Altech Chemicals : Entitlement Offer-Letter to Ineligible Shareholders

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.

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