Versarien PLC Placing and Update on Turnaround Strategy (2668Y)
03 5월 2023 - 5:30PM
UK Regulatory
TIDMVRS
RNS Number : 2668Y
Versarien PLC
03 May 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.
3 May 2023
Versarien plc
("Versarien" or the "Company")
Placing to raise GBP531,624 and Update on Turnaround
Strategy
Versarien plc (AIM: VRS), the advanced materials engineering
group, announces a placing to raise GBP531,624 (before expenses)
and an update on the Company's turnaround strategy.
Placing
The Company has raised GBP531,624 (before expenses) by way of a
placing (the "Placing") of 42,529,900 new ordinary shares in the
capital of the Company ("Placing Shares") at a price of 1.25 pence
per share (the "Placing Price").
The net proceeds of the Placing will be used for general
operational and working capital purposes and for commercialisation
activities primarily in the construction and leisure sectors, in
line with the Company's new strategic roadmap which is being
finalised.
The issue of the Placing Shares uses the authorities granted by
shareholders at the Annual General Meeting of the Company ("AGM")
held on 29 March 2023 and therefore no shareholder approval is
required for the Placing.
Turnaround strategy
As announced on 29 March at the time of the AGM, David Stone and
his team at Prompt Business Strategies Limited have been engaged to
aid the Board in developing both its strategic and management
plans. Since the AGM, David and his team have been working closely
with the Board to develop a strategy that seeks to preserve
appropriate intellectual property within the Company, whilst
significantly reducing operational costs to facilitate a cash
runway that will allow Versarien to deliver commercially in its
targeted markets. The new strategic roadmap and financial plan will
be announced in the coming weeks.
In addition, the Company continues to progress and assess asset
disposal options, including disposing of the mature businesses,
that are no longer core activities for Versarien.
Further updates will be announced in due course as
appropriate.
Chris Leigh, Chief Financial Officer of Versarien, commented:
"As previously announced, the Company requires further funding to
support its activities and the Board welcomes the investor interest
in this Placing. We continue to focus on completing our strategic
reorganisation and commercial roadmap and look forward to sharing
this with shareholders in due course."
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 10 May
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
265,779,690. 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)
Matthew Johnson, Adam Cowl +44(0) 203 470 0470
IFC Advisory Limited (Financial PR and Investor
Relations)
Tim Metcalfe, Zach Cohen +44 (0) 20 3934 6630
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END
IOEFIFFTESIVIIV
(END) Dow Jones Newswires
May 03, 2023 04:30 ET (08:30 GMT)
Versarien (AQSE:VRS.GB)
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부터 3월(3) 2025 으로 4월(4) 2025
Versarien (AQSE:VRS.GB)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 4월(4) 2025
