European Lithium: Launch on-market share buy-back

European Lithium Launch on-market share buy-back

• European Lithium (EUR) is set to undertake a buy-back of up to 100 million shares to “deliver shareholder returns”
• The shares represent 6.7 per cent of what’s on issue for an estimated cost of $6.9 million
• The company believes its current share price does not reflect the underlying value of its assets, the EUR trading at a “significant discount” compared to its peers
• As such, EuropeanLithium says it sees the buyback as a strategic opportunity in its capital management strategy
• EuropeanLithium shares are trading at 5.5 cents at 1:55 pm AEDT