21 MARCH 2016Altech Chemicals Press Release
Altech Chemicals updates on capital raising
Edited by : AL CIRCLE
1 min read
Altech Chemicals Limited has updated that further to the suspension of the trading of its securities on the ASX pre-open this morning, Perth stockbroking firm DJ Carmichael Pty Ltd is co-ordinating a placement of fully paid ordinary shares of the company to a variety of professional and sophisticated investors (the Placement). It is the intention of the company to announce details of the Placement pre-open on Wednesday 23 March 2016.
In addition to the Placement, the company intends to conduct a Share Purchase Plan (SPP), whereby existing shareholder of the company can subscribe to a maximum of $15,000 of new shares, at the same price as the Placement shares. The company intends to also announce details of the SPP on 23 March 2016.
Funds raised by the Placement and the SPP will be applied to finalising the detailed design of the company's proposed High Purity Alumina plant at Johor, Malaysia, for the completion of debt financing for the project and for general working capital purposes.
In addition to the Placement, the company intends to conduct a Share Purchase Plan (SPP), whereby existing shareholder of the company can subscribe to a maximum of $15,000 of new shares, at the same price as the Placement shares. The company intends to also announce details of the SPP on 23 March 2016.
Funds raised by the Placement and the SPP will be applied to finalising the detailed design of the company's proposed High Purity Alumina plant at Johor, Malaysia, for the completion of debt financing for the project and for general working capital purposes.
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