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Altech Batteries Limited (ASX:ATC)

ALERT: Price-sensitive ASX Announcement for ATC
Current share price for ATC : $0.008 0.002 (33.33%)+
Announcement
Release
29 Jun 2026 8:19AM
Price at Release
$0.006
Full Release
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Summary
Altech Batteries Limited announced the sale of its land in Meckering, Western Australia, for $950,000, classifying it as a non-core asset. The sale proceeds will provide working capital. Altech retained the mining lease M70/1334 and signed an agreement with the land's new owner to ensure continued mining operations. Major shareholder Deutsche Balaton AG discharged a mortgage on the property in exchange for a $500,000 bank guarantee as security for outstanding bearer bonds due later in 2026. Altech is also looking to sell land in Johor, Malaysia to repay its debts.
Key Points
  • Altech Batteries Limited sold its land in Meckering, Western Australia for $950,000.
  • The land was considered a non-core asset and its sale provided working capital for Altech.
  • Altech retained the mining lease M70/1334 and entered into an Exploration, Mining, Access, Compensation, and Option to Purchase Agreement with the new landowner.
  • Deutsche Balaton AG, a major shareholder, discharged the mortgage on the sold land in exchange for a $500,000 bank guarantee related to Altech's debt obligations.
  • Altech aims to sell land in Johor, Malaysia to repay bearer bonds due on 31 October 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.