REG - Versarien PLC - Corporate Update

VersarienAnnouncement

29/08/2025 14:30

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RNS Number : 2970X  Versarien PLC  29 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

 

29 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 previously announced, the Company is in the process of conducting an
accelerated sale process of the Group's assets consisting of Versarien's
patent portfolio and its shareholdings in Total Carbide Limited and Gnanomat
SL. Versarien Graphene Limited is in administration and Cambridge Graphene
Limited and 2-DTech Limited are in voluntary liquidation proceedings. The sale
process is nearing a conclusion and the outcome, and its implications for the
Company, will be considered by the Versarien Board at its conclusion.

The Company has also been advised that the previously announced Chinese
strategic investor has withdrawn from the current proposed investment process.
The Versarien Board understands their decision is based on the lengthy UK
National Security and Investment Act (NSIA) review process, which resulted in
an approval of only a highly restricted joint venture between the parties,
combined with the ongoing financial uncertainties at Versarien.

The Company's actions to conserve cash whilst the sale process progressed has
further extended the Company's cash runway and it is now forecast, but not
certain, to last until the end of September 2025.

Schedule 2(g) Update

Chris Leigh and Stephen Hodge, both directors of Versarien, are directors of
Cambridge Graphene Limited, 2-DTech Limited and Versarien Graphene Limited. As
referenced above, Cambridge Graphene Limited and 2-DTech Limited have
appointed a creditors voluntary liquidator and Versarien Graphene Limited has
appointed an administrator.

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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