CleanTech Lithium PLC on Friday said that plans for a listing in Australia have been delayed, as ‘procedural matters’ complicate the approval process.
CleanTech is a Chile-focused lithium exploration and development company, which aims to become a new supplier of battery grade lithium using direct lithium extraction technology.
In August, CleanTech lodged a prospectus for a proposed dual-listing on the Australian Securities Exchange, in conjunction with which it intended to raise up to A$20 million.
Reflecting on the days, CleanTech said it is now working with its lawyers in Australia, its other advisers and ASX to address the matters ‘expeditiously’.
It will provide the market with a further update when greater clarity has been obtained on the revised expected timetable.
Shares in CleanTech Lithium dropped 12% to 15.00 pence each in London on Friday afternoon.
Copyright 2024 Alliance News Ltd. All Rights Reserved.
