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Applied Graphene Materials shares rise ahead of AGM

"The board remains pleased with the progress that the group is making towards the commercialisation of its products and proprietary technologies," said chairman, Bryan Dobson

Representation of graphene, a nano-material
The Graphene stock rose around 8%

Applied Graphene Materials Plc (LON:AGM) shares advanced around 8% to 47.4p in Wednesday morning’s deals, ahead of the group’s annual general meeting.

Chairman, Bryan Dobson, said in a statement today that: "The board remains pleased with the progress that the group is making towards the commercialisation of its products and proprietary technologies; funding customer collaborations and joint development activity as well as continuing to target further production orders.

READ: Applied Graphene Materials is already ramping up revenues from paint and other composites

“Following on from our initial production orders the business secured additional production orders in 2017."

“Whilst the magnitude of these orders is not large, they represent important milestones in the development of the company.”

Dobson told investors that the number of ‘active engagements’ had increased significantly in the year, with the figure currently standing at around 100, and the company is now targeting further production orders as it seeks to convert the opportunities into production orders.

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This remains the greatest ongoing priority for the group, he highlighted.

He also told investors that, following an October raise, the group is now “well funded” to capitalise on the targeted opportunities.

Quick facts: Applied Graphene Materials PLC

Price: 29 GBX

AIM:AGM
Market: AIM
Market Cap: £14.41 m
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