REG - Versarien PLC - Intention to Appoint Administrators, Suspension

VersarienAnnouncement

Mon 07:00

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RNS Number : 5300J  Versarien PLC  01 December 2025

 

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER
THE UKVERSION 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

 

1 December 2025

 

Versarien plc

 

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

 

Intention to Appoint Administrators, Suspension of Trading on AIM and
resignation of Non-Executive Directors

 

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

Following the announcement on 26 November 2025, the Company has continued to
take advice from Leonard Curtis whilst exploring other options for the
disposal of the Company's remaining assets.

Whilst there continues to be interest shown in acquiring these assets, the
Board is conscious that, as previously advised, it is reliant upon the support
of its creditors to continue its operations. Although creditors continue to be
supportive, the Board has regrettably resolved to serve a notice of intention
to appoint ("NOIA") Leonard Curtis as administrators.

The purpose of the NOIA is to protect the Company against any creditor
enforcement action for a period of 10 working days and allow secured
creditors, if they so wish, to appoint an alternative administrator.

During this time Leonard Curtis will seek to conclude a transaction with
interested parties which may not necessarily result in administration. If a
transaction is not concluded within this timeframe, the administration will
proceed.

Consequently, the Company has requested a suspension in the trading of its
ordinary shares on AIM, which will become effective from 7.30 a.m. today.

Following the Versarien Board's decision to file the NOIA, the Non-Executive
Directors of the Company being Sir Iain Gray CBE, Diane Savory OBE and Susan
Bowen have resigned with immediate effect.

 

The Company will make further announcements 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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