("Altona" or the "Company")
Admission to the NEX Exchange Growth Market
Subscription for £500,000 of Loan Notes
Altona (NEX: ANR) is pleased to announce that its entire issued share capital of 1,558,957 ordinary shares of 10p each (“Ordinary Shares”) have been admitted to trading on the NEX Exchange Growth Market (“NEX”), with effect from
The Company has appointed
The Directors, having taken all reasonable care to ensure that such is the case, warrant that the information contained in this announcement is, to the best of their knowledge, in accordance with the facts and contains no omission likely to affect its import. Likewise, they also confirm that the information not contained within this announcement, but required by the NEX Rules, is available in the public domain and accessible by visiting the Company’s website per the below.
“Although the Company has been through a difficult period in the past 15 months, the role for the board of directors is clear; to assemble a team of experienced professionals who can commit to, and execute, the ambitious strategy that I have been working towards for the past few months.
“This strategy is twofold; firstly, to introduce a vanadium mining project to the Company, the structure of which we are working on currently and we expect to make a more detailed announcement on this exciting project at a later date; and secondly, to reinvigorate our coal to chemical project at Arckaringa in
“We know we face challenges over the next two years, but with our shareholders continued support, we believe we can secure the funding and build the right team to bring these two significant projects to maturity and finally generate revenues for Altona; something which the Company has not been able to achieve in its long history.
“Finally, we would like to welcome
For further information, please visit www.altonaenergy.com or contact:
Altona Energy plc Qinfu Zhang, Executive Director +44 (0) 7795 168 157 Alfred Henry Corporate Finance Ltd(NEX Corporate Adviser) Jon Isaacs/ Nick Michaels+44 (0) 20 3772 0021 Leander (Financial PR) Christian Taylor- Wilkinson +44 (0) 7795 168 157
Altona is an exploration company focused on the evaluation and development of its significant coal resource exceeding 7 billion tonnes (1.3 billion tonnes historic JORC compliant) in the northern portion of the
The Company was admitted to trading on AIM on
Further to the announcements made by the Company on
Shareholders wishing to continue trading in
The Ordinary Shares are eligible for CREST settlement. There are no restrictions on the transfer of Ordinary Shares. The Company is subject to the
Details of the Directors
Christian (aged 49) has been appointed a non-executive Director of the board with immediate effect. He has been closely associated with Altona since 2014, as the financial PR adviser to the Company, through his agency, Leander PR, which he founded in 2009. He has spent his professional career in the City and has over 23 years’ experience advising and working alongside companies of differing sizes and across many sectors, and where he has built up a solid reputation and contact base within the small-cap arena.
His background spans investment banking (as a corporate broker at
The Company is in discussions with a number of candidates to appoint a second
The Notes are convertible at any time prior to their final redemption date of
The conversion price is to be the average middle market price at which the Company’s ordinary shares are traded during the twenty business days immediately preceding conversion, subject to a minimum conversion price of 10p (being the nominal value of the ordinary shares). The conversion right is not however, exercisable in circumstances in which the aggregate beneficial interests in the Company’s equity securities, of Sino-Aus and others treated under the Takeover Code as acting in concert with Sino-Aus, would exceed 29.9 per of the Company’s issued ordinary share capital, if conversion took place.
The Loan Note Instrument constituting the Notes contains usual events of default provisions.
The Notes will not be traded on any stock exchange.
Registered Office and
The Company’s Registered Office is:
The Company’s principal place of business is
The percentage of Ordinary Shares not in public hands as at
Name of shareholder / Number of Percentage of enlarged issued director Ordinary Shares held share capital Wintask Group Ltd* 230,000 14.75 Sino-Aus Energy Group 100,000 6.41 Limited* Christian Taylor-Wilkinson 3,000 0.20
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.