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:
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Versarien
Stephen Hodge, Chief Executive
Officer
Chris Leigh, Chief Financial
Officer
|
c/o IFC
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|
|
SP
Angel Corporate Finance (Nominated Adviser and
Broker)
Matthew Johnson, Adam
Cowl
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+44 (0)20 3470 0470
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IFC
Advisory Limited (Financial PR and Investor
Relations)
Tim Metcalfe, Zach Cohen
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+44 (0) 20 3934 6630
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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