Himadri Speciality Chemical Announces Further Investment in Sicona Battery Technologies
Himadri Speciality Chemical Limited, formerly Himadri Chemicals & Industries Limited, has announced a strategic increase in its investment in Sicona Battery Technologies Pty Ltd (Sicona). The investment involves the subscription of Compulsorily Convertible Notes (CCNs).The Company previously informed the public that its Board of Directors had approved further investment in Sicona through the acquisition of CCNs in agreed tranches.
In the latest phase of investment, Himadri Speciality Chemical Limited has invested AUD 25,59,000 in cash. This capital facilitated the subscription of 25,59,000 CCNs, each having a face value of AUD 1.00.
This new investment builds upon the Company's prior contribution, where it had already invested AUD 1,41,94,000 in cash for 1,41,94,000 CCNs of face value AUD 1.00 each.
The Company stated that the investment in the balance 16,94,000 CCNs will be executed in further agreed tranches.
Himadri Speciality Chemical Limited now holds a cumulative total of 1,67,53,000 CCNs in Sicona.
The nature of the investment, being in the form of CCNs, means that the Company has not acquired any additional voting rights or control in Sicona at present. The CCNs are structured to be convertible into shares of Sicona as per the agreed terms.
The details of the investments are summarized below:
| Investment Stage | Amount Invested (Cash) | Notes Subscribed | Face Value per Note |
|---|---|---|---|
| Previous Investment | AUD 1,41,94,000 | 1,41,94,000 CCNs | AUD 1.00 |
| Current Investment | AUD 25,59,000 | 25,59,000 CCNs | AUD 1.00 |
| Cumulative Total | N/A | 1,67,53,000 CCNs | N/A |
HSCL Stock Price Movement
Today, Himadri Speciality Chemical Limited shares edged higher to close at ₹563.75, finishing the session with a strong 1.70% gain. The stock showed notable market interest throughout the day, recording a substantial volume of 20.87 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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