Global Lithium Resources has entered a binding Scheme Implementation Deed with Titan Australia Mining Pty Ltd, under which Titan proposes to acquire 100% of Global Lithium shares through a scheme of arrangement. The proposed cash consideration is A$1.15 per share, which Global Lithium said implies an approximately A$333 million fully diluted equity value.
The transaction remains conditional on an independent expert concluding that the scheme is in shareholders' best interests, shareholder approval, regulatory approvals including FIRB and ACCC clearances, court approval, and other customary conditions. Global Lithium said the scheme is not subject to financing or due-diligence conditions.
Global Lithium's board unanimously recommends shareholders vote in favour of the scheme, subject to no superior proposal emerging and the independent expert maintaining a favourable conclusion. Directors controlling about 12.5% of the company's shares have indicated they intend to vote in favour on the same basis.
A Titan Lithium Group lender has also agreed to provide a bridging facility of up to A$120 million for development expenditure at Global Lithium's Manna Lithium Project. The facility comprises four tranches, with later tranches available if the scheme has not completed by specified dates and subject to conditions.
Global Lithium's indicative timetable envisages a shareholder scheme meeting in late December 2026, followed by a second court hearing in early to mid-January 2027 and implementation on the fifth business day after the record date, if the required approvals are obtained.
Source: Download GL1 official ASX announcement, 2026-09-22 (PDF saved on MES).
File image from earlier MES coverage: Global Lithium secures key early-works approvals for Manna. Not an image of the current announcement.