Altech Batteries Ltd Stock Market Press Releases and Company Profile
Share Purchase Plan Offer
Share Purchase Plan Offer

Perth, July 11, 2018 AEST (ABN Newswire) - On 9 July, Altech Chemicals Limited (googlechartASX:ATC), (googlechartA3Y:FRA) ACN 125 301 206 (Altech or the Company) announced a $20 million capital raising for commence construction of its high purity alumina (HPA) plant in Malaysia. The shares for the capital raising are priced $0.165 per share, representing an 18.7% discount to the volume weighted average market price of the Company's Shares as traded on the ASX on the 5 trading days immediately prior to the announcement of the capital raising.

Altech is now pleased to provide all existing eligible Shareholders the opportunity to purchase up to $15,000 of new Shares in the Company, via a Share Purchase Plan (SPP). The issue price of Shares offered under the SPP will also be $0.165 per Share.

To be eligible to participate in the SPP, you were required to have been registered as a holder of Altech Shares, with a registered address in Australia and New Zealand, as at 5pm Western Standard Time (WST) on Friday, 6 July 2018 (Record Date). The Company intends to raise a maximum of $3.0 million via the SPP and any funds raised will be applied towards finalising the detailed design of the Company's proposed high purity alumina (HPA) plant, the preparation of the HPA plant site for construction, the commencement of site works, the order of long lead time plant and equipment, and for corporate, administration and working capital purposes.

The Company last conducted a SPP in June 2017; at that time new Shares were offered at a price of $0.11 per Share. The price performance of the Company's Shares, as traded on the Australian Securities Exchange over the preceding year is illustrated in the chart below (see link below).

The offer of Shares under the SPP (Offer) opens on Wednesday 11 July 2018 (Opening Date) and closes at 5.00pm WST on Tuesday 31 July 2018 (Closing Date). No late applications will be accepted, however the directors of the Company (Directors) reserve the right to extend the Closing Date.

The purchase price for each Share under the Offer will $0.165 per Share.

If you are eligible to subscribe for Shares under the Offer and you wish to participate, you may subscribe for Shares as follows:
 ----------------------------------------------------------------------Offer         Subscription Amount ($A)         Number of new Shares  ----------------------------------------------------------------------Offer A       $15,000 (maximum)                90,909 Offer B       $10,000                          60,606 Offer C       $5,000                           30,303 Offer D       $2,500                           15,152 Offer E       $1,000 (minimum)                  6,061  ----------------------------------------------------------------------
You may only subscribe for Shares in the tranches stated above. The Company reserves the right to allot fewer Shares than an eligible Shareholder applies for under the Offer, or no Shares, and any determination by the directors of the Company in respect of any scaling back will be final. If a scale back occurs, the Company will refund any excess application money to eligible Shareholders (without interest).

In the event the Company wishes to allot fewer Shares than an eligible Shareholder applies for, the allocation of Shares to applicant Shareholders will be at the absolute discretion of the Company's directors from time to time.

Please carefully read the terms and conditions (see link below) relating to the Offer, as you will be bound by them.

If you have any questions in respect of the SPP, the Offer, or these terms and conditions please contact Shane Volk (Company Secretary) on (08) 6168 1555, or via e-mail at shane@altechchemicals.com.

To view the terms and conditions, please visit:
http://abnnewswire.net/lnk/1R575TXV


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.

https://twitter.com/altechbatteries https://www.facebook.com/AltechChemicals/ https://au.linkedin.com/company/altechbatteries abnnewswire.com 


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



ABN Newswire
ABN Newswire This Page Viewed:  (Last 7 Days: 8) (Last 30 Days: 29) (Since Published: 5088)