EANS-Adhoc: EUROPEAN LITHIUM CONSIDERS MOVING ITS PRIMARY LISTING
TO THE VIENNA STOCK EXCHANGE
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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is responsible for the content of this announcement.
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No Keyword
10.09.2018
West Leederville -
* European Lithium considers the spinoff and main listing of its Austrian
subsidiary in the PRIME MARKET on Vienna Stock Exchange
* European Lithium moves operational management to Wolfsberg
European Lithium Limited (ASX:EUR, FRA:PF8, VSE:ELI) (the Company) advises that
its Board is investigating the spinoff of its Austrian subsidiary that holds the
lithium assets to the existing EUR shareholders and to list this entity at the
PRIME MARKET at the Vienna Stock Exchange (VSE). If the transaction is
successfully implemented, the Company is thus striving for a rank in the top 40
companies on the VSE and the participation in the ATX prime market index.
In October 2017 EUR was the first Australian company to be admitted to the VSE
and the listing has substantially increased exposure of the Company and its
Austrian located Wolfsberg Lithium project to European investors. This has
enabled Austrian institutions and private wealth clients to become shareholders.
Since the listing on the VSE the % of European shareholders on the register has
increased substantially.
The Company has almost completed the initial steps to enable the Company to
consider the transition of its main listing to the VSE by completing the
transformation of the Company's GmbH subsidiary to an AG (similar to the move
from a PTY to an LTD company in Australia).
Recent key developments for the Company have focused on ways to fast-track the
development of the Wolfsberg Lithium Project. In doing so, the company has
developed a strong management team with the appointment of a new German CEO,
Dietrich Wanke and the appointment of an experienced Austrian project director,
Christian Heili. Together with the Company securing a A$10m convertible note
facility to ensure the DFS process, (which is already underway), is now fully
funded. This facility can be cancelled at any time especially if the Company is
successful with any of the current and advanced discussions underway with
several offtake and or strategic partners.
Tony Sage, Chairman, commented "shifting the Company's main listing to the VSE
is the logical next step which will provide greater access to the Company's
shares in these markets by Austrian institutions and private wealth clients,
something that all our key stakeholders have asked for. There is substantial and
growing local interest and support for the Wolfsberg Lithium Project from local
State and Federal governments. This support is essential to enable us to achieve
our goal to be the first lithium supplier into an integrated European battery
supply chain."
The Company will remain listed on the ASX for the foreseeable future. Any
changes that the Board approves will be subject to all the required regulatory
approvals in both countries, including shareholder approval.
Further inquiry note:
Katharina Löckinger
T +43 664 2161125
E info@europeanlithium.com
end of announcement euro adhoc
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issuer: European Lithium Limited
32 Harrogate Street
A-WA6007 West Leederville
phone:
FAX:
mail: katharina.loeckinger@europeanlithium.com
WWW: www.europeanlithium.com
ISIN: AU000000EUR7
indexes:
stockmarkets: Wien, Frankfurt
language: English
