REG - Versarien PLC - Result of General Meeting

VersarienAnnouncement

10/01/2024 11:30

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RNS Number : 2717Z  Versarien PLC  10 January 2024

10 January 2024

Versarien Plc

("Versarien" or the "Company")

Result of General Meeting

Versarien Plc (AIM: VRS), the advanced materials engineering group, is pleased
to confirm that at the Company's General Meeting held earlier today, all
resolutions were duly passed.  Full details of the resolutions are set out in
the Notice of General Meeting dated 20 December 2023 and available on the
Company's website at:
https://www.versarien.com/investors/reports-and-presentations/
(https://www.versarien.com/investors/reports-and-presentations/)

The proxy votes cast were as follows:

 Resolution

                                                                               For                 Against           Abstain
 1 - to sub-divide each Existing                                               22,939,297  93.25%  1,661,734  6.75%  303,606

 Ordinary Share into one New Ordinary Share and one New Deferred Share

 2 - a special resolution to alter the Articles to allow for the issue of New  22,992,555  93.78%  1,524,588  6.22%  387,494
 Deferred Shares by including provisions relating to the rights and
 restrictions attached to the New Deferred Shares

 3 - to grant the directors authority to allot up to 992,339,000 New Ordinary  22,754,233  93.16%  1,670,424  6.84%  479,980
 Shares

 4 - a special resolution to grant the directors authority to allot up to      22,530,861  92.30%  1,880,416  7.70%  493,360
 992,339,000 New Ordinary Shares for cash without first offering them to
 existing shareholders

 

Share Capital Reorganisation

Following the passing of the resolutions at the General Meeting, each of the
Company's 496,169,507 Existing Ordinary Shares will be sub-divided into one
New Ordinary Share of 0.01p (the "New Ordinary Shares") and one deferred share
of 0.09p ("New Deferred Shares"). The New Deferred Shares will have little
economic value as they will not carry any rights to vote or dividend rights,
although the New Deferred Shares will rank pari passu with the New Ordinary
Shares on a return of capital or on a winding up of the Company.

 

Admission to AIM and Total Voting Rights

Dealings on AIM in the Existing Ordinary Shares is expected to cease at the
close of business on 10 January 2024. Application has been made for the
admission of 496,169,507 New Ordinary Shares to trading on AIM ("Admission")
and it is expected that Admission will take place and that trading in the New
Ordinary Shares will commence at 8.00 a.m. on or around 11 January 2024. No
application will be made for admission of the New Deferred Shares to trading
on AIM nor will any such application be made to any other exchange.

Following Admission, there will be a total of 496,169,507 New Ordinary Shares,
with voting rights, in issue. The Company does not hold any shares in
treasury. Consequently, 496,169,507 is the figure which may be used by
shareholders as the denominator for the calculation 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 Guidance and
Transparency Rules.

Unless otherwise indicated, all defined terms in this announcement shall have
the same meaning as described in the Company's announcement dated 20 December
2023 and the Circular which was posted to shareholders on the same day.

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
(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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