19 March
2020
ALTONA ENERGY PLC
(“Altona” or “the Company”)
Update Re Open Offer
and further
Information
Following a number of enquires by shareholders with regards to
the Open Offer, the Board of Altona wish to make the following
points:
-
If you did not receive an Application Form in the post (along
with the Open Offer Circular) it is because you hold your shares in
a stockbroker’s Nominee account and, should you wish to subscribe
for new shares in the Open Offer, you must call your stockbroker to
instruct them to make the application on your behalf.
-
Only shareholders who own Altona shares in their own name (ie,
you are the registered owner) will have received an
Application Form and can apply directly for the offer.
-
For the Open Offer to be deemed successful, the Company is
looking to raise £400,000. For this to happen, the Board is asking
its shareholders to take up their Excess Entitlement (rather than
just the Basic Entitlement). This is due to the market
capitalisation of the Company being only £100,000 and the Board is
looking to raise £400,000.
The Board can report that at its shareholder conference call
held on 18 March, a number of shareholders were present and
John King, the representative
geologist from WSP Australia, the Company’s mining engineers, set
out the logic behind the new project and expressed his “excitement”
in exploring areas within PELA 517 which have never been explored
before. His assumptions are based on his many years’ experience as
a geologist in the local area and also the available data from
neighbouring tenements showing coal deposits at depth.
Finally, if shareholders are still uncertain whether to
subscribe for shares in the Open Offer and wish to find out more
information on the In-Situ Gasification project which the Company
is hoping to commence, please contact Christian Taylor-Wilkinson via email:
ctw@leanderPR.com or telephone: +44 (0)7795 168 157.
For further information, please visit www.altonaenergy.com or
contact:
Altona Energy
plc
Christian Taylor-Wilkinson, Non-Executive Director
Philip Sutherland, Non-Executive Director |
+44 (0) 7795 168 157
+61 (0)402 440 339 |
Alfred Henry
Corporate Finance Ltd (NEX Corporate Adviser)
Jon Isaacs / Nick Michaels |
+44 (0) 20 3772 0021 |
|
|
Leander (Financial
PR)
|
+44 (0) 7795 168 157 |
Company Information
Altona is an exploration company focused on the evaluation,
development and extraction of coal assets in South Australia though the process of in-situ
gasification.
The Company was admitted to trading on AIM on 10 March 2005 and was subsequently admitted to
NEX on 1 February 2019. A copy of its admission documents
dated 4 March 2005 can be accessed on
its website, www.altonaenergy.com. This website is where
items can be inspected under Rule 75 of the NEX Rules for Issuers,
from 1 February 2019.