Himadri Speciality Chemical has announced a further investment in Sicona Battery Technologies Pty Ltd, increasing its stake through the subscription of Compulsorily Convertible Notes (CCNs). The company has already invested AUD 1,04,91,000. This new investment includes an additional AUD 37,03,000 in cash, bringing the total CCN holdings to 1,41,94,000. The investment aims to support Sicona’s growth, with the CCNs eventually convertible into shares.
Additional Investment in Sicona
Himadri Speciality Chemical Ltd has made a further investment in Sicona Battery Technologies Pty Ltd. This decision, approved by the Board of Directors on May 13, 2025, continues the company’s support for Sicona through the subscription of Compulsorily Convertible Notes (CCNs).
Investment Details
The company has initially invested AUD 1,04,91,000 in cash for 1,04,91,000 CCNs, each with a face value of AUD 1.00. An additional AUD 37,03,000 has now been invested for 37,03,000 CCNs, with the remaining balance of 42,53,000 CCNs to be completed in agreed tranches.
Current Holdings
Following this latest investment, Himadri Speciality Chemical now holds a total of 1,41,94,000 CCNs in Sicona. These CCNs, while representing a significant investment, do not currently grant any additional voting rights or control. The CCNs are convertible into shares of Sicona under agreed terms, indicating potential for future equity stake.
Source: BSE
