REG - Versarien PLC - Placing to raise £318,000

VersarienAnnouncement

15/03/2023 07:15

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RNS Number : 0396T  Versarien PLC  15 March 2023

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.

 

15 March 2023

 

Versarien plc

 

("Versarien" or the "Company")

 

Placing to raise £318,000

 

Versarien plc (AIM: VRS), the advanced materials engineering group, announces
it has raised £318,000 (before expenses) by way of a placing (the "Placing")
of 10,600,000 new ordinary shares in the capital of the Company ("Placing
Shares") at a price of 3 pence per share (the "Placing Price").

 

Highlights

 

·    A Placing of £318,000, before expenses, through the issue of
10,600,000 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 operational and working capital purposes

·    The issue of the Placing Shares uses the remaining 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

 

Chris Leigh, Chief Financial Officer of Versarien, commented:  "The funds
raised through the Placing will allow us to continue to progress the
opportunities that we are seeing, particularly in our most advanced project
areas in the construction and textile sectors.  Having streamlined the
business and with a renewed focus, we continue to believe the Company has
significant potential.  We look forward to reporting on our progress in due
course."

 

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 operational and 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 21 March 2023.  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 223,249,790.  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                                                   c/o IFC

 Chris Leigh, Chief Financial Officer

 Stephen Hodge, Chief Technology 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

 

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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