Hi Mates,A great disappointment for me:Public disclosure of...

Hi Mates,

A great disappointment for me:

Public disclosure of inside information according to article 17 MAR

Altech Advanced Materials AG:
Extension of the option agreement with Altech Chemicals Limited and Altech Chemicals Australia PTY LTD
Heidelberg (pta/20.04.2021/17:05)

Altech Advanced Materials AG ("AAM / the Company",) (FRA: AMA1) had entered into an option agreement with Altech Chemicals Limited ("ATC"), a public company listed in Australia, and Altech Chemicals Australia PTY LTD ("Altech Australia") on July 17, 2019, which allows AAM to acquire up to 49% interest in Altech Australia's high purity alumina project ("HPA") for up to USD100 million.

The option expiry date has been July 1, 2021 after its prolongation on 23. December 2020.

AAM, ATC and Altech Australia today agreed to further extend the option agreement for 12 months on the same terms, until July 1, 2022.Furthermore, AAM has today entered into agreements with ATC which, subject to certain conditions, allow AAM to defer the Company's obligation to pay the remaining purchase price for the investment in Altech Industries Germany GmbH (see the ad hoc announcements dated 26 October and 23 December 2020) and the obligation to continue financing Altech Industries Germany GmbH.

The Executive Board

What the hell is going on?
If AAM is not able to organise the money, they should not sign such contracts.

The only positive thing: Iggy can look for other financial partners without (further) losses,
because the options of the contract of 17 July 1919 (!) still are valid...

Greetings from Old Germany
Greenfoxi