backed by Rich Lister Chris Ellison, have voted to merge with an established copper miner as Australia’s tycoons vie for control of the country’s battery-metal assets.
At the Essential Metal’s shareholders meeting on Wednesday, 78 per cent of investors, representing 93 per cent of the register, voted in favour of the merger. For the deal to pass, 50 per cent of investors, representing 75 per cent of the float, had to back the deal. Heavyweight proxy advisor ISS said the merger would help provide access to liquidity and capital markets, mitigating the risk associated with being a single-asset firm.
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