REG - Versarien PLC - Corporate Update

VersarienAnnouncement

11/08/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250811:nRSK6705Ua&default-theme=true

RNS Number : 6705U  Versarien PLC  11 August 2025

 

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN

11 August 2025

Versarien plc

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

Corporate Update

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

As announced on 29 July 2025, the Company has taken actions to conserve cash,
including commencing the process to place Versarien Graphene Limited into
administration and commencing the process of the voluntary liquidation of
Cambridge Graphene Limited and 2-DTech Limited.  This will extend the Group's
forecast cash runway through to the end of August 2025 to allow further time
for the proposed strategic investment, as first announced on 5 March 2025, to
be closed.  Whilst the Company continues dialogue with the strategic investor
with a view to the investment being completed and continues to market Total
Carbide Limited for sale, there is no certainty that either transaction will
be successfully concluded in a timeframe that will enable the Company to
continue trading.

The Board has therefore, in line with its previously indicated intention,
appointed Leonard Curtis to conduct an accelerated sale process of the
remaining Group assets, being those of Versarien plc and its shares in
Gnanomat SL and Total Carbide Limited.  Leonard Curtis will contact
potentially interested parties with a view to them submitting offers by early
September and, if appropriate offers are received, asset sales being concluded
as soon as possible thereafter, should the strategic investment not be
successfully completed.

In the event that asset sales are required to be concluded it is likely that
the maximum proceeds that may be realisable from the sale of the Group's
remaining assets will be less than the liabilities of the Group.  In these
circumstances, the Company would cease trading and would be placed into
administration which would result in the suspension of trading of the
Company's shares on AIM.  Versarien shareholders would not be expected to
receive any return from an administration process.

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)

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDPPMATMTJMBAA