Kiran Morzaria of Cadence explains the benefits of selling their stakes in Lithium Technologies & Lithium Supplies

Justin Waite
Vox Markets Podcast
10:00, 30th March 2022

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Kiran Morzaria CEO of Cadence #KDNC FOLLOW explains the rationale and benefits of selling their equity stakes in Lithium Technologies and Lithium Supplies which means they would receive up to A$6.63 million (£3.72 million) payable via a mixture of cash and shares.

Highlights

• Cadence and all LT and LS shareholders have entered into a conditional agreement to sell 100% of LT and LS for up to A$21.05 million (£11.82 million)

• Cadence owns 31.5% of LT and LS and would receive up to A$6.63 million (£3.72 million)

• The consideration payable to LT and LS shareholders will be via a mixture of cash and shares

• The Buyer will spend a minimum of A$4 million over three years from the completion of the sale on the exploration of the Litchfield lithium prospect ("Litchfield") in Northern Australia.

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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