Eurobattery Minerals CEO Roberto García Martínez remanded in custody, Digi Mart USA News (Sweden): Mining company Eurobattery Minerals announced on Saturday, November 7, 2026, that its chief executive officer and board member, Roberto García Martínez, has been remanded in custody in Sweden. The news follows several months of criminal suspicions, a long-running trading halt and major changes in the company’s management.
In a brief press release about the remand, the company said it does not yet have further information about the event and will provide updates when more details become available. The announcement did not specify which offense the remand concerns, when the deprivation of liberty took place, or which court made the decision.
The remand comes at a time of severe strain for Eurobattery Minerals. The company’s shares have been subject to a trading halt since September, several people have left their positions, and the NGM exchange has raised the question of delisting.
García Martínez was previously linked to suspicions of three cases of aggravated insider trading. On September 19, Eurobattery Minerals announced that the CEO was suspected of these offenses.
At the same time, the company disclosed that he had previously been convicted of fraud in Spain.
There is therefore a prior legal background to Saturday’s announcement. However, no confirmed connection between the current remand and the insider trading suspicions has been presented.
A remand is a coercive legal measure and does not mean that a person has been convicted of the offense under suspicion.
For shareholders, a key circumstance is that Eurobattery Minerals’ shares were already halted from trading when the new announcement was made. NGM halted trading on September 15, 2026, and the shares were subsequently placed under observation on September 21.
The trading halt applies until further notice, and no verified decision to resume trading had been published when the remand news emerged. Trading in Eurobattery Minerals on the German Börse Stuttgart is also halted.
The problems with the company’s listing extend beyond the trading halt itself. On October 20, Eurobattery Minerals announced that NGM intended to request that the exchange’s disciplinary committee examine alleged breaches of the rulebook.
NGM also intended to request that the shares be delisted. Such a request is not the same as a final delisting decision, but it adds further uncertainty for the company’s shareholders.
The new event is particularly significant because Eurobattery Minerals already faced serious governance problems before the remand. On October 21, the company stated that after Jan-Olof Arnbom’s departure, the board consisted of only two members.
The company’s articles of association require a board of three to five members, and the Swedish Companies Act requires at least three board members in public limited companies. The board was therefore already understaffed according to the company’s most recently reported information.
The company had also stated that García Martínez did not take part in the board’s handling of matters concerning him personally. Eckhard Cordes had taken on a central role in handling the situation.
With García Martínez now remanded in custody, the question of the company’s ongoing leadership becomes even more pressing. There is as yet no verified announcement that an acting CEO has been appointed, that García Martínez has stepped down from his positions, or how day-to-day operations will be managed during the deprivation of liberty.
Before the remand, Eurobattery Minerals had already announced that an extraordinary general meeting would be held in the second half of November. The aim was to elect new board members and a new auditor.
The need arose in part after several departures during the autumn. The company’s auditor and deputy auditor resigned on October 2.
The company’s October 21 governance update described plans for the extraordinary meeting. No newly confirmed date for the meeting or finalized solution to the leadership question appears in the remand announcement.
Several of the autumn’s events are connected through their consequences for the company’s leadership and listing, although it has not been established that the various legal matters share the same background. Another event during the autumn concerned the Swedish Financial Supervisory Authority’s decision of September 24.
The authority ordered Nazgero Consulting Services LTD to pay a sanction fee of SEK 3.5 million for late reporting of transactions in Eurobattery Minerals securities. Nazgero has been reported to be owned by García Martínez.
That decision concerns the obligation to report certain transactions and should not be confused with either the earlier insider trading suspicions or the new remand. There is no basis to conclude that these matters are part of the same criminal investigation.
Eurobattery Minerals operates in the mineral and raw materials sector, with projects linked to Finland and Spain, among others. The company now faces several issues that must be resolved regardless of how the legal process involving García Martínez develops.
First, its leadership must be clarified. If the CEO cannot perform his duties, the company must be able to maintain operations and make necessary decisions.
Second, the board needs to regain a composition that meets the requirements applicable to the company, which makes the announced extraordinary general meeting especially important. Third, the listing question remains.
NGM’s ongoing handling of the trading halt and the delisting matter will be decisive for the possibility of resuming regular trading.
For shareholders, three developments in particular need to be monitored: what the remand actually concerns, who will lead the company, and how NGM decides on the future of the shares. Saturday’s press release does not yet provide answers to these questions.
Eurobattery Minerals has stated that further information will be provided when available.
