Update on pending 2015 Annual Results

For immediate release 1 September 2016

The information communicated in this announcement is inside information for the purposes of Article 7 of Market Abuse Regulation 596/2014 ("MAR"). 

Graphene NanoChem PLC

("Graphene NanoChem" or the "Group")

Update on pending 2015 Annual Results and financial restructuring update

Graphene NanoChem (AIM:GRPH), the international provider of nanotechnology performance enhancing solutions for global industries, today provides shareholders with an update on the delay of publishing its annual audited accounts for the year ended 31 December 2015. The Company now anticipates publishing its annual results in September 2016.

The Group has now achieved its 2nd milestone in its restructuring programme and is in receipt of the final draft agreement approving the restructuring from its primary financier, Malaysian Debt Ventures Berhad ("MDV"), for the restructuring of Graphene NanoChem's short term debt of £14.5 million ("MDV Restructuring Approval") that constitutes c.58% of the Group's total debt to financial institutions.

The salient terms of the MDV restructuring approval include:

· A two (2) year payment moratorium up to 31 December 2017;

· An extended maturity date from November 2015 to December 2021; and

· A pay down in the aggregate amount of £315,000 only in 2016 and 2017 respectively.

Execution of the agreement is anticipated in the very near term, thereby enabling completion and finalization of the audit shortly thereafter.

The Group's 1st milestone of its debt restructuring plan with its remaining secured financiers, Bank Pembangunan Malaysia Behad ("BPMB") and Bank Rakyat, constitutes c.48% of the total debt to financial institutions. The planned realisation and disposal of its non-core assets namely the fuel additive assets and the palm oil refinery, are at an advanced stage.

BPMB has appointed KPMG as receivers in the process for the disposal of the fuel additive assets and the Group is in advanced discussions with Bank Rakyat for a common undertaking for the sale of the palm oil refinery via a tender process.

As stated in the announcement dated July 2016, the Group had expected to publish its annual audited accounts and the annual report during August 2016. However, this is now expected to be published in September 2016.

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About Graphene NanoChem

Graphene Nanochem plc (AIM: GRPH) is an international provider of nanotechnology performance enhancing solutions for global industries. The Group employs nanoprocesses and nanomaterials to design, engineer and enhance the performance of mainstream products for a wide range of industrial applications. It has established two major functional platforms in the energy and water sectors, and the Group, through partnerships with established industry players, is focused on building market opportunities in both sectors whilst continuing its developmental work in other strategic application areas of nanotechnology.

Headquartered in Malaysia, Graphene Nanochem was admitted to the AIM of the London Stock Exchange on 26 March 2013, following the reverse acquisition of Biofutures International plc, and trades under the symbol GRPH.L. To find out more, please visit www.graphenenanochem.com.