Jan 14 (Reuters) - Energy Technologies Limited EGY.AX :
* UPDATES ON PROPOSED RECAPITALISATION
* CO AND LENDERS HAVE AGREED TO CONVERT ALL OF THEIR EXISTING UNREDEEMED AND UNCONVERTED DEBT INTO ORDINARY SHARES IN CO
* CO AND BWC HAVE ENTERED INTO SALE AND PURCHASE AGREEMENTS TO ACQUIRE PLANT AND EQUIPMENT FROM ADVANCE CABLES PTY LTD
* UNIT, BWC, HAS SECURED A $2.9 MILLION GRANT UNDER FEDERAL GOVERNMENT REGIONAL JOBS AND INVESTMENT PACKAGE
* CO WILL UNDERTAKE A PLACEMENT TO RAISE UP TO $5 MILLION
* COMPANY WILL UNDERTAKE A PLACEMENT TO RAISE UP TO $5 MILLION
* BWC WILL PAY ADVANCE CABLES $2.9 MILLION FOR ACQUIRED PLANT AND EQUIPMENT