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Altech Chemicals - Major Shareholders Convert Listed Options


Altech Chemicals Limited (Altech/the Company) (ASX: ATC) (FRA: A3Y) is pleased to announce that the Company’s largest shareholder, Deutsche Balaton Aktiengesellschaft (Duetsche Balaton), has converted 15,000,000 listed options with an expiry date of 31 May 2022 and conversion price of $0.08 each, for total proceeds of $1,200,000. In addition to this, significant shareholder Delphi Unternehmensberatung Aktiengesellschaft (Delphi) has converted 11,519,296 listed options for total proceeds of $921,543.

Altech has received total funds of $2,121,543 from both the Duetsche Balaton and Delphi conversions.

Managing Director, Mr Iggy Tan, stated “Altech is extremely pleased to have the support of these major shareholders at a very exciting time for the Company. Altech recently announced the outstanding preliminary feasibility study results for its Silumina AnodesTM battery materials project in Germany, which included a pre-tax NPV(8) of US$507 million, as well as an attractive internal rate of return of 40%. To have the support of these major shareholders, both domiciled in Germany, at a time when Altech is moving forward with construction of the Silumina AnodesTM pilot plant in Germany, as well as the DFS on the 10,000tpa Silumina AnodesTM, is very positive. On behalf of the Board of Directors, I would like to thank both Duetsche Balaton and Delphi for their ongoing support of Altech”.

Further to the ASX announcement of 21 April 2022, Altech would like to take this opportunity to remind holders of listed options of their pending expiry date of 31 May 2022 and reminds holders to consider converting their options. Instructions and payment requirements on the conversion process have either been posted or emailed to the option holders. If any holders require more information in relation this, please contact Altech using the details at the end of this announcement. Payment must be received no later than 31 May 2022.

For more information, download the attached PDF.

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