AGM Applied Graphene Materials Plc

TIDMAGM

RNS Number : 6993U

Applied Graphene Materials PLC

30 March 2023

Correction: Completion of Disposal

The Company advises of minor amendments to the Completion of Disposal announcement it released at 7:00 am on 29 March 2023 (under RNS No. 5409U).

The Company has corrected the date of completion to be 28 March 2023.

All other details remain unchanged. The full amended version is below.

29 March 2023

Applied Graphene Materials plc

("Applied Graphene Materials" or the "Company")

Completion of Disposal

Further to the Company's announcement on 15 March 2023, and pursuant to the circular dated 27 February 2023 (the "Circular"), the Board announces that NSIA approval was obtained on 24 March 2023 and therefore, in line with the terms of the sale and purchase agreement, all conditions have now been satisfied and therefore the Disposal completed on 28 March 2023.

Shareholders are 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 will seek a solvent wind-up pursuant to the reasons set out in the Circular. The Company 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 the AIM Rules for Companies (and as set out in the Circular), upon Completion of the Disposal the Company was classified as an AIM Rule 15 cash shell.

The Board anticipates that, following settlement of advisory fees in connection with the Disposal and ongoing costs associated with the business, the Company will have a minimal net cash position following receipt of proceeds and therefore, is very unlikely to be in a position to return funds to Shareholders. To the extent there are any residual amounts after the costs of the winding up are deducted, then such amounts will be distributed to Shareholders via an appointed liquidator.

Further details of the Disposal, Cancellation and Re-registration are set out in the Circular. Terms defined in the Circular apply throughout this announcement. A copy of the Circular is available on the Company's website, https://www.appliedgraphenematerials.com/ .

For further information, please contact:

Applied Graphene Materials +44 (0) 1642 438 214

Adrian Potts, Chief Executive Officer

David Blain, Chief Financial Officer

   Singer Capital Markets   (Nominated Adviser and Broker) +44 (0) 207 496 3000 

Peter Steel / Alex Bond / Oliver Platts

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DISJLMTTMTJTTFJ

(END) Dow Jones Newswires

March 30, 2023 02:00 ET (06:00 GMT)

Applied Graphene Materials (LSE:AGM)
Gráfica de Acción Histórica
De Oct 2024 a Nov 2024

Applied Graphene Materials (LSE:AGM)
Gráfica de Acción Histórica
De Nov 2023 a Nov 2024