Sign up Australia
Proactive Investors - Run By Investors For Investors

Lithium Australia NL outlines key date in takeover bid

The new entity would hold one of the largest lithium portfolios in the world.
Lithium Australia NL outlines key date in takeover bid
LIT has entered into agreements with Lepidico shareholders

Lithium Australia NL (ASX:LIT) has advised that the date set by the company for the purpose of determining the Lepidico (ASX:LPD) shareholders to whom the Bidder’s Statement will be sent is 3 March 2017.

LIT recently outlined a conditional off-market scrip bid of A$23.8 million for all of the fully paid shares in Lepidico.

The basis of the offer will be one LIT share for every 13.25 Lepidico shares.

LIT wholly-owns the Sileach™ and LieNa™ processes.

The new entity would be the holder of one of the largest lithium exploration and development portfolios in the world.


Driven by rising demand from new era Li-ion battery manufacturers, the combined entities would be able to offer a wide range of lithium technology solutions to match specific lithium deposits.

A combined group would be able to offer both Sileach™ and L-Max in the world’s most active jurisdiction for lithium, Western Australia, and be able to optimise emerging commercial opportunities for lithium projects worldwide.

Register here to be notified of future LIT Company articles
View full LIT profile

Lithium Australia NL Timeline

Related Articles

November 09 2016
The commercials remain broadly similar to the original agreement to bring together the projects, which are next to each other and are effectively component parts of the same deposit.
November 17 2016
All diamond drill holes have intercepted high-grade spodumene mineralisation.
October 21 2016
All drill results are expected to be included in the company’s maiden JORC resource.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use