ANR Altona

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:

1. 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.

2. 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.

3. 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:

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.