European Metals Holdings Ltd (LON:EMH) Managing Director Keith Coughlan caught up with DirectorsTalk to discuss a very large upgrade to the indicated lithium resource. Keith explains what this means to the company, how the feasibility study is progressing, how they plan to unlock relative value and Keith shares his thoughts on the 3 main reasons why investors should look at European Metals.
European Metals Holdings Ltd advised today that it has issued 5,000,000 new ordinary shares (represented by Chess Depositary interests or “CDI’s”) in the Company in respect of a Placement at AU$0.52 per CDI. The Placement of 5,000,000 CDIs to Rare Earth Minerals plc (LON:REM) was approved by Shareholders at the Annual General Meeting held 18 November 2016. Following the Placement, REM is now interested in 20.76% of EMH.
Application is being made for the new ordinary shares to be admitted to trading on AIM with admission to take place on or around 30 November 2016. The new ordinary Shares will rank pari passu in all respects with the existing ordinary shares in EMH.
Total Voting Rights
Following the issue of the new Ordinary Shares, the total number of Ordinary Shares in issue with voting rights is 129,417,126. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change of interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.”