An announcement from Altech Chemicals Limited ( (AU:ATC) ) is now available.
Altech Batteries Limited has secured a funding agreement with major shareholder Deutsche Balaton AG, allowing it to draw up to €2.5 million through Bearer Bonds. This funding, secured by Altech’s Malaysian land, will support the company’s battery projects and general working capital without diluting shareholder equity. The repayment of these bonds is expected to be facilitated by the sale of the company’s Malaysian land, with shareholder approval anticipated in a meeting scheduled for late April 2025.
More about Altech Chemicals Limited
Altech Batteries Limited operates in the battery industry, focusing on the development of advanced battery materials and technologies. The company is involved in projects such as the CERENERGY battery project and the Silumina Anodes battery materials project.
YTD Price Performance: -18.00%
Average Trading Volume: 1,346,990
Technical Sentiment Signal: Buy
Current Market Cap: A$82.11M
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