LONDON (Alliance News) - Graphene NanoChem PLC on Thursday said it now expects to publish its delayed 2015 results this month.
It had initially planned to publish them in August, but this was delayed as the graphene commercialization company worked to finalise a "significant milestone" of its rationalisation plan.
Graphene NanoChem said it had now achieved the second milestone in its restructuring programme, and has received the final draft agreement from its primary financier, Malaysian Debt Ventures Bhd, approving the restructuring of its short-term debt of GBP14.5 million. This makes up around 58% of the company's total debt to financial institutions.
The planned realisation and sale of its non-core assets - its fuel additive assets and palm oil refinery - are at an advanced stage, Graphene NanoChem said.
Shares in the company remain suspended on AIM due to the delay in filing accounts.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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