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ALTECH BATTERIES LTD — Capital/Financing Update 2010
Mar 24, 2010
64444_rns_2010-03-24_27f2c40d-da38-43dd-843b-6b2a12e6b331.pdf
Capital/Financing Update
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ASX Announcement / Media Release
25 February 2010
AMMG TO OFFER ENTITLEMENT OPTIONS TO SHAREHOLDERS
Highlights
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Confirms 1-for-2 issue of options expiring 30 October 2011.
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Exercise price is 20 cents; price payable on application for each option is 1 cent.
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Shareholders registered at 5.00pm WST on 7 April 2010 will be entitled to participate.
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Options anticipated to commence trading on ASX on or about 23 April 2010.
The Board of Australia Minerals & Mining Group Ltd (AMMG) ( ASX: AKA ) is pleased to confirm the opportunity for Shareholders to participate in a pro-rata non-renounceable rights issue of Options as outlined in the IPO Replacement Prospectus ( Rights Issue) .
All Shareholders registered at 5.00pm WST on 7 April 2010 will be entitled to participate in the Rights Issue on a one-for-two basis (being, one (1) Option for every two (2) Shares held at that time). The price payable on application for each Option is 1 cent . 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.
The Company will lodge a Prospectus for the issue of the Options with the Australian Investment and Securities Commission (ASIC). Eligible shareholders who wish to subscribe for the Options will need to complete and return the personalised Application Form that will accompany the Prospectus.
The Closing Date for acceptances is anticipated to be 5.00pm WST on 22 April 2010.
Application for official quotation of the Options by the ASX will be made and trading is expected to commence on or about 23 April 2010.
The Rights Issue will raise approximately $420,000. Funds raised will be applied to exploration and working capital.
The Board intends to take up its full entitlements and recommends all Shareholders take up their entitlement.
3 Bay Rd, Claremont WA 6010, Phone (08) 9389 5557 Fax (08)9389 5510 www.ammg.com.au ABN 125301206
Timetable and important dates*
| EVENT | DATE |
|---|---|
| Prospectus lodged with the ASIC | 25 March 2010 |
| Notice in relation to the Rights Issue dispatched to Shareholders | 29 March 2010 |
| Shares quoted on an “ex” basis | 30 March 2010 |
| Record Date for determining entitlements to Options under Rights Issue | 7 April 2010 |
| Despatch Prospectus / Anticipated Opening Date | 8 April 2010 |
| Anticipated Closing Date | 22 April 2010 |
| Expected date for Options to be quoted on a deferred settlement basis | 23 April 2010 |
| Expected end date for Deferred settlement trading, holding statements | 3 May 2010 |
| despatched and normal trading commences |
- Key dates are indicative only. The Directors may extend the Closing Date by giving at least 6 Business Days notice to the ASX prior to the closing date. As such, the date the Options are expected to commence trading on ASX may vary.
| ContactSam MiddlemasCompany SecretaryMob 0419 936 040Tel (08) 9389 5557 | Media and investor contact:David BrookMob 0418 904 397Tel (08) 9389 5557[email protected]www.ammg.com.au |
|---|
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 31 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 .