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 Pty Ltd through Compulsorily Convertible Notes (CCNs). With this, the company has cumulatively invested AUD 1,67,53,000 holding 1,67,53,000 CCNs. The balance investment of 16,94,000 CCNs will be made in agreed future tranches. Since the investment is via CCNs, no additional voting rights or control has been acquired currently, though the notes will convert into Sicona shares as per agreed terms.
This indicates continued deployment of capital into a battery technology venture, consistent with Himadri's diversification strategy into EV/energy storage materials. No immediate shareholder dilution or control change occurs since CCNs do not confer voting rights until conversion.