Altech Batteries Ltd (ALTHF) Results of Entitlement Issue
Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) provides the following update regarding its Entitlement Issue as announced on 7 August 2024.
The Company received applications from eligible shareholders as well as the underwriter amounting to $6,473,205. This represents 161,830,134 shares at $0.04 per share and 80,915,359 free-attaching options with an exercise price of $0.06 per share and expiring 31 December 2025.
The shares and options will be issued and allotted on 17 September 2024 and application for quotation of shares and options on the ASX will be made on 17 September 2024.
Altech's CEO and MD Iggy Tan stated "On behalf of the Board of Directors, I wish to thank all eligible shareholders that participated in the Entitlement Issue and for the support extended to Altech as it moves forward with both its CERENERGY(R) battery project as well as Silumina AnodesTM battery materials project.
In addition, the partial underwriting of the Entitlement Issue for $5,000,000 by MAA Group Berhad, an existing shareholder associated with Altech director Tunku Yaacob Khyra, sends a strong message of support. With the positive Definitive Feasibility Study and excellent economics for the 120MWh CERENERGY(R) battery project having been released in March 2024, Altech is extremely focused on securing offtake as well as finance to commence plant construction".
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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