Critical Metals Corp. (Nasdaq: CRML) has confirmed the share entitlement for European Lithium optionholders, with October 29 set as the transaction’s record date and implementation expected November 5.
In its October 28 announcement, the company said eligible option holders will receive 0.0353158621 new Critical Metals shares per option – approximately 35.32 shares for every 1,000 options, subject to rounding.
Holders of 991 or fewer options will instead receive their proportional share of the net proceeds from selling the shares to which they would otherwise be entitled.
The share and option schemes became legally effective October 27. Entitlements are determined at the October 29 record date, set for 4 p.m. Perth time.
New Critical Metals shares are expected to be issued November 5 and begin trading on Nasdaq November 6. European Lithium is also expected to be removed from the Australian Securities Exchange’s official list November 6. The timetable remains subject to change.
Critical Metals is developing the Tanbreez rare earth project in southern Greenland and the Wolfsberg lithium project in Austria.
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