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8.2¢ alita resources limited

OCP Asia, Turnbull's Keshik swoop on lithium play Alita Resources, page-3

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nicolas40

44 Posts.

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19/08/19

21:38

Post #: 40046847
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Originally posted by Haplo: ↑

Hong Kong-based alternatives manager OCP Asia and Alex Turnbull's hedge fund Keshik Capital are set to emerge as major shareholders in ASX-listed lithium company Alita Resources.

Street Talk understands OCP and Keshik will tip fresh funds into the lithium concentrate producer as part of a $60 million recapitalisation, and each walk away with a 10 per cent stake and board seats.
The pair's investment is expected to be unveiled as early as Tuesday and be one of a number of significant changes at Alita.

The changes include the payout of a $40 million credit facility to major lender Tribeca Investment Partners, which will be replaced with an equity-like facility backed by OCP and Keshik.
There is also expected to be a realignment of the company towards Korean and Japanese partners, after falling into recent trouble with its existing offtaker.
Shares in the offtaker, Hong Kong-listed Burwill went into a trading halt on Monday as the recapitalisation was being finalised.

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A40 Price at posting: 8.2¢ Sentiment: None Disclosure: Held
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