VRS.L

Versarien Plc
Versarien PLC - Placing to raise £425,000
14th May 2025, 06:00
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RNS Number : 5403I
Versarien PLC
14 May 2025
 

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.

14 May 2025

 

Versarien plc

 

("Versarien" or the "Company")

 

Placing to raise £425,000

 

Versarien plc (AIM: VRS), the advanced materials engineering group, announces that it has raised £425,000 (before expenses) by way of a placing (the "Placing") of 1,545,454,545 new ordinary shares in the capital of the Company ("Placing Shares") at a price of 0.0275 pence per share. The Placing uses the Company's authority to issue shares for cash granted at the General Meeting held on 23 March 2025.

 

The net proceeds of the Placing will be used for general corporate purposes and to acquire a mortar mixing plant as the Company seeks to scale the production of optimised low-carbon 3D construction printing mortars it has been developing to meet ongoing project commitments.

 

The Company remains in advanced discussions with the strategic investor referred to in its circular dated 5 March 2025, and in its annual results announced on 27 March 2025, and hopes to be able to conclude this investment in the near term, though there can be no certainty that it will be completed.  Additionally, the Company remains active in the marketing of Total Carbide and is progressing discussions with interested parties.

 

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 19 May 2025. 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 6,009,963,066. 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

Stephen Hodge, Chief Executive Officer

Chris Leigh, Chief Financial Officer

 

c/o IFC

SP Angel Corporate Finance (Nominated Adviser and Broker)

Matthew Johnson, Adam Cowl

+44 (0)20 3470 0470

 

 

IFC Advisory Limited (Financial PR and Investor Relations)

Tim Metcalfe, Zach Cohen

+44 (0)20 3934 6630

 

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

 

 

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