Altech Batteries Ltd Stock Market Press Releases and Company Profile
Controlled Placement Agreement and Cleansing Statement
Controlled Placement Agreement and Cleansing Statement

Perth, Feb 27, 2020 AEST (ABN Newswire) - Altech Chemicals Limited (googlechartASX: ATC) (googlechartA3Y:FRA) is pleased to announce that it has entered into a Controlled Placement Agreement (CPA) with Acuity Capital. The CPA provides Altech with up to $10 million of standby equity capital for the period to 31 January 2023.

Important features of the CPA include:

- There are no requirements upon Altech to utilise the CPA.

- If Altech chooses to utilise the CPA, it retains full control of all aspects of the placement process, having sole discretion as to if and when the CPA is utilised, the quantum of shares issued, the minimum issue price of shares ("floor price") and the timing of any issue.

- Altech retains full flexibility to use all other methods or arrangements to raise capital whist the CPA is in place.

- Altech may terminate the CPA at any time, without cost or penalty.

As collateral for the CPA, Altech has agreed to place 40 million fully paid ordinary shares from its LR 7.1 capacity with Acuity Capital for nil consideration (Collateral Shares). When the CPA expires, or if it is cancelled by Altech, the Collateral Shares may be bought back by Altech for nil consideration (subject to shareholder approval).

Notice under Section 708A of the Corporations Act 2001 Cth

The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act, that the 40,000,000 Collateral Shares issued for nil consideration were issued without disclosure under Part 6D.2, in reliance on Section 708A(5) of the Corporations Act. The Company, as at the date of this notice, has complied with:

a) The provisions of Chapter 2M of the Corporations Act; and
b) Section 674 of the Corporations Act.

There is no excluded information as at the date of this notice, to be disclosed for the purposes of Sections 708A(7) and (8) of the Corporations Act.


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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