Himadri Speciality Chemical Limited has informed the Exchange about update on investment in Sicona Battery Technologies Pty Ltd
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Himadri Speciality Chemical has made an additional investment of AUD 25,59,000 in Sicona Battery Technologies through subscription of Compulsorily Convertible Notes (CCNs). The cumulative investment now stands at AUD 1,67,53,000 (1,67,53,000 CCNs of AUD 1 each). An additional AUD 16,94,000 in CCNs will be invested in agreed future tranches. Since the investment is in convertible note form, the company has not acquired any additional voting rights or control over Sicona at present. The CCNs will convert into equity shares as per agreed terms.
This is a strategic investment in battery technology, aligning with Himadri's diversification into clean energy and EV-related sectors. No immediate impact on shareholder control or voting rights since it's through convertible instruments, but signals continued commitment to the battery technology space.