3rd Aug 2009 07:30
Altona Energy Plc / Index: AIM / Epic: ANR / Sector: Exploration & Production
3rd August 2009
Altona Energy Plc ('Altona Energy' or 'the Company')
Placement to Invesco Perpetual
Following the Placing, Invesco will have an interest in 12,195,122 ordinary shares of the Company, representing 3.29 % of Altona's issued share capital.
The Placing is conditional on the admission of the Placing Shares to trading on AIM. Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM and it is expected this admission will become effective and that trading in the new ordinary shares will commence on 7 August 2009.
The total number of ordinary shares in issue following the Placing will be 370,360,906.
Altona Chairman Chris Lambert said, "We are delighted to welcome an institutional investor of the stature of Invesco as a new significant shareholder, and to have completed this share placement to raise additional working capital at a premium to the current share price."
**ENDS**
For further information visit www.altonaenergy.com or please contact:
|
Christopher Lambert |
Altona Chairman |
Tel: +44 (0) 207 024 8391 |
|
Christopher Schrape |
Altona Managing Director |
Tel: +44 (0) 207 024 8391 |
|
Samantha Harrison |
Ambrian Partners Limited |
Tel: +44 (0) 207 634 4705 |
|
Chris Welsh |
St Brides Media & Finance Ltd |
Tel: +44 (0) 207 236 1177 |
|
Hugo de Salis |
St Brides Media & Finance Ltd |
Tel: +44 (0) 207 236 1177 |
Notes to Editors:
About Altona
Altona Energy Plc is an Australian based energy company that was admitted to trading on AIM in March 2005. It's primary focus to date has been the completion of a bankable feasibility study for its wholly owned Arckaringa Project for an integrated 10 million barrel per year Coal to Liquid ('CTL') plant with a 560 MW co-generation power facility.
The Company holds, through its wholly owned subsidiary Arckaringa Energy Pty Ltd, a 100% interest in three exploration licences covering 2,500 sq. kms in the northern portion of the Permian Arckaringa Basin in South Australia. These include three coal deposits, Westfield (EL3360), Wintinna (EL3361) and Murloocoppie (EL3362). All three lie close to the Adelaide to Darwin railway and the Stuart Highway. Containing more than 7.5 billion tonnes of coal (based on non-JORC standards), these coal deposits are effectively one of the world's largest undeveloped energy banks, capable of conversion into clean liquid fuels, low cost power and high value industrial feedstocks.
About Coal-to-Liquids (also see www.altonaenergy.com)
CTL is a proven technology which converts coal into more environmentally clean and manageable energy sources including gas and synthetic fuels. The process involves two major stages, gasification to produce synthetic gas ("Syngas") rich in hydrogen and carbon, and a liquefication stage where the Syngas is reacted over a catalyst to produce high quality, ultraclean synthetic fuels and chemical feedstocks.
CTL is a prime example of clean coal technology - the associated combined cycle units produce negligible sulphur oxides, significantly less nitrogen oxides and 10 - 20% less CO2 per unit of power generated than a conventional coal fired plant, whilst carbon capture and storage offers the potential to reduce the overall greenhouse gas emissions from CTL to below the "well to wheel" level of fuels derived from crude oil.
The technology is best demonstrated in South Africa, where currently 30% of the country's gasoline and diesel fuel needs are met through CTL plants.
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