REG - Versarien PLC - Corporate Update

VersarienAnnouncement

29/07/2025 07:00

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RNS Number : 8890S  Versarien PLC  29 July 2025

 

 

29 July 2025

Versarien plc

("Versarien", the "Company" or the "Group")

Corporate Update

Versarien plc (AIM: VRS), the advanced engineering materials group, provides
the following update on its restructuring process and financial position.

 

As stated in the Company's Interim Results, issued on 30 June 2025, the Board
had appointed Leonard Curtis to undertake an accelerated sale of certain trade
and assets of the Group's UK Technology companies (the "UK Technology Sale
Process") whilst the Company focused on minimising the cash outflows from
these operations. Other actions included seeking a strategic joint investment
partner for the 3D Construction Printing ("3DCP") business and ceasing the
trading activities of Versarien Korea Limited.

The UK Technology Sale Process has now concluded without a suitable offer
being received by the Company.  The Company therefore expects that Versarien
Graphene Limited will shortly be placed into administration and Cambridge
Graphene Limited and 2-DTech Limited will commence the process of voluntary
liquidation.  Versarien Korea Limited has now ceased all operations.

The ongoing Group will then consist of Versarien plc, Gnanomat SL and Total
Carbide Limited (which the Company continues to market for sale) and will
concentrate primarily on its hybrid nanomaterials and energy storage
technologies.

These actions will conserve further cash and extend the Group's forecast
runway through to the end of August 2025 to allow further time for the
proposed, and previously announced, strategic investment to be closed, albeit
there is no guarantee that it will do so.  Should the strategic investment
not be received the Board intends to appoint Leonard Curtis to conduct an
accelerated sale process of the remaining Group assets.

Further announcements will be made in due course as appropriate.

For further information please contact:

 

 Versarien                                                   c/o IFC

 Stephen Hodge, Chief Executive Officer

 Chris Leigh, Chief Financial Officer

 SP Angel Corporate Finance (Nominated Adviser and Broker)   +44 (0)20 3470 0470

 Matthew Johnson, Adam Cowl

 IFC Advisory Limited (Financial PR and Investor Relations)  +44 (0)20 3934 6630

 Tim Metcalfe, Zach Cohen

 

For further information please see: http://www.versarien.com
(http://www.versarien.com)

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