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Ann: Altech - Share Purchase Plan raises $2.8 million, page-15

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MellowYellow

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07/01/20

16:38

Post #: 42267585
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Originally posted by Muad'Dib: ↑

The first part of the AAM rights issue is estimated to raise between €5m - €10m. (According to AAM’s recent announcement).
For me, the most important question will be how much of the new issue Balaton takes up.
If €10m is raised, I estimated (from a previous post) ~ €5.76m would come from Balaton.
Outside of Balaton and Altech all other holders accounted for only 96,353 shares, therefore a maximum of 96353 x 40 x €1.1 per new share = €4,239,488 can come from them.
Regardless of the amount raised in part1, it can't flow to ATC until part 2 of the raise has completed and they raise more than the €20m minimum required to buy a 9.8% share of the project.
As of 30/09/2019 they held $2.64m, plus CRs of 2.0m + 1.8m + 2.8m since = $9.2m.
Outgoings for Q4 were estimated at $8.8m.
Even if they spend no money on construction payments in Q1 2020, historically they spend around $2m to keep the lights on including $700k for the KfW IPEX-Bank facility fee.
Therefore either they defer a big portion of the $7.0m of estimated construction costs into this quarter in the hope of the AAM part 2 raise completion prior to 31st March or they do another CR.
As one of the 300, I maintain faith in management's ability and remember the saying,
'The darkest hour is just before the dawn'.

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Any shares not taken up by Balaton or ATC can go to other holders through "Over subscription" or "Placement" shares.......so the amount coming from other holders could be well in excess of €4,239,488 I believe?

ATC Price at posting: 9.8¢ Sentiment: Buy Disclosure: Held
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Last 5.0¢		Change 0.000(0.00%)		Mkt cap ! $85.52M

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Ann: Altech - Share Purchase Plan raises $2.8 million, page-15

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Ann: Altech - Share Purchase Plan raises $2.8 million, page-15

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