Major Shareholders Convert Listed Options
Perth, May 3, 2022 AEST (ABN Newswire) - Altech Chemicals Ltd (ASX:ATC) (A3Y:FRA) is pleased to announce that the Company's largest shareholder, Deutsche Balaton Aktiengesellschaft (Duetsche Balaton), has converted 15,000,000 listed options with an expiry date of 31 May 2022 and conversion price of $0.08 each, for total proceeds of $1,200,000. In addition to this, significant shareholder Delphi Unternehmensberatung Aktiengesellschaft (Delphi) has converted 11,519,296 listed options for total proceeds of $921,543.
Altech has received total funds of $2,121,543 from both the Duetsche Balaton and Delphi conversions.
Managing Director, Mr Iggy Tan, stated "Altech is extremely pleased to have the support of these major shareholders at a very exciting time for the Company. Altech recently announced the outstanding preliminary feasibility study results for its Silumina AnodesTM battery materials project in Germany, which included a pre-tax NPV(8) of US$507 million, as well as an attractive internal rate of return of 40%. To have the support of these major shareholders, both domiciled in Germany, at a time when Altech is moving forward with construction of the Silumina AnodesTM pilot plant in Germany, as well as the DFS on the 10,000tpa Silumina AnodesTM, is very positive. On behalf of the Board of Directors, I would like to thank both Duetsche Balaton and Delphi for their ongoing support of Altech".
Further to the ASX announcement of 21 April 2022, Altech would like to take this opportunity to remind holders of listed options of their pending expiry date of 31 May 2022 and reminds holders to consider converting their options. Instructions and payment requirements on the conversion process have either been posted or emailed to the option holders. If any holders require more information in relation this, please contact Altech using the details at the end of this announcement*. Payment must be received no later than 31 May 2022.
*To view option conversion process, please visit:
About Altech Chemicals Ltd
Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is aiming to become one of the world's leading suppliers of 99.99% (4N) high purity alumina (Al2O3) through the construction and operation of a 4,500tpa high purity alumina (HPA) processing plant at Johor, Malaysia. Feedstock for the plant will be sourced from the Company's 100%-owned kaolin deposit at Meckering, Western Australia and shipped to Malaysia.
HPA is a high-value, high margin and highly demanded product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. Increasingly HPA is used by lithium-ion battery manufacturers as the coating on the battery's separator, which improves performance, longevity and safety of the battery. With global HPA demand approximately 19,000t (2018), it is estimated that this demand will grow at a compound annual growth rate (CAGR) of 30% (2018-2028); by 2028 HPA market demand will be approximately 272,000t, driven by the increasing adoption of LEDs worldwide as well as the demand for HPA by lithium-ion battery manufacturers to serve the surging electric vehicle market.
Altech Chemicals Ltd