Altech Batteries Ltd Stock Market Press Releases and Company Profile
AAM AG Executes Placement Agent Agreement
AAM AG Executes Placement Agent Agreement

Perth, Jan 30, 2020 AEST (ABN Newswire) - Altech Chemicals Limited (googlechartASX:ATC) (googlechartA3Y:FRA) is pleased to announce that it has been advised by Altech Advanced Materials AG (AAM) (googlechartAMA1:FRA) that AAM has executed an engagement agreement with a European headquartered global investment bank, for the bank to act as Placement Agent for AAM's planned private share placement.

The AAM announcement is as follows:

"Altech Advanced Materials AG ("AAM") is pleased to announce that an engagement agreement has been executed between AAM and a Swiss international Investment Bank. AAM commenced working with the bank during the last quarter to reach agreement on the scope of the engagement, conduct due diligence and satisfy the bank's KYC (know your client) requirements.

The engagement is for the bank to act as Placement Agent in relation to the issuance of equity or other equity instruments (securities) by AAM via private placement, which will be scheduled to follow the planned re-introduction of the rights offer to existing AAM shareholders.

In addition, the bank is mandated to assist with the structuring of any transactions including the preparation of a timetable and the determination of the appropriate transaction structure. The bank is compiling an initial list of potential investors and approaching them with the project financing opportunity, in preparation for road-show presentations by AAM and ASX listed Altech Chemicals Limited ("Altech")."


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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