REG - Versarien PLC - Placing to raise £1.85 million

VersarienAnnouncement

06/12/2022 09:45

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RNS Number : 7502I  Versarien PLC  06 December 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) 596/2014 (AS AMENDED) AS IT FORMS PART OF THE DOMESTIC
LAW OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
2018 (AS AMENDED). UPON PUBLICATION OF THIS ANNOUNCMENT, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

6 December 2022

 

Versarien plc

 

("Versarien" or the "Company")

 

Placing to raise £1.85 million

 

Versarien plc (AIM: VRS), the advanced materials engineering group, announces
it has raised £1.85 million (before expenses) by way of a placing (the
"Placing") of 18,500,000 new ordinary shares in the capital of the Company
("Placing Shares") at a price of 10 pence per share (the "Placing Price").

 

Highlights

 

·    A Placing of £1.85 million, before expenses, through the issue of
18,500,000 Placing Shares

·    The net proceeds of the Placing will be used to continue Versarien's
commercialisation work, primarily in the construction and leisure sectors and
for general working capital purposes

·    The issue of the Placing Shares is within existing authorities
granted by shareholders at the annual general meeting of the Company held in
September 2022 and therefore no shareholder approval is required for the
Placing

 

Neill Ricketts, Chief Executive Officer of Versarien, commented:

 

"These funds will allow the Company to focus on the significant opportunities
it is seeing in the construction and leisure sectors. While we will continue
to review projects in other sectors, the Board believes these two areas
represent the best opportunities for near term commercial success. In
parallel, the Company continues to explore additional funding options, with a
focus on non-dilutive options such as grant funding and strategic partnership
opportunities."

 

Use of Placing proceeds

 

The net proceeds of the Placing will be used to continue commercialisation
work for the Company's products, primarily focusing on the construction and
leisure sectors and for general working capital purposes.

 

Admission and Total Voting Rights

Application will be made for admission of the Placing Shares to be admitted to
trading on AIM ("Admission") on or around 12 December 2022. The Placing Shares
will rank pari passu in all respects with the Company's existing ordinary
shares. Following Admission, the total number of ordinary shares in the
Company in issue will be 212,649,790. This figure may be used by shareholders
as the denominator for the calculations by which they will determine if they
are required to notify their interest in, or a change to their interest in the
Company under the FCA's Disclosure and Transparency Rules.

 

For further information please contact:

 

 Versarien                                                        +44 (0) 1594 887204

 Neill Ricketts, Chief Executive Officer

 Chris Leigh, Chief Financial Officer

 Dr Stephen Hodge, Chief Technology Officer

 SP Angel Corporate Finance (Nominated Adviser and Joint 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

 

About Versarien:

 

The strategy of Versarien plc (AIM:VRS) is to be a globally recognised
graphene company with a wide portfolio of high-quality verified materials
allied to the largest relevant IP portfolio supported by its own UK based
research and development centre driving recurring revenue growth through its
innovative graphene product applications.

 

For further information please see: http://www.versarien.com
(https://eur03.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.versarien.com%2F&data=05%7C01%7Ctwhitfield%40mclnews.com%7Ca6f36820d41746bbb8f008da42f2dd6a%7C7560185ee95f4d5a8cc0c244cb450a3e%7C0%7C0%7C637895909595351380%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=vp8yFEBNrElWqj0WOIqnwLTzPx3mbDopgjGylVz4v0c%3D&reserved=0)

 

 

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