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3.7¢ european lithium limited

Ann: Acquisition of Advanced Lithium Project with Resource-PNE.AX, page-42

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trumpy71

3,167 Posts.

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14/05/16

22:06

Post #: 17769018
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Originally posted by Jezzy ↑

Yes Minoil, Im a bit confused too.
This is a true RTO/backdoor listing, it can't be viewed as an acquisition: even the name will be changed to that of the company reversing into the PNE shell. Nature and scale of activity is also worlds apart from the modest Aussie goldie PNE.

From the Announcement:

NAME CHANGE
As part of the acquisition, the Company will seek the approval of shareholders to change its name to “European Lithium Limited"

CHANGE OF ACTIVITIES
The proposed Acquisition will result in a change in the nature and scale of PNE’s activities and will require shareholder approval under Chapter 11 of the ASX Listing Rules as well as require the Company to re-comply with Chapters 1 and 2 of the ASX Listing Rules.

I thought there was a consultation process still and the new rules regarding new listings would only take effect from September?
Perhaps there's another reason?

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The only lithium these guys will find will be in the 18v ryobi battery the caretaker will use in his cordless drill when he puts the sign up " closed keep out "

EUR Price at posting: 8.3¢ Sentiment: Sell Disclosure: Not Held
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