Applied Graphene Materials PLC Period end trading update and notice of results (9914G)
12 August 2016 - 4:00PM
UK Regulatory
TIDMAGM
RNS Number : 9914G
Applied Graphene Materials PLC
12 August 2016
12 August 2016
Applied Graphene Materials plc
("Applied Graphene Materials", "the Group" or "the Company")
Period end trading update and notice of results
Applied Graphene Materials plc, the producer of specialty
graphene materials, is pleased to provide the following update
ahead of the announcement of its full year results for the year
ended 31 July 2016.
The overall loss before tax of the Group for the year is in line
with the Directors' expectations. Net cash was approximately GBP7.7
million at the year end.
The Group recently announced that it has been able to
demonstrate a six-fold improvement in barrier and anti-corrosion
properties through the use of its own improved graphene material
formulation at low loading levels in anti-corrosion coatings. This
has already resulted in one accelerated product development
programme that is expected to lead to the launch of a new range of
primers in early 2017 and is expected to give rise to other
opportunities in due course.
The Board remains pleased with the operational and commercial
progress achieved and a full update will be provided at the time of
the announcement of the Group's full year results for the year
ended 31 July 2016 which are expected on Monday 17 October
2016.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Ends
For further information, please contact:
Applied Graphene Materials +44 (0) 1642 438 214
Jon Mabbitt, Chief Executive Officer
Oliver Lightowlers, Chief Financial Officer
N+1 Singer +44 (0) 207 496 3000
Richard Lindley / Nick Owen
Hudson Sandler +44 (0) 207 796 4133
Charlie Jack / Emily Dillon
Notes to Editors
Applied Graphene Materials
Applied Graphene Materials was founded by Professor Karl Coleman
in 2010 with its operations and processes based on technology that
he initially developed at Durham University. The Group was admitted
to AIM in November 2013, raising GBP11 million, and is based at the
Wilton Site on Teesside. In January 2016 the Group raised a further
GBP8.5m to support its ongoing activities.
The Group has developed proprietary bottom-up processes which
are capable of producing high purity graphene nanoplatelets using a
continuous process. The manufacturing processes are based on
sustainable, readily available raw materials and therefore do not
rely on the supply of graphite, unlike a number of other graphene
production techniques. Applied Graphene Materials owns the
intellectual property and know-how behind these processes.
Applied Graphene Materials works in partnership with its
customers using its knowledge and expertise to provide bespoke
graphene dispersions and formats to deliver enhancements and
benefits for a wide range of applications.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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