Entitlement Offer - Extension of Closing Date
Perth, Dec 10, 2014 AEST (ABN Newswire) - Altech Chemicals Limited (Altech/the Company) (
ASX:ATC) advises that it has extended the Closing Date of its pro-rata non-renounceable Entitlement Offer to Eligible Shareholders to Friday, 19 December 2014.
The Entitlement Offer is on the basis of one (1) new Share for every 4 Shares held on the Record Date at $0.10 per new Share with 1 free-attaching listed Option for every new Share issued, each Option having an exercise price of $0.10 and an expiry date of 15 December 2015, to raise approximately $2.69 million (before costs).
The Closing Date has been extended from Monday, 15 December to Friday, 19 December 2014.
To view the timetable, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ATC-703593.pdf
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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