EQS-News: Vulcan Energy Resources Limited / Key word(s): Miscellaneous
ASX Release 5 October 2022
Issued Capital: 143,335,301 Market Cap (@$7.85): $1.125b
Change of Financial Year End to 31 December and AGM and Director Nomination Dates
Vulcan Energy Resources Limited (Vulcan; ASX: VUL, FSE: VUL, the Company) has resolved at its latest board meeting to change its financial year end from 30 June to 31 December, effective from 1 July 2022. The change of financial year end will align Vulcan with the German financial year, following the Company’s listing on the regulated market of the Frankfurt Stock Exchange (FSE), in the Prime Standard market segment.
Vulcan was the first Australian company to successfully dual list on the FSE in February 2022, an important step in expanding Vulcan’s European investor base and international exposure, and reflective of the Company’s focus on developing its European renewable energy and Zero Carbon Lithium™ business. In line with this strategy, Vulcan has also been reporting in Euros since 1 July 2021.
Consistent with its current financial year reporting requirements, Vulcan lodged its annual financial report for the financial year ended 30 June 2022 on 28 September 2022. The report is available on the Company’s website at http://v-er.eu.
Vulcan will have a shorter, six month transitional financial year from 1 July 2022 to 31 December 2022, before reverting to a twelve month financial year, the first of which will commence on 1 January 2023. Vulcan will prepare a financial report covering the six-month, transitional financial year from 1 July 2022 to 31 December 2022. This report will be released in March 2023. Thereafter, the Company’s annual financial reports will be prepared for a twelve month period from 1 January to 31 December each year.
The Company will hold its Annual General Meeting (AGM), in respect of the financial year ended 30 June 2022, on 29 November 2022. Vulcan will hold a further AGM in respect of the transitional financial year from 1 July 2022 to 31 December 2022, in May 2023. The date of the subsequent AGM, together with 2023 reporting dates, will be advised to the market in due course.
In addition, the Company advises that in accordance with ASX Listing Rule 3.13.1, clause 14.3 of its Constitution and based on the intended date for the 2022 AGM of 29 November 2022, the closing date for the receipt of nominations from persons wishing to be considered for election as a director at the AGM is 18 October 2022. Any nominations must be received in writing no later than 5.00pm (WST) on 18 October 2022 at the Company’s registered office.
Shareholders will shortly be advised of further details regarding the AGM via the Notice of Meeting, which will be available on the ASX Company Announcements Platform and Vulcan’s website at http://v-er.eu.
Founded in 2018, Vulcan’s unique Zero Carbon Lithium™ Project aims to decarbonise lithium production, through developing the world’s first carbon neutral, zero fossil fuels business, with the co-production of renewable geothermal energy on a mass scale. By adapting existing technologies to efficiently extract lithium from geothermal brine, Vulcan is aiming to deliver a local source of sustainable lithium for Europe, built around a net zero carbon strategy with a strict exclusion of fossil fuels. Already an operational renewable energy producer, Vulcan will also provide renewable electricity and heat to local communities.
Vulcan’s combined geothermal energy and lithium resource is the largest in Europe, with license areas in the Upper Rhine Valley, Germany, and in Italy. Strategically placed in the heart of the European electric vehicle market to decarbonise the supply chain, Vulcan is rapidly advancing the Zero Carbon Lithium™ Project to ensure timely market entry, with the ability to expand to meet the unprecedented demand that is building in the European markets.
Guided by our Values of Integrity, Leadership, Future-focused and Sustainability, and united by a passion for environmentalism and leveraging scientific solutions, Vulcan has a unique, world-leading scientific and commercial team in the fields of lithium chemicals and geothermal renewable energy. Vulcan is committed to partnering with organisations who share its decarbonisation ambitions and has binding lithium offtake agreements with some of the largest cathode, battery and automakers in the world. As a motivated disruptor, Vulcan will leverage its expert multidisciplinary team, leading geothermal technology and position in the European EV supply chain to be global leaders in the production of zero fossil fuel, carbon neutral lithium, while being nature positive. Vulcan aims to be the largest, most preferred, strategic supplier of lithium chemicals and renewable power and heating from Europe, for Europe; to empower a net zero carbon future.
Managing Director Dr. Francis Wedin
Chairman Gavin Rezos
Non-Executive Director Ranya Alkadamani
For and on behalf of the Board
Daniel Tydde | Company Secretary
Media and Investor Relations contact
Mareike Inhoff, Media Relations (Germany) | email@example.com | 0721 4807 02 39 / 0171 711 3860
Jessica Bukowski, PR & IR Manager| firstname.lastname@example.org | +61 (0) 420 528 355
Please contact Vulcan’s Legal Counsel Germany, Dr Meinhard Grodde, for matters relating to the Frankfurt Stock Exchange listing on email@example.com.
September Quarterly Activities and Cashflow Reports 27 October 2022
Some of the statements appearing in this announcement may be in the nature of forward-looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industries in which Vulcan operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement. No forward-looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside Vulcan’s control.
Vulcan does not undertake any obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Vulcan, its Directors, employees, advisors or agents, nor any other person, accepts any liability for any loss arising from the use of the information contained in this announcement. You are cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements in this announcement reflect views held only as at the date of this announcement.
This announcement is not an offer, invitation or recommendation to subscribe for, or purchase securities by Vulcan. Nor does this announcement constitute investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis of making an investment decision. Investors should obtain their own advice before making any investment decision.
Competent Person Statement:
The information in this report that relates to Mineral Resources and Ore Reserves (respectively) of the Company's Zero Carbon LithiumTM is extracted from the ASX announcements made by Vulcan on 15 December 2020 ("Updated Ortenau Indicated and Inferred Resource") and 15 January 2021 ("Positive Pre-Feasibility Study"), which are available on www.v-er.eu. The information in this report that relates to Insheim's Mineral Resources is extracted from the ASX announcement made by Vulcan on 20 January 2020 ("Maiden Indicated Resource Insheim Vulcan Zero Carbon Lithium"), which is available on www.v-er.eu. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.
05.10.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS - a service of EQS Group AG.
Vulcan Energy Resources Limited
Level 11, Brookfield Place, 125 St Georges Terrace
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:
End of News
EQS News Service