DGAP-Adhoc: Vulcan Energy Resources Limited: Stellantis to become substantial shareholder in Vulcan Energy through €50 million (AUS$ 76 million) equity investment
DGAP-Ad-hoc: Vulcan Energy Resources Limited / Key word(s): Investment/Capital Increase
Vulcan Energy Resources Limited: Stellantis to become substantial shareholder in Vulcan Energy through €50 million (AUS$ 76 million) equity investment
23-Jun-2022 / 19:01 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Stellantis to become substantial shareholder in Vulcan Energy through €50 million (AUS$ 76 million) equity investment
Vulcan Energy Resources Limited (Vulcan; ASX: VUL, FSE: VUL) has today agreed a €50 million (A$76 million) equity investment from Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA, Stellantis) pursuant to a resolution of the Board of Directors.
Stellantis will become the second largest shareholder in Vulcan, at 8% shareholding, following issue of the fully paid ordinary shares at the 30-day Volume Weighted Average Price (VWAP) of €4.367 (A$6.622) per share which represents ~11.450m shares.
Vulcan and Stellantis have also extended their binding lithium hydroxide offtake agreement, concluded on 29 November 2021, by five years, to 2035.
Stellantis is one of the world’s leading automakers and mobility providers. Vulcan understands that this represents the world’s first upstream investment in a listed lithium company by an international automaker.
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1382637 23-Jun-2022 CET/CEST