Altech Batteries Ltd Stock Market Press Releases and Company Profile
Share Purchase Plan raises $2.8 million
Share Purchase Plan raises $2.8 million

Perth, Jan 6, 2020 AEST (ABN Newswire) - Altech Chemicals Limited (googlechartASX:ATC) (googlechartA3Y:FRA) is pleased to announce that it received applications from existing shareholders for $2.8 million of new shares at an offer price of $0.0975 per share under its Share Purchase Plan (SPP), which closed on Friday 3 January 2020.

The response to the SPP from shareholders is extremely positive. The Company is pleased to advise that all applications will be accepted in full and that the new shares are expected to be allotted on Wednesday 8 January 2020.

Altech managing director Mr Iggy Tan said, "the Company is extremely pleased with the number of applications for new shares that it received from shareholders under the SPP. In excess of 300 shareholders participated, which is an excellent outcome - especially considering the timing of the SPP just prior to the Christmas/New Year period.

Work at the Company's Malaysian high purity alumina (HPA) plant site continues, with construction of the electrical sub-station progressing in accordance with the construction schedule."


About Altech Batteries Ltd

Altech Chemical Ltd ASX:ATCAltech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns. 

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

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Contact

Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com



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