Himadri Speciality Chemical has announced an additional investment of AUD 25,59,000 in Sicona Battery Technologies Pty Ltd. This investment is part of the company’s ongoing commitment to Sicona, following a previous investment of AUD 1,41,94,000.
The latest investment involves the subscription of 25,59,000 Compulsorily Convertible Notes (CCNs) at a face value of AUD 1.00 each. With this new tranche, Himadri Speciality Chemical now holds a cumulative total of 1,67,53,000 CCNs in Sicona.
The investment strategy involves acquiring CCNs, which do not grant Himadri Speciality Chemical additional voting rights or control over Sicona at this stage. The CCNs are set to be converted into shares of Sicona under agreed terms in the future.
Himadri Speciality Chemical had previously communicated the details of this investment strategy to the stock exchanges, with no changes to the initial disclosure except for the recent update.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).