised the terms of their proposed merger, with both companies confirming they remain on schedule to complete the court-approved schemes of arrangement, according to an Australian bourse filing on July 3 after market hours.Under the revised agreement, shareholders and option holders holding 50,000 or fewer company securities may elect to have their CRML shares sold on-market and receive the cash proceeds, with the scheme consideration now to be issued directly as CRML shares rather than through a Chess depositary interest structure, per the filing.The scheme booklet, which will include an independent expert's report, is expected to be distributed in late July or early August, with the scheme anticipated to be implemented in October, subject to shareholder, option holder, and court approvals, the filing said.The company's independent board committee continues to recommend the deal, the filing added.

ASX:EUR
Asia

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

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.

ASX:EUR
Asia

CuFe Says European Lithium Reduces Stake

CuFe (ASX:CUF) received notice that European Lithium (ASX:EUR) decreased their holdings in the company to 16.7% from 17.9%, according to a Monday Australian bourse filing.European Lithium now owns 342.4 million shares in the company, the filing said.

ASX:CUFASX:EUR
Asia

ASX Preview: Australian Shares Set to Rise as Oil Eases After Trump Delays Iran Strike; Technology One Posts Higher Fiscal H1 Earnings, Revenue

Australian shares are poised to rise on Tuesday after oil prices eased and global markets steadied, as traders reacted to US President Donald Trump's decision to delay a planned strike on Iran amid renewed diplomatic efforts by Gulf allies to secure a nuclear deal.Overnight, the S&P 500 and the Nasdaq Composite fell 0.1% and 0.5% respectively, while the Dow Jones Industrial Average gained 0.3%.In the macroeconomy, the number of Australian capital city homes that went to auction in the week ending May 17 dropped around 11% from the previous week to 1,939 homes, but remained higher than the 1,784 homes a year earlier, Cotality said in a Monday report.The ANZ-Roy Morgan Australian consumer confidence rose 2.3 points to 66.4 in the week of May 11 to May 17, ANZ reported Tuesday.Investors are eyeing the Reserve Bank of Australia's May monetary policy board meeting minutes.In corporate news, Technology One (ASX:TNE) reported Tuesday fiscal first-half earnings of AU$0.2028 per share on revenue of AU$322.7 million, compared with earnings of AU$0.1908 on revenue of AU$291.3 million a year earlier.European Lithium (ASX:EUR) agreed to be acquired by Nasdaq-listed Critical Metals at an implied value of AU$0.58 per share.Australia's benchmark index fell 1.5% or 125.5 points to close at 8,505.30 on Monday.

ASX 200ASX:EURASX:TNE
Asia

Critical Metals to Acquire European Lithium at an All-Share Deal

European Lithium (ASX:EUR) has agreed to be acquired by Nasdaq-listed Critical Metals at an implied value of AU$0.58 per share, according to a Tuesday filing with the Australian bourse.Under the binding deal, European Lithium shareholders will get 0.035 Critical Metals shares for every European Lithium share held, per the filing.Once the transaction is completed, European Lithium's 7.5% interest in the Tanbreez rare earths project in Greenland will be consolidated within Critical Metals to make it the sole owner of Tanbreez.European Lithium, which has a shareholding of about 31% shareholding in Critical Metals, said its shareholders will own about 41% of the combined Critical Metals group following the acquisition.The deal "removes the look-through valuation discount associated with European Lithium's shareholding in Critical Metals" and "creates a simpler and more compelling investment proposition" for European Lithium shareholders, the company said.Critical Metals is considering a secondary listing on the Australian stock exchange, and if it pursues the option, European Lithium shareholders will receive the consideration in ASX-listed CHESS depository interests.

ASX:EUR
Asia

European Lithium Agrees to Extend Exclusivity Period to Finalize Scheme Implementation Deed

European Lithium (ASX:EUR) agreed with Nasdaq-listed Critical Metals to extend the exclusivity period to finalize a binding scheme implementation deed for the acquisition of all of the issued share capital and listed options in the company through a scheme of arrangement, according to a Friday filing with the Australian bourse.Shareholders would receive 0.035 new Critical Metals shares for each company share held under the proposed share scheme, the filing said.Meanwhile, company listed option holders would receive new Critical Metals shares reflecting the in-the-money value of their options on a cashless exercise basis under the proposed option scheme, per the filing.

ASX:EUR
Asia

European Lithium Says Morgan Stanley Becomes Substantial Holder; Shares Up 8%

European Lithium (ASX:EUR) received notice that Morgan Stanley and its subsidiaries became substantial holders of the company on Tuesday, according to a Friday Australian bourse filing.Morgan Stanley now owns 93.3 million shares in the company, representing a 5.44% total voting power, the filing said.The company's shares rose around 8% in recent Friday trade.

ASX:EUR
Asia

European Lithium Joint Venture Appoints Engineering Firm for Design Work on Saudi Arabia Lithium Refinery, Shares Jump 8%

European Lithium's (ASX:EUR) joint venture with Obeikan Investment Group appointed Hatch, an engineering firm, to begin design work on a lithium refinery in Saudi Arabia, which is expected to produce up to 20,000 metric tonnes of battery-grade lithium hydroxide, according to a Thursday Australian bourse filing.Further infill drilling at the Upper Fjord and Hill deposits, part of the Tanbreez project, as well as reconnaissance and associated geotechnical work, are proposed, subject to final Greenland regulatory approvals.Exploration crews were mobilized at its Northern License Area Irish lithium projects, with geochemical, rock chip, and channel sampling programs underway.Its shares advanced 8% in recent trading on Thursday.

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Asia

Australian Shares Decline; European Lithium Signs Agreement to Combine With Nasdaq-Listed Critical Metals

Australian shares declined at Tuesday's close as markets faced uncertainty as the stalemate in the talks to end the conflict in the Middle East continued.The S&P/ASX 200 Index fell 0.64%, or by 55.70 points, to close at 8,710.70.Brent crude oil futures rose 1% to reach $109.52 per barrel. The Strait of Hormuz continued to be closed, and the US was reviewing Iran's latest proposal to resolve the conflict in the Middle East.On the domestic front, the ANZ-Roy Morgan Australian consumer confidence rose 3.5 points to 67.8 in the week of April 20 to April 26.Headline inflation is forecast to have risen 1.4% quarter-on-quarter, partly due to higher fuel prices in March, and the Reserve Bank of Australia is still expected to lift the cash rate by 25 basis points at its May meeting, according to ANZ economist Sophia Angala.In company news, European Lithium (ASX:EUR) signed an agreement to combine with Nasdaq-listed Critical Metals through the acquisition of all of the company's issued securities via a scheme of arrangement at an exchange ratio of 0.035 Critical Metals shares for each European Lithium share, with each shareholder receiving Critical Metals scrip at an implied value of AU$0.58 per European Lithium share held, if the proposal is implemented. Its shares soared 46% at market close.Whitehaven Coal (ASX:WHC) said managed run-of-mine (ROM) production reached 9.5 million tonnes in the fiscal third quarter ended March, including 4.1 million tonnes from Queensland and 5.4 million tonnes from New South Wales. Its shares closed up 4%.Lastly, Beach Energy (ASX:BPT) produced 4.8 million barrels of oil equivalent in the quarter ended March 31, slightly down from 4.9 million barrels of oil equivalent in the same period last year. Sales volumes fell to 5.3 million barrels of oil equivalent from 6.4 million barrels of oil equivalent, while sales revenue was down to AU$419 million from AU$552 million. Its shares were down 1% on market close.

ASX 200ASX:BPTASX:EURASX:WHC
Asia

European Lithium Signs Agreement to Combine With Nasdaq-Listed Critical Metals; Shares Up 57%

European Lithium (ASX:EUR) signed an agreement to combine with Nasdaq-listed Critical Metals through the acquisition of all of the company's issued securities via a scheme of arrangement for scrip consideration, according to a Tuesday filing with the Australian bourse.The company's shares will be acquired through a scheme of arrangement at an exchange ratio of 0.035 Critical Metals shares for each European Lithium share, with each shareholder receiving Critical Metals scrip at an implied value of AU$0.58 per European Lithium share held, if the proposal is implemented, the filing said.The proposal also outlines that all listed European Lithium options will be acquired through an option scheme of arrangement, per the filing.European Lithium shares rose 57% in morning trade on Tuesday.

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Asia

Market Chatter: European Lithium Said to Receive Over AU$1 Billion Bid From Nasdaq-Listed Firm

European Lithium (ASX:EUR) is said to be in talks with Critical Metals for a AU$0.58-per-share bid for European Lithium, resulting in a deal value of around AU$1.16 billion, the Australian Financial Review (AFR) reported on Monday, citing unnamed people familiar with the discussions.European Lithium owns 37.5% of the Nasdaq-listed Critical Metals. The Tanbreez rare earths mine in Greenland and the Wolfsberg lithium project in Austria are said to be the driving force behind the merger.Critical Metals received regulatory approval to own 92.5% of the Tanbreez mine on April 20, while European Lithium received approval to own a 7.5% stake.An ASX announcement is expected to be made as early as Tuesday, per the report.European Lithium did not immediately respond to an emailed request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

European Lithium Says Critical Metals Wins Greenland Approval for Greenland Mine Stake; Shares Up 6%

European Lithium (ASX:EUR) said Nasdaq-listed Critical Metals has received approval from the Government of Greenland for the transfer of the remaining 50.5% interest in the Tanbreez Greenland Rare Earth Mine, bringing Critical Metals' total ownership to 92.5%, according to a Monday Australian bourse filing.European Lithium, which also owns 37.5% interest in Critical Metals, said it will continue to maintain its 7.5% minority interest in the Tanbreez Project."We are now progressing with momentum, supported by advancing technical programs, strong metallurgical results, and engagement with our offtake partners. Tanbreez is no longer a future project - it is a project in development," said Executive Chairman Tony Sage.European Lithium's shares rose past 6% in recent Monday trade.

ASX:EUR

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