Altech Batteries Ltd Stock Market Press Releases and Company Profile
Altech Chemicals Limited - Capital Raising update
Altech Chemicals Limited - Capital Raising update

Perth, Mar 21, 2016 AEST (ABN Newswire) - Altech Chemicals Limited (googlechartASX:ATC) advises that further to the suspension of the trading of its securities on the ASX pre-open this morning, Perth stockbroking firm DJ Carmichael Pty Ltd is co-ordinating a placement of fully paid ordinary shares of the Company to a variety of professional and sophisticated investors (the Placement). It is the intention of the Company to announce details of the Placement pre-open on Wednesday 23 March 2016.

In addition to the Placement, the Company intends to conduct a Share Purchase Plan (SPP), whereby existing shareholder of the Company can subscribe to a maximum of $15,000 of new shares, at the same price as the Placement shares. The Company intends to also announce details of the SPP on 23 March 2016.

Funds raised by the Placement and the SPP will be applied to finalising the detailed design of the Company's proposed High Purity Alumina plant at Johor, Malaysia, for the completion of debt financing for the project and for general working capital purposes.

Please direct any inquiries to the Company Secretary, or DJ Carmichael in Perth.


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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