REG - Versarien PLC - Placing to raise £450,000

VersarienAnnouncement

16/10/2024 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:20241016:nRSP3229Ia&default-theme=true

RNS Number : 3229I  Versarien PLC  16 October 2024

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.

 

16 October 2024

 

Versarien plc

 

("Versarien" or the "Company")

 

Placing to raise £450,000

 

Versarien plc (AIM: VRS), the advanced materials engineering group, announces
it has raised £450,000 (before expenses) by way of a placing (the "Placing")
of 1,384,615,385 new ordinary shares in the capital of the Company ("Placing
Shares") at a price of 0.0325 pence per share (the "Placing Price").

 

The net proceeds of the Placing will be used to further increase the Company's
in-house concrete and mortar testing capabilities and fund external UKAS
accredited testing services for 3D construction printed products, as well as
for general corporate and working capital purposes.

 

As announced on 14 August 2024, Versarien has signed its first significant 3D
construction printing ("3DCP") contract with Building For Humanity CIC, for
their flagship Charter Street project, in Accrington, UK.  On-site 3DCP
activities will likely start in 2025.  In addition, the Company announced on
1 October 2024 that it had entered into a 12 month commercially funded project
with Balfour Beatty, one of the UK's largest construction companies, to
develop graphene enhanced 3DCP materials and products.  These projects, and
others, demonstrate the traction the Company is experiencing in the
construction sector.

 

As previously announced, as at 4 October 2024, the Company had a pipeline of
opportunities of £4.7m, of which commercial opportunities represents £1.6m
and grants £3.1m.  The net proceeds of the Placing will also help the
Company to pursue these opportunities.

 

Admission and Total Voting Rights

 

Application has been made for admission of the Placing Shares to be admitted
to trading on AIM ("Admission") on or around 22 October 2024. 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 3,718,938,737. 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

 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

 

About Versarien:

 

The strategy of Versarien plc (AIM:VRS) is to be a development led advanced
materials company focussed on specific sectors that will lead to a
manufacturing-light and licensing model.

 

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)

 

 

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  IOEGPGRCUUPCPUA