anr13 Dec 2017 15:47
Notice of General Meeting
The Board of Altona (AIM: ANR) announces that it has conditionally raised £210,000 before expenses through a placing of 420,000,000 new ordinary shares (“Placing Sharesâ€) at an issue price of 0.05p per share (the “Placingâ€). The Placing is conditional, inter alia, on the approval of shareholders at a General Meeting of the Company further details of which are set out below.
Background to and reasons for the Placing
On 25 September 2017 the Company announced that further studies were required at the Arckaringa coal project to establish the presence of dry coal in any of the areas covered by the Company’s exploration licences.  In addition, also on 25 September 2017, the Company announced that a default judgment had been entered against the Company for £238,680.68 in respect of a claim by a former director, who has alleged entitlement to a termination payment under a settlement agreement.  On 11 October 2017, the Company announced that it had been successful in its application to the court to set aside the default judgment, which is consequently no longer a current liability for Altona.  The Company will now proceed with its defence against