Altech Batteries Ltd Stock Market Press Releases and Company Profile
$1.85 Million Raised via SPP and Placement
$1.85 Million Raised via SPP and Placement

Perth, June 13, 2017 AEST (ABN Newswire) - Altech Chemicals Limited (Altech/the Company) (googlechartASX:ATC) is pleased to announce that it has raised $1.85 million via the Share Purchase Plan (SPP), which closed on Wednesday 7 June 2017, and a concurrent placement of shares to various professional and sophisticated investors.

Highlights

- $1.85 million raised via SPP and share placement
- Issue price of $0.11 per share
- In excess of 250 shareholders participated

The issue price of the SPP shares and the placement shares is 11 cents per share. This is a 5% discount to the volume weighted average price of the Company's shares as traded on the ASX during the 5 days up to and including 7 June 2017, rounded down to the nearest half cent.

Altech managing director, Mr Iggy Tan said, "the Company is extremely pleased with the support shown from its existing shareholder base via participation in the SPP. In excess of 250 shareholders participated in the SPP, with a large number electing to apply for the maximum application amount of $15,000.

Concurrent with the SPP, the Company is delighted to welcome a small number of new European based shareholders that have been recently introduced to the Company and were placed shares at the SPP price."


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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