Altech Batteries Ltd Stock Market Press Releases and Company Profile
Share Purchase Plan - Letter to Shareholders
Share Purchase Plan - Letter to Shareholders

Perth, Mar 24, 2016 AEST (ABN Newswire) - Altech Chemicals Limited (googlechartASX:ATC) ACN 125 301 206 (Altech or the Company) has recently announced the successful completion of a $1.2 million placement of shares at 8.6 cents per share to various professional and sophisticated investors (Placement). Funds raised from the Placement will be applied to finalising debt financing for the Company's proposed high purity alumina (HPA) project, the completion of detailed design and for general working capital purposes.

Altech would now like to offer to existing shareholders the opportunity to purchase additional shares in the Company at the same price as the price paid by the professional and sophisticated investors, i.e. 8.6 cents per share.

As an existing shareholder, you are invited to participate in a non-renounceable Share Purchase Plan (SPP), whereby you can subscribe for up to $15,000 of new fully paid ordinary shares in the Company (Shares) at the subscription price of 8.6 cents per Share, without any brokerage or transactions costs.

The maximum number of Shares that is able to be issued under the SPP in order to comply with ASX Listing Rules requirements is 46,309,735, which is 30% of the total number of the Company's ordinary shares on issue at the date of this Offer.

To be eligible to participate in the SPP, you were required to be registered as a holder of Shares, with a registered address in Australia and New Zealand as at 5pm Western Standard Time (WST) on Wednesday, 23 March 2016 (Record Date).

Funds raised will be applied to finalising debt financing for the Company's proposed HPA project, the completion of detailed design and for general working capital purposes.

The offer of Shares under the Plan (Offer) opens on Thursday, 24 March 2016 (Opening Date) and closes at 5.00pm WST on Friday, 8 April 2016 (Closing Date). No late applications will be accepted, however the directors of the Company (Directors) reserve the right to extend the Closing Date.

The purchase price for each Share under the Offer is 8.6 cents per Share. This price is a 14% discount from the volume weighted average market price of Shares in the Company sold on the Australian Securities Exchange (ASX) during the previous five (5) trading days ending 18 March, 2016.

You may only subscribe for whole numbers of Shares in the tranches stated above, as no fraction of Shares will be issued. The Company reserves the right to allot fewer Shares than an eligible shareholder applies for under the Offer, or no Shares and any determination by the Directors in respect of any scaling back will be final. If a scale back occurs, the Company will refund any excess application money to eligible shareholders (without interest).

In the event the Company wishes to allot fewer Shares than an eligible shareholder applies for, the allocation of Shares to applicant Shareholders will be at the absolute discretion of the Directors from time to time.

If you have any questions in respect of the Plan, the Offer, or these terms and conditions please contact Shane Volk (Company Secretary) on (08) 6168 1555, or via e-mail at shane@altechchemicals.com.

To Apply, please visit:
http://abnnewswire.net/lnk/9B600802


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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