AI assistant
ALTECH BATTERIES LTD — Capital/Financing Update 2010
Apr 27, 2010
64444_rns_2010-04-27_e4e3ae0e-c520-47a1-b3b3-6e18641dff5e.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ASX Announcement / Media Release
28 April 2010
COMPLETION OF NON-RENOUNCEABLE ENTITLEMENT ISSUE
The Board of Australia Minerals & Mining Group Ltd (AMMG) ( ASX: AKA ) is pleased to confirm the successful completion of the one-for two non-renounceable entitlement issue of Options (being one (1) Option for every two (2) shares held), pursuant to the Company’s prospectus dated 25 March 2010.
86% of the 41,987,501 options available under the Entitlement Issue were taken up and the board has agreed to place the remaining 6,031,259 Options with clients of CPS Securities, ensuring 100% of the Options will be taken up.
The Chairman Luke Atkins said “We are very pleased with this take-up of the offer from shareholders which demonstrates strong continued support for the Company”
The securities are currently trading on a deferred settlement basis with the ASX code (AKAO). Securities will be dispatched by 3[rd] May 2010, and normal trading will commence on 4 May 2010.
The Options issued under the Rights Issue will have an exercise price of 20 cents any time prior to the expiry date of 30 October 2011.
Contact
Media and investor contact :
Sam Middlemas Company Secretary Mob 0419 936 040 Tel (08) 9389 5557
David Brook Mob 0418 904 397 Tel (08) 9389 5557 [email protected] www.ammg.com.au
3 Bay Rd, Claremont WA 6010, Phone (08) 9389 5557 Fax (08)9389 5510 www.ammg.com.au ABN 125301206
Australian Minerals & Mining Group (AMMG) - Background
AMMG is a dynamic exploration group focused on generating shareholder wealth by adding value to its diversified suite of mineral exploration projects.
AMMG was incorporated on 8th May 2007 for the purpose of securing tenements over land that had been subject to historical exploration and where significant geological data was available and / or the land was considered sufficiently prospective due to proximity to existing resources and infrastructure.
AMMG listed on the ASX on 27 January 2010 after closing its $5 million IPO early and oversubscribed, raising $7.5 million.
The Company has identified eight separate project areas, located in Western Australia and Queensland, which the Directors believe may have the potential for the realisation of resources of these commodities - iron ore, gypsum, mineral sands, salt, kaolin and gold.
The Company has four granted tenements and 29 applications for tenements covering approximately 5,300 square kilometres over the eight project areas .
The Company aims to identify sufficient resources of bulk mineral commodities to develop its diversified projects either internally or with suitable strategic joint venture partners leveraging off its strong international networks and the robust growth fundamentals in China .