European Lithium holders approve Critical Metals takeover schemes
Mining
Thursday, October 22, 2026
- Updated Oct 22, 2026 06:51
European Lithium shareholders and optionholders have approved the share and option schemes under which Critical Metals Corp will acquire the company, with 99.96 percent of shareholder votes cast in favour of the share scheme and 100 percent of optionholder votes in favour of the option scheme.
Why it matters: The vote clears the securityholder condition for the all share takeover of the company behind Austria's Koralm lithium project, at the maximum exchange ratio of 0.045 Critical Metals shares per European Lithium share, and leaves approval by the Supreme Court of Western Australia, at a hearing on October 26, as the main remaining gate before implementation on November 5.
Data as of European Lithium ASX announcement, 'Results of the General Meeting and Scheme Meetings,' October 22, 2026, read in full; the poll figures, resolution outcomes and timetable in this story are the company's own as reported to ASX under Listing Rule 3.13.2. The 0.045 exchange ratio is from the company's Share Scheme Transaction Ratio announcement of October 21, 2026. Developing item.
European Lithium said shareholders and optionholders voted in favour of the schemes and the related party resolutions at the general meeting, share scheme meeting and option scheme meeting held in Western Australia on Thursday, and that each scheme resolution was passed by the requisite majorities. On the poll, the share scheme drew 452,707,512 votes in favour and 203,601 against, with 175 shareholders voting in favour and 5 against, while the option scheme drew 198,613,607 votes in favour and none against, with all 62 optionholders voting in favour. All four related party resolutions at the general meeting were also carried.
The schemes still need approval from the Supreme Court of Western Australia at the second court hearing at 10:00am Perth time on Monday, October 26, and the remaining conditions precedent. If the court approves, the company expects the schemes to become effective on Tuesday, October 27, with trading in its shares and options suspended from that day’s close, a record date of October 29, implementation on November 5 and the new Critical Metals shares starting trading on Nasdaq on November 6.
Sources
- Results of the General Meeting and Scheme Meetings - European Lithium Limited, ASX announcement - 2026-10-22