IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

European Lithium (EUR AU): CRML’s Revised Cap-And-Floor Exchange Ratio

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

European Lithium (EUR AU): CRML’s Binding Proposal Remains Light

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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.

Event-Driven

<ul>
<li>The <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> IE considers that <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>’s scheme offer is NOT fair but reasonable. At preferred values, the consideration is 9% below the assessed value.</li>
<li>For the deal to be fair, the CRML 20-day VWAP used to determine the exchange ratio would need to be between US$7.86 and US$8.81 per share (CRML's close was US$6.46).</li>
<li>Despite the IE’s opinion, the scheme vote should pass as the sole substantial shareholder is not an activist and no disinterested shareholder holds a blocking stake. </li>
</ul>


The European Lithium (EUR AU) IE considers that Critical Metals (CRML US)’s scheme offer is NOT fair but reasonable. At preferred values, the consideration is 9% below the assessed value.
For the deal to be fair, the CRML 20-day VWAP used to determine the exchange ratio would need to be between US$7.86 and US$8.81 per share (CRML's close was US$6.46).
Despite the IE’s opinion, the scheme vote should pass as the sole substantial shareholder is not an activist and no disinterested shareholder holds a blocking stake. 


European Lithium (EUR AU): IE Opines Not Fair but Reasonable; Scheme Vote on 22 October