Altech Chemicals Limited ( (AU:ATC) ) has shared an announcement.
Altech Batteries Limited has announced a General Meeting for shareholders to approve a security arrangement involving the company’s land in Johor, Malaysia. This move is part of a strategic effort to secure funding for ongoing projects and working capital needs without diluting equity. The company has entered into a binding bond note subscription deed with its major shareholder, Deutsche Balaton AG, to access up to €2.5 million through interest-bearing Bearer Bonds. The land sale proceeds will be used to repay this facility, which allows Altech to continue its development projects while maintaining shareholder value.
More about Altech Chemicals Limited
Altech Batteries Limited is a company operating in the battery industry, focusing on the development of advanced battery materials and technologies. The company’s primary projects include the CERENERGY battery project and the Silumina Anodes battery materials project, with a market focus on innovative energy storage solutions.
YTD Price Performance: -20.0%
Average Trading Volume: 1,274,463
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$74.1M
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