European Lithium Sets October 22 Shareholder Vote as Takeover and Portfolio Moves Converge

European Lithium schedules October 22 shareholder and option holder meetings on its $835 million acquisition by Critical Metals Corp.

European Lithium has entered the home stretch of its corporate overhaul, with the Supreme Court of Western Australia formally ordering separate meetings of shareholders and option holders for October 22, 2026, to decide on the company's acquisition by Critical Metals Corp. The scheme booklets governing the vote reached investors roughly a week ago, pushing the transaction into its decisive phase.

The ballot will determine whether the all-scrip deal — reported to carry a headline value of $835 million — proceeds to completion. An independent expert's assessment, included in the dispatched documents, labeled the offer "not fair, but reasonable," a verdict that coincided with a period of consolidation in the share price. Should the resolution pass and court approvals follow without delay, the transaction is expected to close in November 2026. Under the proposed structure, existing European Lithium holders would emerge with a 41 percent stake in the combined entity.

Balance Sheet and the Accounting Effect That Dominated FY2026

Alongside the merger timetable, European Lithium used the end of the trading week to lodge its full annual report for the financial year ended June 30, 2026, together with supplementary corporate governance disclosures, with the Australian Securities Exchange. The filings show liquid funds of A$296.3 million as of the June 30 reporting date.

The bottom line for the year was shaped almost entirely by a non-cash item: the deconsolidation of Critical Metals Corp generated a book gain of A$1.276 billion, an exceptional effect that overshadowed the company's underlying operating performance for the period. Investors are now weighing that paper profit against the group's cash position as the merger vote approaches.

A Broader Resource Footprint

While the takeover process dominates the agenda, European Lithium has also been expanding its presence elsewhere in the raw materials sector. A mandatory disclosure from Helix Resources revealed that European Lithium has built a substantial stake there, holding 10.8 million shares equivalent to 5.61 percent of voting rights. The position broadens the company's portfolio beyond its core lithium assets.

The company also filed an application for the quotation of securities, rounding out a busy stretch of regulatory housekeeping.

Market Snapshot

The stock finished Friday's session at EUR 0.2455, up 171 percent since the start of the year, and trades 17 percent above its 50-day moving average. With the October 22 meetings now formally scheduled, the coming weeks should deliver clarity on whether the Critical Metals Corp. acquisition clears its final hurdle.