European Metals Holdings EMH Raises Approx $4 Million Via Subscription

European Metals Holdings Ltd (LON:EMH) has today announced a capital raising of GBP 2,281,000 (approximately AUD 4 million – before costs) via subscriptions to predominantly UK based sophisticated investors.

The raising has been completed at a price of 35p or 61.5 cents and will be placed using the Company’s capacity under Listing Rule 7.1.

Shard Capital Partners LLP arranged the majority of the subscriptions.

The funds will be used to advance the on-going definitive feasibility on the Cinovec deposit, Europe’s largest lithium resource, and for general working capital.

Managing Director Keith Coughlan said “these funds will be used to continue the extensive works that are on-going with regards to the definitive feasibility study for Cinovec. With metallurgical optimisation work almost complete, mine design commenced and offtake discussions progressing, it is a very busy time for the Company whose licences are located in the heart of the European EV revolution”.

The Placing

Application will be made for the Placing Shares to be admitted to trading on AIM with admission expected to take place on or around 14 December 2017. The Placing Shares will, when issued, rank pari passuin all respects with the existing ordinary shares in EMH.

 

Total Voting Rights

Following the issue of the up to 6,517,143 new Ordinary Shares, the total number of Ordinary Shares in issue with voting rights will be up to 138,314,728. 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.

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Facebook
    Twitter
    LinkedIn
    DirectorsTalk

    More articles like this

    European Metals Holdings Ltd

    Lithium-ion batteries rising as new pillar of Korea’s exports

    Amid concerns about an anticipated slowdown in South Korea’s semiconductor exports this year, lithium-ion batteries for electric vehicles are emerging as a new pillar that will prop up the export-driven economy, said industry officials Monday. According

    European Metals Holdings Ltd

    Lithium-ion battery usage on the rise

    The demand for lithium-ion batteries continues to increase, driven by the growth in hybrid and electric vehicle (xEV) production and the use of lithium-ion batteries in energy storage systems (ESS), according to a report by metals,

    European Metals Holdings Ltd

    Premier Inn unveils UK’s first battery powered hotel

    The UK’s first battery-powered hotel is now operational in Scotland. The Gyle Premier Inn in Edinburgh is trialling a new 100kW lithium-ion battery supplied and installed by E.ON at its 200-room site in a bid to

    European Metals Holdings Ltd

    Electric vehicle manufacturing in China drives metal demand

    As the world’s largest country by population and second-largest economy, China is embarking on a dedicated effort to become a leader in the emerging electric vehicle market. Hundreds of manufacturing firms in China seek to take

    European Metals Holdings Ltd

    Big on batteries: government finally seizes on lithium-ion potential

    The federal government wants to seize a “once-in-a-generation opportunity” to position Australia as a world leader in the rapidly developing lithium-ion battery manufacturing sector. Releasing a new strategy document from Austrade on Tuesday, the investment minister,

    European Metals Holdings Ltd

    What really powers your smartphone and electric car

    The rechargeable lithium-ion battery helps define our era. It powers our smartphones and electric cars, and promises a future where we’re better able to store renewable energy. It also requires lithium and cobalt, minerals that some of the

    European Metals Holdings Ltd

    Companies line up plans for lithium-ion batteries production

    Over a dozen companies ranging from auto component manufacturers to power and energy solutions providers including ExideNSE -0.97 %, Exicom, Amaron, Greenfuel Energy Solutions, Trontek, Coslight India, Napino Auto & Electronics, Amara Raja BatteriesNSE -0.84 %,

    European Metals Holdings Ltd

    China: EVs to boost lithium-ion battery market

    It is anticipated that the Chinese lithium-ion battery market size will increase at a positive double digit CAGR during the period 2017-2022. The demand for lithium-ion batteries in China is expected to grow at a rapid