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BRIEF-Pure Alumina Updates On Agreement To Acquire Polar Sapphire

Published 26/09/2019, 04:10 pm
BRIEF-Pure Alumina Updates On  Agreement To Acquire Polar Sapphire
PUA
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Sept 26 (Reuters) - Pure Alumina Ltd PUA.AX :

* UPDATES ON AGREEMENT TO ACQUIRE POLAR SAPPHIRE

* CONTINUING TO RECEIVE INVESTOR INTEREST IN POLAR ACQUISITION AND CAPITAL RAISE

* YET TO ACHIEVE REQUIRED $30 MILLION IN COMMITMENTS REQUIRED UNDER ACQUISITION AGREEMENT

* IT IS UNLIKELY THAT CAPITAL RAISE WILL BE ACHIEVED BEFORE 30 SEPTEMBER 2019 ACQUISITION AGREEMENT EXPIRY

* IN TALKS WITH POLAR SAPPHIRE TO EXTEND ACQUISITION AGREEMENT UNDER CERTAIN CIRCUMSTANCES

* REDUCED INTEREST IN BATTERY MATERIALS, DOWNTURN IN LITHIUM STOCKS, US / CHINA TRADE UNCERTAINTIES AND BREXIT IMPACTED CAPITAL RAISE

* NOT YET BEEN ADVISED OF POLAR SAPPHIRE'S INTENTIONS AFTER ACQUISITION AGREEMENT EXPIRES

* CHALLENGING EQUITY MARKETS FROM REDUCED INTEREST IN BATTERY MATERIALS DRIVEN BY DOWNTURN IN LITHIUM STOCKS Source: https:// Further company coverage: PUA.AX

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