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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Altech Chemicals Limited    ATC   AU000000ATC9

ALTECH CHEMICALS LIMITED

(ATC)
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Altech Chemicals : Entitlement Offer-Letter to Ineligible Shareholders

11/18/2020 | 11:40am EST

Altech Entitlement Offer-Letter to Ineligible Shareholders.

We write to you as the registered holder of Altech Chemicals Limited (ASX: ATC) (Altech or the Company) shares as at 13 November 2020 (Record Date).

As advised in the Company's ASX announcement dated 9 November 2020, Altech is undertaking a non- renounceable pro-rata entitlement offer to eligible shareholders of ordinary fully paid shares in the Company on the basis of two (2) new shares at $0.04 each for every five (5) shares held by Altech shareholders at the Record Date (Friday 13 November 2020), plus one free attaching option for each two (2) new shares subscribed and issued (exercise price $0.08, expiry 31 May 2022), to raise up to $14.5 million before costs (Offer). ASX quotation will be sought for the options.

The Offer is open to all eligible Altech shareholders that have a registered address in Australia, New Zealand, Hong Kong, Malaysia, Singapore and Germany. Also, eligible shareholders will be able to make application for new shares (and the attaching option) in addition to their pro-rata 2 for 5 entitlement, via a shortfall offer

Fully subscribed, the Offer would result in the issue up to approximately 363,334,788 new shares and 181,667,394 new options to raise approximately $14.5 million, before costs.

Ineligible Shareholders

The Company has determined that it would be unreasonable to make offers under the Prospectus to ineligible foreign shareholders, being those foreign holders with registered addresses outside of Australia and New Zealand, Hong Kong, Malaysia, Singapore and Germany (Ineligible Foreign Shareholders). Accordingly, the Company wishes to advise that it will not be extending this Offer to you.

Contact:

Tel: +61 (08) 6168 1555

Email: info@altechchemicals.com

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 0,92  0,71  0,71 
Net income 2020 -3,52 M -2,72 M -2,72 M
Net cash 2020 0,83 M 0,64 M 0,64 M
P/E ratio 2020 -9,01x
Yield 2020 -
Capitalization 63,0 M 48,6 M 48,8 M
EV / Sales 2019 -
EV / Sales 2020 37 138 623x
Nbr of Employees 5
Free-Float 51,7%
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Managers and Directors
NameTitle
Ignatius Kim-Seng Tan Managing Director & Director
Luke Frederick Atkins Non-Executive Chairman
Jingyuan Liu General Manager-Operations & Marketing
Shane Raymond Volk Chief Financial Officer & Secretary
Daniel Lewis Tenardi Non-Executive Director