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Applied Graphene upbeat over progress as product awareness grows

Last updated: 18:20 29 Mar 2023 AEDT, First published: 21:24 25 Mar 2021 AEDT

Snapshot

  • Applied Graphene Materials completes disposal of its primary operating subsidiaries, delisting to follow
  • Applied Graphene Materials able to show chemical resistance benefits of Graphene Dispersions
Graphene

About the company

Applied Graphene Materials PLC works in partnership with its customers using its proprietary “bottom up” process for the production of high specification graphene.

The company owns the intellectual property and know-how behind this process.

AGM provides dispersion and product integration expertise, to deliver solutions for a wide range of applications.

How it is doing

29 Mar 2023

Applied Graphene Materials PLC (AIM:AGM, OTCQX:APGMF) said it has completed the disposal of its primary operating subsidiaries via a US$1.3mln cash deal with Canada's Universal Matter Inc, as announced on 22 February 2023, and it is intended that the remaining shell of the company will be delisted from the London Stock Exchange on 31 March 2023.

Shareholders were reminded that the last day of dealings in the company's ordinary shares on AIM will be 30 March 2023 - notwithstanding the fact that the ordinary shares have been suspended from trading on AIM since 1 February 2023 pending publication of the company's audited annual report and accounts for the year ended 31 July 2022.

Cancellation of the admission of the company's ordinary shares to trading on AIM will become effective on 31 March 2023. Following the cancellation and re-registration, the company said it will seek a solvent wind-up and will not, as a result, be putting in place a matched bargain facility to assist shareholders to trade ordinary shares following cancellation.

In accordance with AIM Rules, upon completion of the disposal the company was classified as an AIM Rule 15 cash shell.

22 Feb 2023

Applied Graphene Materials PLC (AIM:AGM, OTCQX:APGMF) has agreed to sell its primary operating subsidiaries in a US$1.3mln cash deal with Canada's Universal Matter Inc and it is intended that the remaining shell of the company will be delisted from the London Stock Exchange.

The company, in a statement, said that the sale proceeds will be used to pay creditors, staff and cover operating expenses ahead of a subsequent winding up of the company on a solvent basis.

28 Dec 2022

Applied Graphene Materials PLC (AIM:AGM, OTCQX:APGMF) has said it is in talks with a number of “interested parties” who have made non-binding proposals since it launched a strategic review in November this year.

The board, working with advisors Alvarez & Marsal, who were appointed to manage the review, are said to be in discussions with the parties with the aim of eliciting final proposals early next month and whittling this down to a preferred transaction to take to completion.

What management says

07 May 2022

Applied Graphene Materials CEO Adrian Potts joined Steve Darling from Proactive to share news the company has, through successful testing, demonstrated its graphene nanoplatelet dispersions can enable high-performance paints and coatings to protect a substrate against harsh chemicals in highly aggressive environments. Potts telling Proactive the testing shows less blistering and a marked improvement in gloss retention and hardness with the addition of graphene.

Applied Graphene Materials' Jon Mabbitt on their 'protected, proven technology'

Jon Mabbitt, chief executive of Applied Graphene Materials (LON:AGM) tells Proactive's Andrew Scott they have their own proprietary manufacturing technique for making the raw material graphene but a lot of the company's expertise is in how to get that material to deliver on property...

on 9/6/17