ALL CONDITIONS PRECEDENT SATISFIED FOR GERMAN PROJECT EQUITY STRATEGY
Altech Chemicals Limited (Altech/the Company) (ASX: ATC) (FRA: A3Y) is pleased to advise that all of the conditions precedent have now been satisfied for both transactions outlined in its German project equity strategy announced on 18 July 2019. The strategy involves the acquisition of 29% of the shares of Frankfurt stock exchange listed Youbisheng Green Paper AG (to be re-named Altech Advanced Materials AG (AAM)); and the sale by Altech of a right to AAM to acquire 49% of Altech’s high purity alumina (HPA) project for US$100m. With the satisfaction of all conditions precedent, Altech will now proceed to completion for both transactions.
All conditions precedent satisfied for German project equity strategy transactions
Altech will now proceed to transaction completion
Altech nominees already appointed to German management and supervisory boards
German entity to be re-named Altech Advanced Materials AG
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