LONDON – European Metals Holdings Limited (ASX & AIM: EMH, OTCQX: EMHXY and EMHLF), a key player in the mineral exploration sector, has announced a strategic change in its financial calendar. The company's Board of Directors has resolved to alter its financial year end from June 30 to December 31.
This adjustment aims to synchronize European Metals' financial reporting period with that of its associate Geomet s.r.o., which holds a 49% stake in the company and controls the Cinovec Lithium Project in the Czech Republic. Geomet already operates on a December 31 financial year end, and the alignment is expected to streamline the financial reporting, auditing, governance, and compliance processes across the entities.
The last financial year for European Metals concluded on June 30, 2024. The company will now observe a six-month Transitional Financial Year (TFY), starting July 1, 2024, and ending December 31, 2024. Subsequent financial years will follow a standard twelve-month cycle beginning January 1, 2025.
In line with regulatory requirements, European Metals will submit audited financial statements for the TFY by March 31, 2025, and will hold its annual general meeting by May 31, 2025. Thereafter, the company plans to release unaudited interim results for the half-year ending June 30 by mid-September and audited full-year results by March 31 each subsequent year.
The decision to change the financial calendar complies with Section 323D(2A) of the Corporations Act 2001 (Cth). European Metals anticipates that this realignment will enhance the efficiency and cost-effectiveness of its statutory financial reporting and auditing.
This announcement, approved by the Board for release, is based on a press release statement and is intended to provide shareholders and the market with the latest corporate developments.
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