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DJ Altona Energy Plc Update Re: Open Offer

 
TIDMANR 
 
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 
    GBP400,000. 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 GBP100,000 and 
    the Board is looking to raise GBP400,000. 
 
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         +44 (0) 7795 168 157 
Director                                          +61 (0)402 440 339 
Philip Sutherland, Non-Executive Director 
 
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. 
 
 
 
END 
 

(END) Dow Jones Newswires

March 19, 2020 03:00 ET (07:00 GMT)