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ENVIRONMENTAL CLEAN TECHNOLOGIES LIMITED. — Capital/Financing Update 2021
Jun 8, 2021
64819_rns_2021-06-08_8585646f-a446-418f-b9fb-a7622630ca77.pdf
Capital/Financing Update
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Results of Share Purchase Plan
9 June 2021: Environmental Clean Technologies Limited (ASX: ECT) (ECT or Company) recently announced the closure of its Share Purchase Plan (SPP) on Friday 4 June 2021, and confirms the results as follows:
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Total number of shares applied for 246,625,000
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• Value of shares applied for $394,600 • Maximum shortfall shares yet to be placed 1,003,375,000 • Maximum value of shortfall shares to be issued $1,605,400
The issue of the 246,625,000 shares is expected to be completed on Tuesday 15 June 2021.
Shortfall Program
As detailed in the Share Purchase Plan (SPP) booklet released on 24 May 2021, Kaai Pty Ltd ( Kaai ) will manage the placement of the Shortfall under the SPP.
Kaai were appointed the Lead Manager of the Placement of $1.5 million, announced on 7 April 2021.
SPP Shortfall Shares will only be placed to sophisticated, professional or exempt investors and is subject to compliance with ASX Listing Rule 7.1. The Company will seek Shareholder approval for the issue of any Shortfall SPP Shares at its upcoming general meeting, scheduled for 10am, Friday 25 June 2021.
This announcement has been approved for release by the Board.
For further information, contact:
Glenn Fozard – Chairman [email protected]
About ECT
ECT is in the business of commercialising leading-edge energy and resource technologies, which are capable of delivering financial and environmental benefits.
We are focused on advancing a portfolio of technologies, which have significant market potential globally.
ECT’s business plan is to pragmatically commercialise these technologies and secure sustainable, profitable income streams through licensing and other commercial mechanisms.
About Coldry
Coldry is the gateway enabler of higher-value applications for low rank coals.
Low rank coals are a rich source of valuable hydrocarbons but suffer from high moisture content that must be reduced to enable higher-value upgrading and conversion to solid fuels, liquid or gaseous hydrocarbons.
Drying is easy. However, drying efficiently and cost effectively has been the challenge. Coldry meets this challenge through a combination of ‘brown coal densification’ and waste heat utilisation, delivering the world’s first low temperature, low pressure, low cost, zero CO2 emissions drying process.
About HydroMOR
The HydroMOR process has the potential to revolutionise primary iron making.
HydroMOR is a simple, low cost, low emission, hydrogen-driven technology which enables the use of ‘low value’ feedstocks to produce primary iron.
388 Punt Road, South Yarra, VIC 3141 Australia | Phone +613 9849 6203| www.ectltd.com.au | ABN 28 009 120 405 Listed on the Australian Stock Exchange (ASX:ECT)
About COHgen
The COHgen process has the potential to deliver a lower cost, lower emission method for hydrogen production from brown coal.
COHgen is currently advancing through fundamental laboratory development intended to form the basis for a patent application ahead of scale up and commercialisation.
About CDP-WTE
The catalytic depolymerisation-based waste-to-energy process converts ‘low-value’ resources into higher-value diesel and other valuable by-products.
CDP-WTE can be deployed as a standalone solution or integrated with the Coldry process to deliver higher-value, lower-emission energy solutions to lignite resource owners.
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