Altech Batteries Ltd Stock Market Press Releases and Company Profile
$1 Million Share Placement Completed
$1 Million Share Placement Completed

Perth, Oct 20, 2015 AEST (ABN Newswire) - Altech Chemicals Limited (googlechartASX:ATC) is pleased to advise that Melewar International Investment Company Limited (Melewar) has now completed the second tranche of its share placement in the Company, following approval by shareholders at the Company's Annual General Meeting on 15 October 2015.

Melewar's total investment in the Company is now $1.0 million and following the completion of the placement Melewar holds 16,949,153 shares of the Company, or approximately 11.98% on an undiluted basis.

Melewar is a diversified Malaysian industrial firm with interests in steel, energy and engineering businesses. As previously announced, the Company has invited Melewar to nominate a Malaysian based non-executive director to the join the Altech Board and the Company expects to provide details of this nomination shortly.

See Appendix 3B in the link below for tranche 2 of the placement.

To view the release, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ATC-737985.pdf


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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