31 Jan 2018 13:47
For Immediate Release | 31 January 2018 |
Graphene NanoChem PLC
("Graphene NanoChem" or the "Group" or the "Company")
Notice of Resignation of Nomad and Broker
Graphene NanoChem (AIM:GRPH), the international provider of nanotechnology performance enhancing solutions for global industries, announces that Panmure Gordon (UK) Limited ("Panmure") has served notice, which has been mutually agreed by the Company, to terminate its engagement with the Company as its current nominated adviser ("Nomad") and broker. Termination will not be effective until 16 February 2018 (the "Effective Date"), and as such, Panmure shall remain the Company's Nomad until then, unless the Company appoints a replacement Nomad beforehand.
The Company is aware of its obligations regarding the appointment (and continued appointment) of a Nomad under AIM Rule 1. Should the Company fail to appoint a replacement Nomad within one month of the Effective Date, trading in the Company's securities on AIM will be cancelled.
The Company's securities remain suspended on AIM pursuant to the announcement dated 30 November 2017. The Company shall provide updates as appropriate but it is currently anticipated that the Company will need to appoint a replacement Nomad pursuant to AIM Rule 1 prior to any publication of the required AIM Admission Document by Graphene NanoChem pursuant to the Proposed Acquisition (or an announcement that the Proposed Acquisition is no longer proceeding). Pursuant to AIM Rule 41, the Exchange will cancel admission of a Company's securities where trading in them has been suspended for more than six months.
Whilst negotiations are at an advanced stage, there can be no certainty that the Proposed Acquisition will be concluded successfully and Graphene NanoChem will update shareholders as the matter progresses. The Group continues to manage its working capital position prudently in order to continue trading as a going concern.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information:
Graphene NanoChem | Tel: +603 2282 3080 |
Jespal Deol, Chief Executive Officer | |
Panmure Gordon (NOMAD and Broker) | Tel: +44 (0) 20 7886 2500 |
Adam James / Tom Salvesen | |
Yellow Jersey PR Limited (Media) | Tel: +44 (0) 75 4427 5882 |
Charles Goodwin / Harriet Jackson |