European Lithium Locks In October 22 Ballot and October 26 Court Date for Critical Metals Takeover

European Lithium has pinned down the final formal steps in its path to being absorbed by Nasdaq-listed Critical Metals Corp. (NASDAQ:CRML), with security holders set to vote on 22 October 2026 and the Supreme Court of Western Australia scheduled to review the arrangements two days later.

The transaction would hand Critical Metals 100% of European Lithium's (ASX:EUR) issued shares along with every listed option, executed through two separate scheme-of-arrangement processes. Each constituency must approve the plans on its own.

Voting logistics and the road to a binding order

The shareholder meeting convenes at 10:30 AWST on 22 October, with the optionholder gathering following at 11:00 AWST — or immediately after the shareholder session wraps up. Documentation for the ballot was dispatched roughly a month ago. The Supreme Court then hears the application for approval of both schemes at a second hearing from 10:00 AWST on 26 October 2026, the ruling that would make the acquisition legally binding.

Conditions ticked off, expert stance unchanged

Progress on the execution conditions has been steady. European Lithium confirmed that the contractual minimum cash balance requirement is currently satisfied, and the so-called Millstone condition has also been met. The appointed independent expert has left its conclusion on the merger untouched — neither revised nor withdrawn — after word of adjustments to the merger agreement emerged about three weeks earlier. Regulatory clearance under Section 3(a)(10) of the US Securities Act remains part of the checklist, and the company has separately reported a completed buyback alongside a fresh securities listing.

Market momentum and the numbers behind it

Investors have had a strong run. The stock has gained 159% so far this year, and on Monday it changed hands at EUR 0.2350, up 0.6% on the day. Friday's close came in at EUR 0.2335, with the year-to-date advance at 158% and a market capitalisation of roughly EUR 415.07 million. A listing application for securities trading was filed on 12 October.

Whether the full integration into Critical Metals Corp. goes through now hinges on the holder vote, followed by the court's blessing in the coming week.