• Acquisition of 29% of Youbisheng Green Paper AG completed
• €500,000 payment and issue of Altech shares to Deutsche Balaton AG finalised
• Non-refundable fee of €500,000 received
• Right to purchase up to a 49% interest in HPA project for US$100 million
• Prospectus to be lodged with German regulator next week
Altech Chemicals Limited (Altech/the Company) (ASX: ATC) (FRA: A3Y) is pleased to advise that it has completed the acquisition of 29% of the shares of Frankfurt stock exchange listed Youbisheng Green Paper AG (re-named Altech Advanced Materials AG (AAM)). In addition, the Company has also completed the sale of a right to AAM for it to acquire up to a 49% interest in Altech’s high purity alumina (HPA) project for US$100 million. Altech has received the non-refundable fee of €500,000 from AAM as consideration for the sale of the right, and earlier this week issued €1,000,000 of Altech fully paid ordinary shares and paid €500,000 in cash to Deutsche Balaton AG – seller of the 29% interest in AAM.
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