European Lithium Enters Option Exercise Underwriting Agreement for Listed Options, Shares Up 5%

MT Newswires Live2025-11-12

European Lithium (ASX:EUR) entered into an option exercise underwriting agreement with Evolution Capital to underwrite the exercise of listed options, which are exercisable at AU$0.08 apiece and expire on Friday, Nov. 14, according to a Wednesday Australian bourse filing.

Evolution will underwrite the exercise of all listed options which remain unexercised as of Friday by subscribing for the number of shares equal to the nonexercised options, or shortfall shares. The current number of non-exercised listed options totals 35,078,124, representing an underwriting amount of up to AU$2.8 million.

It plans to issue shortfall shares under the underwriting agreement on Nov. 19.

The firm also plans to seek shareholder approval at its annual general meeting, scheduled for Nov. 26, for the issue of options to the holders of EURO options who have not exercised their options before the expiry date, with a registered address in Australia and New Zealand. The registered holders can apply for one option for each EURO option at an issue price of AU$0.002 per new option exercisable at AU$0.08 on or before Dec. 31, 2026.

Its shares rose 5% in recent trading on Wednesday.

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