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Graphene NanoChem expects debt restructuring to be complete by middle of second quarter

.Malaysia-based Graphene said last year it plans to restructure its short-term debt of £14.5mln that makes up about 58% of its total debt to financial institutions.
Graphene NanoChem expects debt restructuring to be complete by middle of second quarter
Graphen Nanochem is focused on commercialising nano-technology

Material and chemical specialist Graphene NanoChem plc (LON:GRPH) updated on its debt restructuring exercise, saying it will be completed by the middle of the second quarter.

Malaysia-based Graphene said last year it plans to restructure its short-term debt of £14.5mln that makes up about 58% of its total debt to financial institutions.

Previously it has said the process would be unconditional by the end of the first quarter.

The firm must complete administrative process and other conditions precedent, including the process of non-core asset sales, such as fuel additive assets and its palm oil refinery, were at an advanced stage.

Shares shed around 12% to 3.82p.

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Graphene NanoChem plc Timeline

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