Altech Batteries Limited (ASX:ATC) Announces €2.5M Funding Agreement
Funding Agreement
Altech Batteries Limited has secured an agreement with major shareholder Deutsche Balaton AG to provide up to €2.5M in cash funding through Bearer Bonds, subject to shareholder approval.
Bond Terms and Repayment
The Bearer Bonds carry an interest rate of 7.0% per annum and are secured by the Company’s land in Johor, Malaysia. Repayment is expected from the sale of the land, with bonds maturing on 31 October 2026. A shareholder meeting is anticipated for late April 2025 to approve the facility.
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