Altech Batteries Ltd Stock Market Press Releases and Company Profile
Altech - SPP Closing Date Extended
Altech - SPP Closing Date Extended

Perth, May 30, 2017 AEST (ABN Newswire) - Altech Chemicals Limited (Altech/the Company) (googlechartASX:ATC) (googlechartA3Y:FRA) advises that it has extended the Closing Date of its Share Purchase Plan (SPP) to Wednesday 7 June 2017 (5pm WST).

Highlights:

- Share Purchase Plan (SPP) offered to eligible shareholders

- Closing date extended to Wednesday 7 June 2017 (5pm WST)

- SPP offer priced at a 5% discount to the 5 day VWAP to 7 June 2017

Existing eligible shareholders of Altech have the opportunity to subscribe to a maximum of $15,000 of new shares and a minimum amount of $1,000 of new shares, via the SPP.

Shares issued under the SPP will be priced at a 5% discount to the volume-weighted average price of Altech shares as traded on the Australian Securities Exchange over the 5 days up to, and including, the day on which the SPP offer closes (now 7 June 2017), rounded down to the nearest half-cent. Altech will announce the final issue price for the SPP shares after the offer closes.

Under the SPP rules, shareholders who were recorded on the share register at 5 May 2017 (record date) with a registered address in Australia or New Zealand are eligible to participate.

Each eligible shareholder is entitled to apply for up to $15,000 of new fully paid ordinary shares of the Company without incurring any brokerage or other transaction costs. All new shares issued under the SPP will rank equally with existing ordinary shares of the Company.

Shareholders that have not yet taken up the offer to participate in the SPP, but wish to do so, are urged to return the completed individualised SPP application form along with payment for the application amount to the Company prior to the revised closing date of 7 June 2017. Alternatively, shareholders can pay the application amount directly via BPAY(R), in which case there is no need to return the application form to the Company.

Shareholders that have not received an SPP application form, or require a replacement form, should contact Mr Shane Volk (Company Secretary, see contact details below).


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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