Annexe 1 - European Metals Holdings Limited
ANNONCE À FAIRE PAR LE DEMANDEUR AIM AVANT L'ADMISSION CONFORMÉMENT À LA RÈGLE 2 DU RÈGLEMENT AIM POUR LES ENTREPRISES (« RÈGLEMENT AIM ») | ||||||||||||||||||||||||||||||||||||||||
NOM DE LA COMPAGNIE: | ||||||||||||||||||||||||||||||||||||||||
European Metals Holdings Limited ("European Metals" or the "Company")
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ADRESSE DU SIEGE SOCIAL DE LA SOCIETE ET SI DIFFERENTE, ADRESSE COMMERCIALE DE LA SOCIETE (Y COMPRIS LES CODES POSTAUX) : | ||||||||||||||||||||||||||||||||||||||||
Courant:
c/o Rawlinson & Hunter Limited, Woodbourne Hall, Romasco Place, PO Box 3162, Road Town, VG1110, VG Îles Vierges britanniques
Proposé :
Rez-de-chaussée, 41, rue Colin West Perth, Western Australia, 6005
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PAYS DE CONSTITUTION: | ||||||||||||||||||||||||||||||||||||||||
Current: British Virgin Islands
Proposed: Australia
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ADRESSE DU SITE WEB DE L'ENTREPRISE CONTENANT TOUTES LES INFORMATIONS REQUISES PAR LA RÈGLE AIM 26 : | ||||||||||||||||||||||||||||||||||||||||
www.europeanmet.com
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ACTIVITÉ DE LA SOCIÉTÉ (Y COMPRIS PRINCIPAL PAYS D'OPÉRATION) OU, DANS LE CAS D'UNE SOCIETE D'INVESTISSEMENT, DÉTAILS DE SES POLITIQUE D'INVESTISSEMENT). SI LA ADMISSION EST RECHERCHÉ À LA SUITE D'UNE PRISE DE CONTRLE INVERSÉE EN VERTU DE LA RÈGLE 14, CECI DOIT ÊTRE DÉCLARÉ : | ||||||||||||||||||||||||||||||||||||||||
European Metals is a mineral exploration and development company advancing the Cinovec vertically integrated battery metals project in Czech Republic.
Geomet s.r.o. controls the mineral exploration licenses awarded by the Czech State over the Cinovec Lithium Project. Geomet has been granted a preliminary mining permit by the Ministry of Environment and the Ministry of Industry. The company is owned 49% by European Metals and 51% by CEZ a.s. through its wholly owned subsidiary, Severočeské doly a.s.
The Cinovec Lithium Project hosts a hard rock lithium deposit with a total Measured Mineral Resource of 53.3Mt at 0.48% Li2O, ressources minérales indiquées de 360.2 Mt à 0.44 % Li2O et une ressource minérale présumée de 294.7 Mt à 0.39 % Li2O containing a combined 7.39 million tonnes Lithium Carbonate Equivalent, as announced by European Metals on 13 October 2021
European Metals is seeking re-admission to AIM in accordance with AIM Rule 27 following a re-domiciliation from the British Virgin Islands to Australia, to be completed on the date of re-admission. A re-domiciliation of this type does not change the corporate structure of European Metals but simply changes the jurisdiction in which the company is registered and incorporated (maintaining its original legal identity).
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DÉTAILS DES TITRES À ADMETTRE, Y COMPRIS TOUT RESTRICTIONS RELATIVES AU TRANSFERT DES TITRES (c'est-à-dire lorsqu'ils sont connus, nombre et nature des actions, valeur nominale et prix d'émission auxquels il demande l'admission et le nombre et la nature des actions propres) : | ||||||||||||||||||||||||||||||||||||||||
207,444,705 ordinary shares of no par value ("Ordinary Shares") held via Chess Depository Interests ("CDIs") and Depository Interests ("DIs")
Il n'y a pas de restrictions sur le transfert de titres à admettre.
Il n'y a pas d'actions auto-détenues.
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CAPITAL A LEVER A L'ADMISSION (ET/OU OFFRE SECONDAIRE) ET CAPITALISATION MARCHANDE ANTICIPEE A L'ADMISSION : | ||||||||||||||||||||||||||||||||||||||||
No capital to be raised on re-admission.
Anticipated market capitalisation on re-admission: £28.5 million
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POURCENTAGE DES TITRES AIM PAS EN MAINS PUBLIQUES À L'ADMISSION: | ||||||||||||||||||||||||||||||||||||||||
8.90%
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DÉTAILS DE TOUTE AUTRE PLATEFORME D'ÉCHANGE OU DE COMMERCE AUXQUELS LES TITRES AIM (OU D'AUTRES TITRES DE LA SOCIETE) SONT OU SERONT ADMIS OU NEGOCIES : | ||||||||||||||||||||||||||||||||||||||||
The Company is listed on the Australian Securities Exchange (ASX:EMH), on AIM, a market operated by the London Stock Exchange (AIM: EMH) and the OTCQX Best Market Program (OTCQX: EMHXY, ERPNF and EMHLF).
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LA SOCIÉTÉ A DEMANDÉ LE DÉSIGNATION VOLONTAIRE DU MARCHÉ DU CARBONE (O/N) | ||||||||||||||||||||||||||||||||||||||||
Non
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NOMS COMPLETS ET FONCTIONS DE DIRECTEURS ET ADMINISTRATEURS PROPOSÉS (en soulignant le prénom sous lequel chacun est connu ou incluant tout autre nom sous lequel chacun est connu) : | ||||||||||||||||||||||||||||||||||||||||
Keith Dudley Coughlan - Executive Chairman Richard Pavlik - Executive Director Kiran Caldas Morzaria - Non-Executive Director Lincoln Palmer Bloomfield, Jr. - Non-Executive Director
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NOMS COMPLETS ET EXPLOITATIONS DE ACTIONNAIRES IMPORTANTS EXPRIMÉ EN POURCENTAGE DU CAPITAL SOCIAL ÉMIS, AVANT ET APRES ADMISSION (en soulignant le prénom sous lequel chacun est connu ou incluant tout autre nom sous lequel chacun est connu) : | ||||||||||||||||||||||||||||||||||||||||
Significant shareholders before and after re-admission:
*Group total consisted of:
**A portion of Cadence Minerals plc holdings is held under BNP Paribas Nominees and included in BNP Paribas Nominees total.
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NOMS DE TOUTES LES PERSONNES À DIVULGUER CONFORMÉMENT À L'ANNEXE 2, PARAGRAPHE (H) DU RÈGLEMENT DE L'AIM : | ||||||||||||||||||||||||||||||||||||||||
N/D
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(i) DATE DE RÉFÉRENCE COMPTABLE PRÉVUE (ii) DATE À LAQUELLE LE PRINCIPALES INFORMATIONS FINANCIÈRES DANS LE DOCUMENT D'ADMISSION A ÉTÉ PRÉPARÉ (cela peut être représenté par des informations financières intermédiaires non auditées) (iii) DATES AUXQUELLES IL DOIT PUBLIE SES TROIS PREMIERS RAPPORTS CONFORMÉMENT AUX RÈGLES 18 ET 19 DE L'AIM : | ||||||||||||||||||||||||||||||||||||||||
i) 30 June ii) Not applicable - existing issuer re-admitting to AIM iii) Annual report to 30 June 2024 - published by 31 December 2024 Half year report to 31 December 2024 - published by 31 March 2025 Annual report to 30 June 2025 - published by 31 December 2025
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DATE D'ADMISSION PREVUE : | ||||||||||||||||||||||||||||||||||||||||
Re-admission expected on 2 May 2024
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NOM ET ADRESSE DU CONSEILLER DÉSIGNÉ : | ||||||||||||||||||||||||||||||||||||||||
WH Irlande Limitée 24, allée Martin London EC4R 0DR
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NOM ET ADRESSE DE BROKER: | ||||||||||||||||||||||||||||||||||||||||
WH Irlande Limitée 24, allée Martin London EC4R 0DR
Panmure Gordon (Royaume-Uni) Limitée 40, rue Gracechurch London EC3V 0BT
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AUTRE QUE DANS LE CAS D'UNE DEMANDEUR CITÉ, DÉTAILS D'O (ADRESSE POSTALE OU INTERNET) LE DOCUMENT D'ADMISSION SERA DISPONIBLE, AVEC UNE DÉCLARATION QU'IL CONTENIR TOUS LES DÉTAILS SUR LE DEMANDEUR ET L'ADMISSION DE SES TITRES : | ||||||||||||||||||||||||||||||||||||||||
Ne s'applique pas. | ||||||||||||||||||||||||||||||||||||||||
LE CODE DE GOUVERNANCE D'ENTREPRISE QUE LE DEMANDEUR A DÉCIDÉ D'APPLIQUER | ||||||||||||||||||||||||||||||||||||||||
The Corporate Governance Principles and Recommendations as published by the ASX Corporate Governance Council | ||||||||||||||||||||||||||||||||||||||||
DATE DE NOTIFICATION : | ||||||||||||||||||||||||||||||||||||||||
4 Avril 2024
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NOUVELLE MISE À JOUR: | ||||||||||||||||||||||||||||||||||||||||
NOUVEAU
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LES DEMANDEURS CITÉS DOIVENT ÉGALEMENT REMPLIR CE QUI SUIT : | ||||||||||||||||||||||||||||||||||||||||
LE NOM DU VISER LE MARCHÉ DÉSIGNÉ APRÈS QUE LES TITRES DU DEMANDEUR ONT ÉTÉ NÉGOCIÉS : | ||||||||||||||||||||||||||||||||||||||||
AIM and ASX
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LA DATE À PARTIR DE LAQUELLE LES TITRES DU DEMANDEUR ONT ÉTÉ NÉGOCIÉS : | ||||||||||||||||||||||||||||||||||||||||
10 Décembre 2015
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CONFIRMATION QUE, SUITE À UNE ENQUÊTE RAISONNÉE ET ATTENTIVE, LE DEMANDEUR A RESPECTÉ TOUTES LES EXIGENCES LÉGALES ET RÉGLEMENTAIRES IMPLIQUÉES À LA NÉGOCIATION DE SES TITRES SUR UN TEL MARCHÉ OU DÉTAILS DES O IL Y A EU UNE VIOLATION: | ||||||||||||||||||||||||||||||||||||||||
Confirmé
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UNE ADRESSE OU UNE ADRESSE DE SITE WEB O SONT DISPONIBLES DES DOCUMENTS OU DES ANNONCES QUE LE DEMANDEUR A RENDUS PUBLICS AU COURS DES DEUX DERNIÈRES ANNÉES (EN CONSÉQUENCE DE LA NÉGOCIATION DE SES TITRES) : | ||||||||||||||||||||||||||||||||||||||||
www.europeanmet.com
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DÉTAILS DE LA STRATÉGIE DU DEMANDEUR SUITE À L'ADMISSION Y COMPRIS, DANS LE CAS D'UNE SOCIÉTÉ D'INVESTISSEMENT, DÉTAILS DE SA STRATÉGIE D'INVESTISSEMENT : | ||||||||||||||||||||||||||||||||||||||||
European Metals intends to create a sustainable European lithium supply chain with a low carbon footprint that is strategically positioned in Europe to supply the world's elective vehicle market with high margin lithium battery chemicals.
The Company intends to utilise local suppliers and employees to create long-term sustainable development and work to minimise the carbon footprint of the Cinovec Battery Metals Project.
European Metals intends to work with end users of battery metals to shorten their supply chain, assure consumers of ESG best practices at every stage, and thereby reduce reliance on overseas battery metals, to enable growth in the green energy market within the European Union.
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UNE DESCRIPTION DE TOUT CHANGEMENT SIGNIFICATIF DE LA SITUATION FINANCIÈRE OU COMMERCIALE DU DEMANDEUR, SURVENU DEPUIS LA FIN DE LA DERNIÈRE PÉRIODE FINANCIÈRE POUR LAQUELLE LES ÉTATS AUDITÉS ONT ÉTÉ PUBLIÉS : | ||||||||||||||||||||||||||||||||||||||||
There has been no significant change in the financial or trading position of the Company since 30 June 2023, being the end of the last financial period for which audited statements have been published, except for the interim results for the six months ended 31 December 2023 (released on 15 March 2024) and certain other developments that have been announced by the Company that are summarised below:
· The interim results for the six months ended 31 December 2023 can be found here: www.europeanmet.com/company-reports/
During the period from 1 July 2023 to Avril 3 2024, the Company made the following material announcements:
· On 21 July 2023, European Metals announced that the European Bank for Reconstruction and Development agreed to invest €6 million to support the Company's development of the Cinovec Project in the Czech Republic.
· On 31 July 2023, the Company released quarterly activities report for the quarter ending June 2023.
· On 29 September 2023, the Company released annual accounts for the year ended 30 June 2023.
· On 29 September 2023, the Company released its Annual Governance Statement.
· On 31 October 2023, the Company released its quarterly activities report for the quarter ending September 2023.
· On 09 November 2023, the Company announced the Successful Battery-Grade pilot programme for Cinovec Lithium Project, confirming the robustness of the Cinovec Lithium Chemical Plant process flowsheet and providing a strong foundation for the execution of the Cinovec Project.
· On 22 December 2023, the Company announced that Cinovec's Definitive Feasibility Study is to be completed in Q1 2024.
· On 29 January 2024, the Company announced an extension to all four Cinovec Exploration Licences.
· On 31 January 2024, the Company announced its quarterly activities report for the quarter ending 31 December 2023.
· On 15 March 2024, the Company announced its interim financial report for the half-year ended 31 December 2023.
· One 27 March 2024, the Company provided an updated on the Cinovec Lithium Project in the Czech Republic.
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UNE DECLARATION QUE LES ADMINISTRATEURS DU REQUERANT N'ONT AUCUNE RAISON DE CROIRE QUE LE FONDS DE ROULEMENT DISPONIBLE POUR ELLE OU SON GROUPE SERA INSUFFISANT PENDANT AU MOINS DOUZE MOIS A COMPTER DE LA DATE DE SON ADMISSION : | ||||||||||||||||||||||||||||||||||||||||
The Directors have no reason to believe that the working capital available to the Company will be insufficient for at least 12 months from the date of Admission.
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DÉTAILS DE TOUTES DISPOSITIONS DE VERROUILLAGE CONFORMÉMENT À LA RÈGLE 7 DES RÈGLES AIM : | ||||||||||||||||||||||||||||||||||||||||
N/D
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BRÈVE DESCRIPTION DES MODALITÉS DE RÈGLEMENT DES TITRES DU DEMANDEUR : | ||||||||||||||||||||||||||||||||||||||||
To be traded on AIM, securities must be able to be transferred and settled through the CREST system, including CDIs and DIs, to be held in electronic rather than in paper form.
The Australian equivalent of this system is called CHESS. Ordinary Shares held through CHESS on the Australian registry may be transferred into DIs held through CREST on the UK depositary registry and vice versa.
Notwithstanding the proposed re-domiciliation, the Ordinary Shares will remain listed and traded on the ASX, with trades settled electronically on the Australian registry through CHESS.
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UNE ADRESSE DE SITE INTERNET DÉTAILLANT LES DROITS RATTACHÉS AUX TITRES DU DEMANDEUR : | ||||||||||||||||||||||||||||||||||||||||
www.europeanmet.com
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INFORMATIONS ÉQUIVALENTES À CELLES REQUISES POUR UN DOCUMENT D'ADMISSION QUI N'EST PAS ACTUELLEMENT PUBLIC : | ||||||||||||||||||||||||||||||||||||||||
Please refer to the Notice of Annual General Meeting, posted to shareholders on 06 December 2023 and available on the Company's website (www.europeanmet.com), for the following details:
· Background to migration of the Company to Australia (the "Migration") · Process of Migration · Advantages of the Migration · Disadvantages of the Migration · La nouvelle constitution · Proportional Takeover Provisions
Information on admission and CREST settlement, the new constitution and some additional information are detailed below.
1. Admission and CREST settlement
Upon completion of the Migration, to reflect that the Ordinary Shares will have become shares in a Australian company rather than a British Virgin Island company:
(a) the ISIN of the DIs in Ordinary Shares will change to AU000000EMH5; and
(b) the SEDOL of the DIs in Ordinary Shares will change to BLNMGR8 .
Application will be made to the London Stock Exchange for 207,444,705 Ordinary Shares to be re-admitted to trading on AIM. It is expected that the re-admission will become effective and that dealings in the Ordinary Shares will re-commence on 2 May 2024.
The last day of dealings in the Ordinary Shares before completion of the Migration is expected to be on 1 May 2024. The last day for registration of transfers of the Ordinary Shares and DIs before completion of the Migration is expected to be on 1 May 2024.
These dates may be deferred if there is any delay to the re-admission to AIM.
On the effective date of the Migration, all existing share certificates representing Ordinary Shares will not be cancelled and will continue to represent Ordinary Shares following the Migration; however, upon a transfer of Ordinary Shares represented by an existing share certificate, a new share certificate in the form adopted by the Company following the Migration will be issued to the transferee.
As a result of the Migration, the DIs over British Virgin Island shares that are currently traded on AIM in London will be DIs over Australian shares, which have a new ISIN and SEDOL. Under the AIM Rules, this requires a re-admission of the Company's shares to trading on AIM, albeit as a "quoted applicant," as defined in Rule 2 of the AIM Rules and, accordingly, the re-admission will not require a full admission document, but rather a Schedule 1 to be submitted to AIM, no less than 20 business days prior to the date of re-admission. The Schedule 1 will be made available on the Company's website. It is not expected that this process will create any further interruption to the normal trading facilities of AIM afforded to Shareholders.
For shareholders who hold their existing Ordinary Shares in electronic form in a CREST account by way of the DIs established by the Company as at close of business on 1 May 2024, they will be replaced by new DIs in the Ordinary Shares (reflecting that European Metals will have become an Australian company) which will be credited to their CREST accounts on 2 May 2024.
However, if a DI holder has a preference under the Migration to receive shares on the Company's Australian share register rather than receive the new Australian DIs, then the following process should be applied:
· A DI holder should submit a CREST withdrawal instruction to convert on a 1:1 basis their BVI DI holding into a holding of CDIs on the Australian register, maintained by the Company's Australian registrar Computershare Investor Services Pty Limited. CDIs can be held on the Australian register through CHESS or in Issuer sponsored form; · the BVI DIs shall then be withdrawn from CREST in the name of holder being registered with the CDIs, and if the CDIs are being delivered to a custody arrangement the Australian custodian shall be advised to accept their delivery; and · when the Migration is effected on the Australian CDI register, all CDIs will be automatically converted to shares.
Alternatively, once the new Australian DIs are issued, a DI holder of the new Australian DIs, if they wish, can request to withdraw the new Australian DIs and convert them on a 1:1 basis into shares on the Australian share register.
The Company will apply for the DIs to be re-admitted to CREST with effect from the re-admission.
2. New Constitution
European Metals will adopt a memorandum of association and new articles of association, referred to as a constitution in Australia (the "New Articles" or "New Constitution") (together the "M&A") upon completion of the Migration, in replacement of the existing articles of incorporation and by-laws (the "Existing Articles").
The New Articles seek to keep the constitution upon Migration generally similar to the constitution pre-Migration and generally only to incorporate those changes required or expected by Australian law, AIM market practice or where European Metals wants to introduce enhanced shareholder rights and protections. The key differences in the New Articles as compared to the Existing Articles are as follows:
(a) a right of shareholders holding at least 5% of the share capital to require a resolution to be put to shareholders at a general meeting along with minimum notice requirements will be included in the New Constitution; (b) the New Constitution will incorporate rights given to European Metals to sell shares that constitute less than a marketable parcel of shares in a class a class of shares, subject to the terms of the New Constitution and the listing rules of ASX; (c) provisions allowing for preference shares to be issued by European Metals at the directors' discretion; (d) restrictions on the offers of shares involving monetary consideration under employee incentive schemes; (e) increasing the minimum number of directors from one to three and placing a cap on the number of directors that can be appointed at any given time to ten; (f) the New Constitution includes the Proportional Takeover Provisions under Australian Law; and (g) certain administrative provisions differ between the Existing Articles and the New Constitution such as the treatment of calls, closure of registers, prohibition on transferring shares to infants and occasions when voting via polls is required.
The New Articles will be made available on the Company's website: www.europeanmet.com
3. Additional Information
a) Directors' service agreements and letters of appointments
The directors' annual salaries are as follows:
Plus bonuses paid in November 2023: Keith Coughlan AUD116,978 Richard Pavlik AUD61,660
Keith Coughlan · 800,000 Class A performance rights - issued 2/3/2022 · 800,000 Class B performance rights - issued 2/3/2022 · 800,000 Class C performance rights - issued 2/3/2022
Richard Pavlik · 400,000 Class A performance rights - issued 2/3/2022 · 400,000 Class B performance rights - issued 2/3/2022 · 400,000 Class C performance rights - issued 2/3/2022
b) Directors' other directorships
In addition to being directors of the Company, the directors have held or hold the following directorships and/or has been/is a partner in the following partnerships within the last five years immediately prior to the date of this document:
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A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR END NOT MORE THEN NINE MONTHS PRIOR TO ADMISSION AND INTERIM RESULTS WHERE APPLICABLE. THE ACCOUNTS MUST BE PREPARED IN ACCORDANCE WITH ACCOUNTING STANDARDS PERMISSIBLE UNDER AIM RULE 19: | ||||||||||||||||||||||||||||||||||||||||
www.europeanmet.com
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LE NOMBRE DE CHAQUE CATÉGORIE DE TITRES DÉTENUS EN TRÉSORERIE : | ||||||||||||||||||||||||||||||||||||||||
Aucun
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