Graphene NanoChem Says Debt Restructuring Will Be Finished By Middle Of Second Quarter

Graphene NanoChem Says Debt Restructuring Will Be Finished By Middle Of Second Quarter - Companies Featured Financial Grapheneaterial and chemical company Graphene NanoChem plc (LON:GRPH) has released an update on its debt restructuring exercise, saying it should be finished by the middle of the second quarter.

Graphene NanoChem Says Debt Restructuring Will Be Finished By Middle Of Second Quarter - Companies Featured Financial Graphene

Malaysia-based NanoChem stated last year that it planned to restructure its short-term debt of £14.5mln that makes up about 58% of its total debt to institutions.

Previously the company stated 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.

Source: proactiveinvestors.co.uk

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