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The six months ended 30 September 2020 and subsequent period, have been transformative for CML towards the achievement of its objectives to list on a renowned international stock exchange for resource companies, and procurement of funding to significantly advance the Development Study and Work Programme of the Eastern Minerals Project in Sri Lanka (the Project ), the principal asset of CML.
On 21 October 2020, EPO announced that it had reached conditional agreement with parties holding a majority of the shares (51.4 per cent.) ( CML Majority ) in the Company, for EPO to acquire their shares in CML in exchange for ordinary shares in EPO. This proposed acquisition ( Proposed Acquisition ) constitutes a reverse takeover transaction pursuant to the AIM Rules for Companies. Following the Proposed Acquisition, the Company s business will constitute all of EPO s business. ....