Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>I tally 21 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.</li>
<li>Three new deal was discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/atlas-arteria-ltd" target="_blank" data-smartkarma-citation="entities:14430:1" rel="noopener">Atlas Arteria (ALX AU)</a>, <a href="https://www.smartkarma.com/entities/european-lithium-ltd" target="_blank" data-smartkarma-citation="entities:10716:1" rel="noopener">European Lithium (EUR AU)</a>, and <a href="https://www.smartkarma.com/entities/ooh-media-ltd" target="_blank" data-smartkarma-citation="entities:8662:1" rel="noopener">oOh!Media Ltd (OML AU)</a>.</li>
<li>Key updates/news also took place on: <a href="https://www.smartkarma.com/entities/humm-group" target="_blank" data-smartkarma-citation="entities:35366:1" rel="noopener">Humm Group (HUM AU)</a>, <a href="https://www.smartkarma.com/entities/enn-energy-holdings-ltd" target="_blank" data-smartkarma-citation="entities:316:1" rel="noopener">ENN Energy (2688 HK)</a>, <a href="https://www.smartkarma.com/entities/makino-milling-machine-co" target="_blank" data-smartkarma-citation="entities:5200:1" rel="noopener">Makino Milling Machine Co (6135 JP)</a>, and <a href="https://www.smartkarma.com/entities/sankei-real-estate-inc" target="_blank" data-smartkarma-citation="entities:35239:1" rel="noopener">Sankei Real Estate (2972 JP)</a><a href="https://www.smartkarma.com/entities/sankei-real-estate-inc" target="_blank" data-smartkarma-citation="entities:35239:1" rel="noopener"></a>.</li>
</ul>


I tally 21 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.
Three new deal was discussed on Smartkarma this week: Atlas Arteria (ALX AU), European Lithium (EUR AU), and oOh!Media Ltd (OML AU).
Key updates/news also took place on: Humm Group (HUM AU), ENN Energy (2688 HK), Makino Milling Machine Co (6135 JP), and Sankei Real Estate (2972 JP).


Asia-Pac M&A Weekly Wrap: Atlas Arteria, European Lithium, OOh!Media Ltd, ENN Energy, Makino Milling

<ul>
<li>
<a href="https://www.smartkarma.com/entities/denso-corp" target="_blank" data-smartkarma-citation="entities:18703:1" rel="noopener">Denso (6902 JP)</a> is a "value trade". <a href="https://www.smartkarma.com/entities/aisin-corp" target="_blank" data-smartkarma-citation="entities:11809:1" rel="noopener">Aisin (7259 JP)</a>'s also great value, but doesn't have disappointing Mar27e guidance. It also has a buyback to come after the tender-offer buyback.</li>
<li>IFM has abandoned its creep approach and launched an off-market Offer for <a href="https://www.smartkarma.com/entities/atlas-arteria-ltd" target="_blank" data-smartkarma-citation="entities:14430:1" rel="noopener">Atlas Arteria (ALX AU)</a>.
</li>
<li>Irrespective of the recent H-share placement, <a href="https://www.smartkarma.com/entities/contemporary-amperex-technology-catl-co-limited" target="_blank" data-smartkarma-citation="entities:45179:1" rel="noopener">Contemporary Amperex Technology (CATL) (3750 HK)</a> (CATL) continues to boast a high concentration of shareholders post-placement.</li>
</ul>



Denso (6902 JP) is a "value trade". Aisin (7259 JP)'s also great value, but doesn't have disappointing Mar27e guidance. It also has a buyback to come after the tender-offer buyback.
IFM has abandoned its creep approach and launched an off-market Offer for Atlas Arteria (ALX AU).

Irrespective of the recent H-share placement, Contemporary Amperex Technology (CATL) (3750 HK) (CATL) continues to boast a high concentration of shareholders post-placement.


Last Week In Event SPACE: Denso / Aisin, CATL, CK Hutchison

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/european-lithium-ltd" target="_blank" data-smartkarma-citation="entities:10716:1" rel="noopener">European Lithium (EUR AU)</a> disclosed a non-binding proposal from <a href="https://www.smartkarma.com/entities/critical-metals-corp" target="_blank" data-smartkarma-citation="entities:48829:1" rel="noopener">Critical Metals (CRML US)</a> at 0.035 CRML shares per EUR share, worth A$0.58, a 104% premium to the undisturbed price. </li>
<li>The proposal could be viewed as a two-year-long and convoluted method for EUR to transfer its listing to the US, albeit with a stronger balance sheet.  </li>
<li>A binding scheme implementation deed is expected by 7 May. The lack of substantial shareholders in EUR and a strategically sensible deal lowers the scheme’s voting risk.  </li>
</ul>



European Lithium (EUR AU) disclosed a non-binding proposal from Critical Metals (CRML US) at 0.035 CRML shares per EUR share, worth A$0.58, a 104% premium to the undisturbed price. 
The proposal could be viewed as a two-year-long and convoluted method for EUR to transfer its listing to the US, albeit with a stronger balance sheet.  
A binding scheme implementation deed is expected by 7 May. The lack of substantial shareholders in EUR and a strategically sensible deal lowers the scheme’s voting risk.  


European Lithium (EUR AU): Coming Full Circle with Critical Metals’ All-Scrip Proposal

<ul>
<li>
<a href="https://www.smartkarma.com/entities/european-lithium-ltd" target="_blank" data-smartkarma-citation="entities:10716:1" rel="noopener">European Lithium (EUR AU)</a>'s ~34.4% held <a href="https://www.smartkarma.com/entities/critical-metals-corp" target="_blank" data-smartkarma-citation="entities:48829:1" rel="noopener">Critical Metals (CRML US)</a> has announced a non-binding reverse takeover via a Scheme scrip deal.</li>
<li>CRML intends to issue 0.035 new CRML shares for each EUR share. The implied value per CRML scrip is A$0.58/share. EUR shareholders will hold ~45% of the combined entity.</li>
<li>A completed merger sees 100% of Tanbreez Rare Earth project under one roof. Exclusive due diligence to run until around the 7th May. EUR is up 53% as I type.</li>
</ul>



European Lithium (EUR AU)'s ~34.4% held Critical Metals (CRML US) has announced a non-binding reverse takeover via a Scheme scrip deal.
CRML intends to issue 0.035 new CRML shares for each EUR share. The implied value per CRML scrip is A$0.58/share. EUR shareholders will hold ~45% of the combined entity.
A completed merger sees 100% of Tanbreez Rare Earth project under one roof. Exclusive due diligence to run until around the 7th May. EUR is up 53% as I type.


European Lithium (EUR AU): Critical Metals (CRML US) Firms Reverse Takeover

<ul>
<li>
<a href="https://www.smartkarma.com/entities/european-lithium-ltd" target="_blank" data-smartkarma-citation="entities:10716:1" rel="noopener">European Lithium (EUR AU)</a>, which holds a (estimated) ~34.4% stake in <a href="https://www.smartkarma.com/entities/critical-metals-corp" target="_blank" data-smartkarma-citation="entities:48829:1" rel="noopener">Critical Metals (CRML US)</a>, the mining operator of projects in Austria, Greenland, and Ireland, is currently suspended.</li>
<li>The rumour mill suggest CRML will make an offer for its parent. CRML recently received government approval to control 92% of the Tanbreez rare earths project in Greenland</li>
<li>Those same rumours are indicating a A$0.58/share, or a 104% premium to European Lithium's last close. </li>
</ul>



European Lithium (EUR AU), which holds a (estimated) ~34.4% stake in Critical Metals (CRML US), the mining operator of projects in Austria, Greenland, and Ireland, is currently suspended.
The rumour mill suggest CRML will make an offer for its parent. CRML recently received government approval to control 92% of the Tanbreez rare earths project in Greenland
Those same rumours are indicating a A$0.58/share, or a 104% premium to European Lithium's last close. 


European Lithium (EUR AU): Reverse Takeover?

United States

Critical Metals Corp operates as a metal mining company. The Company specializes in the secure and sustainable supply of lithium metals and minerals. Critical Metals serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Critical Metals (CRML US)

Asia-Pac M&A Weekly Wrap: Atlas Arteria, European Lithium, OOh!Media Ltd, ENN Energy, Makino Milling

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Last Week In Event SPACE: Denso / Aisin, CATL, CK Hutchison

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

European Lithium (EUR AU): Coming Full Circle with Critical Metals’ All-Scrip Proposal

A binding scheme implementation deed is expected by 7 May. The lack of substantial shareholders in EUR and a strategically sensible deal lowers the...

Arun George

European Lithium (EUR AU): Critical Metals (CRML US) Firms Reverse Takeover

Clean, if not unorthodox, deal. If small, somewhat illiquid arbs are your bag, I might simply go outright long in EUR, to capture the holding...

David Blennerhassett

European Lithium (EUR AU): Reverse Takeover?

Reportedly rare-earth play European Lithium (EUR AU) is set to receive an Offer from 34.4%-held Critical Metals (CRML US),

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)