European Lithium (ASX:EUR) completed its on-market share buy-back on 31 March 2026.
The critical mineral explorer and developer reveals stock prices inaccurately reflected the business’ true value. This is why the board of directors approved repurchasing them at a discount before 31 March 2026.
“The board believes the company’s current share price does not reflect the underlying value of the company’s assets and as such has determined to in effect continue the buy-back,” Executive Chairman Tony Sage says.
“The board believes this is a fantastic opportunity to buy shares back at a significant discount and add value to our remaining shares on issue.”
The acquisition was well received and the board now plans to carry out a new on-market share buy-back for the six months ending on 15 October.
The latest deal is well within the “10/12 limit” for companies to repurchase up to 10% of their “smallest voting share volumes” within a 12-month period. This means shareholder approval is not necessary according to the Corporations Act 2001.
European Lithium is still deciding how many shares to buy back and when the transaction will take place. Volume and timing will depend on the share price and market conditions.
The company has appointed Evolution Capital as the share buyback broker.
European Lithium is a critical mineral producer with assets mostly based in Austria.
Write to Richard Szabo at Mining.com.au
Images: European Lithium
