Heidelberg (pta044/20.04.2021/17:05) - Altech Advanced Materials AG ("AAM / the Company",) (FRA: AMA1) had entered into an option agreement with Altech Chemicals Limited ("ATC"), a public company listed in Australia, and Altech Chemicals Australia PTY LTD ("Altech Australia") on July 17, 2019, which allows AAM to acquire up to 49% interest in Altech Australia's high purity alumina project ("HPA") for up to USD100 million. The option expiry date has been July 1, 2021 after its prolongation on 23. December 2020. AAM, ATC and Altech Australia today agreed to further extend the option agreement for 12 months on the same terms, until July 1, 2022.
Furthermore, AAM has today entered into agreements with ATC which, subject to certain conditions, allow AAM to defer the Company's obligation to pay the remaining purchase price for the investment in Altech Industries Germany GmbH (see the ad hoc announcements dated 26 October and 23 December 2020) and the obligation to continue financing Altech Industries Germany GmbH.
The Executive Board(end)
|emitter:||Altech Advanced Materials AG|
Ziegelhäuser Landstraße 3
|contact person:||Hansjörg Plaggemars|
|phone:||+49 6221 64924-0|
|stock exchanges:||regulated market in Frankfurt; free market in Dusseldorf; open market in Berlin|