Altech Chemicals Ltd (ASX:ATC) Share Purchase Plan Raises A$4.3 Million

Altech Chemicals Limited (Altech/the Company) (ASX:ATC) (FRA:A3Y) is pleased to announce that it received applications from existing shareholders for $4.3 million of new shares at an offer price of $0.165 per share under the Share Purchase Plan (SPP), which closed at 5pm (WST) on Tuesday 31 July 2018.

Highlights

- $4.3 million raised via Share Purchase Plan

- Positive and excellent support from shareholders

- In excess of 550 shareholders participated

The response to the SPP from shareholders is extremely positive and the Company is pleased to advise that all applications will be accepted in full and that the new shares will be allotted on Monday 6 August 2018.

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 550 shareholders, representing approximately 20% of all shareholders, participated which is an exceptional outcome.

Project momentum is now growing rapidly, the site for our high purity alumina (HPA) plant has now been cleared and the stage-1 construction agreement was recently signed, this will see works in Johor commence shortly."


About Altech Batteries Ltd

Altech 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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