Altech Batteries Limited (Altech/the Company) (ASX: ATC) provides the following update regarding its Share Purchase Plan (SPP) as announced on 17 April 2024.

Highlights

Share Purchase Plan (SPP) closed 15 May 2024Proceeds received of $3,721,000Shares and options will be issued 22 May 2024Quotation of shares on ASX 22 May 2024

The Company received applications from eligible shareholders amounting to proceeds received of $3,721,000. This represents 57,246,037 shares at $0.065 per share and 28,622,799 free-attaching options with an exercise price of $0.08 per share and expiring 30 April 2026.

The shares and options will be issued and allotted on 21 May 2024 and application for quotation of shares on the ASX will be made on 21 May 2024.

Altech’s CEO and MD Iggy Tan stated“On behalf of the Board of Directors, I wish to thank all eligible shareholders that participated in the SPP and for the support extended to Altech as it moves forward with both its CERENERGY® battery project as well as Silumina AnodesTM battery materials project. The SPP was very well received and supported. I am also cognisant of the market’s expectation in relation to the fabrication of the two 60KWh CERENERGY® battery prototypes as well as the commissioning of the Silumina AnodesTM pilot plant, and funds received from the SPP will be applied towards this. With the positive Definitive Feasibility Study and excellent economics for the 120MWh CERENERGY® battery project having been recently released in March 2024, Altech is also focused on securing offtake as well as finance to commence plant construction”.

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