Fair to say it's a disappointing morning; but somewhat not surprising I guess. Anyways not sure it's been posted here but below's a Friday release from AAM. I feel like these should really be duplicated on the ASX as well. Anyways, not particularly fussed with no commentary from Management, in so far as they're working their butts off on the follow up to the Financing strategy. The below kind of highlights that the legal judgement threw a spanner in the works, which while not reflecting well of the legal help management signed up, at least it's not writing off Germany as part of the financing strategy.
Altech Advanced Materials AG does not implement capital increaseAltech Advanced Materials AG will not implement the cash capital increase with shareholder subscription rights as resolved by the Annual General Meeting on July 17, 2019. The subscribers to the capital increase will be reimbursed for any contributions made.The background to this is that the capital increase was not registered by the competent registration court within the period set by the general meeting. This was preceded by several efforts on the part of the company to reach prior consultation with the registration court in the last two months or so. This week, the register court took an obvious typing error by a shareholder, which in the opinion of the company's lawyers was not relevant, as an opportunity to refuse registration and classified a short-term correction - incomprehensible and surprising to the company - as late and notified the company of this today after the registration deadline had expired.The company will now re-examine its financing strategy.The Management Board
