German Research Pinpoints Safety Risk for Lithium-ion Batteries, page-26

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rokkett

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20/05/20

14:27

Post #: 44728027
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Originally posted by scarr: ↑

BAFIN APPROVES BROCHURE REFERENCE DATE FOR CAPITAL INCREASE FROM MAY 25 TO JUNE 8, 2020
As already published several times, Altech Advanced Materials AG (Heidelberg, May 19, 2020/14: 10; "AAM") plans to participate in Altech Chemicals Australia PTY LTD ("Altech Australia"). The equity option provides up to $ 100 million equivalent to a 49% stake in Altech Australia. Altech Australia is currently building a production plant for high-purity aluminum oxide (99.99%; 4N HPA) in Malaysia with a capacity of 4,500 tons per year and also has its own deposit for the mining of the main raw material kaolin. 4N HPA is among others required for the production of LED lights and as a separator for lithium-ion batteries, e.g. for electric vehicles and smartphones. According to market studies, the demand for 4N HPA should average 30% p.a. grow by 2028. The process, patented by Altech Australia, allows the production of HPA as a cost leader, since the HPA can be obtained directly from kaolin (alum mina) in an environmentally friendly manner. This enables production without the use of energy-intensive aluminum, which means that the process generates significantly less CO2 emissions than the conventional manufacturing process. The acceptance of the complete production volume for the first 10 years was achieved through an off-take agreement with Mitsubishi Australia Ltd. secured. The production capacity and product quality of the production plant built in Malaysia is guaranteed by the German plant manufacturer SMS Group GmbH from Düsseldorf.
As part of the capital raising strategy for the required $ 100 million, the increase in the share capital from EUR 1.58 million by up to EUR 63.10 million to up to EUR 64. EUR 68 million resolved through the issue of new shares.
The approval of the required securities prospectus by the Federal Financial Services Agency ("BaFin") was granted today. The prospectus can be found on the company's website at https://www.altechadvancedmaterials.com/de/beugsangebot. The subscription period for the subscription rights capital increase will now run from May 25 to June 8, 2020. The subscription offer will be published on Friday, May 22, 2020 in the Federal Gazette and on the company's website. As part of the subscription offer, each existing share entitles the holder to purchase 40 new shares at a price of EUR 1.10 each

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Why hasn't this been announced for ATC. Great news. Thanks scarr.

ATC Price at posting: 5.1¢ Sentiment: Buy Disclosure: Held
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