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Altech Advanced Materials AG: Cancellation of the Annual General Meeting on April 30, 2020 and new convening of an Annual General Meeting

as a virtual Annual General Meeting also for April 30, 2020

Heidelberg (pta024/06.04.2020/15:00 UTC+2) Altech Advanced Materials AG ("AAM"; FRA: AMA1) hereby announces the cancellation of the Annual General Meeting scheduled for April 30, 2020 with physical presence of shareholders. At the same time, AAM announces to convene a General Meeting without physical presence of shareholders for April 30, 2020, 1:00 p.m., i.e. on the same day and at the same time.

As a result of the restrictions on public life associated with the Corona pandemic, it is currently neither possible nor advisable to hold a general meeting with physical presence of shareholders. However, the Act on Measures in Corporate, Cooperative, Association, Foundation and Home Ownership Law to Combat the Effects of the COVID 19 Pandemic ("GesRuaCOVBekG") has created the possibility of holding general meetings in 2020 as so-called virtual general meetings without the physical presence of shareholders (§ 1 para. 2 GesRuaCOVBekG) and shortening the summons periods (§ 1 para. 3 GesRuaCOVBekG).

AAM has decided to take advantage of this possibility and to convene a general meeting according to the provisions of GesRuaCOVBekG without the physical presence of the shareholders pursuant to § 1 para. 2 GesRuaCOVBekG and with a shortening of the summons periods pursuant to § 1 para. 3 GesRuaCOVBekG. The agenda of this Annual General Meeting essentially corresponds to the Annual General Meeting originally planned for April 30. The only additional topic that is now to be resolved is an amendment to the Articles of Association that creates an authorization for the Management Board ("Vorstand") to enable shareholders to participate online in the Annual General Meeting in accordance with section 118 (1) AktG and to enable voting by postal vote or electronic communication in accordance with section 118 (2) AktG.

The Management Board

About Altech Advanced Materials AG

Altech Advanced Materials AG ("AAM") currently plans to subscribe up to 49% in Altech Chemicals Australia PTY LTD ("Altech Australia") for up to USD 100 million from Altech. AAM is currently implementing its capital raising strategy to be able to fund the investment.

Altech Australia is currently building a high-purity alumina (99.99%, 4N HPA) production facility for 4,500 tons p.a. in Malaysia and also has its own deposit for the mining of the main raw material kaolin. 4N HPA is needed for the production of LED lights as well as a separator for lithium-ion batteries, e.g. needed for electric vehicles and smartphones. Market demand for 4N HPA is expected to grow with a CAGR of 30% p.a. until 2028. The process patented by Altech Australia allows the production of HPA as cost leader, as the HPA can be obtained directly from kaolin. This allows production without the use of energy-intensive aluminium. The production volume for the first 10 years is secured by an off-take agreement with Mitsubishi Australia and the production capacity and quality is guaranteed by the German plant manufacturer, SMS group GmbH, Dusseldorf, which has also agreed to contribute in equity to the Altech HPA project.

The project has an investment volume of approximately USD 390 million, of which KfW-IPEX Bank has already committed USD 190 million under certain conditions and of which USD 10 million is assumed as equity investment from SMS group GmbH. Altech Chemicals is in talks with Macquarie Bank on the provision of USD 90 million in mezzanine capital. The remaining USD 100 million is to be made available by AAM.


Emitter: Altech Advanced Materials AG
Ziegelhäuser Landstraße 3
69120 Heidelberg
Contact Person: Hansjörg Plaggemars
Phone: +49 6221 64924-0
ISIN(s): DE000A2BPG14 (Share) DE000A2LQUJ6 (Share)
Stock Exchange(s): Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf