Versarien PLC Conversion of Gnanomat Loan
17 7월 2024 - 3:00PM
RNS Regulatory News
RNS Number : 6617W
Versarien PLC
17 July 2024
17
July 2024
Versarien
plc
("Versarien" or the
"Company")
Conversion of Gnanomat
Loan
Versarien plc (AIM: VRS), the
advanced materials engineering group announces that the Company has
converted its outstanding convertible loan of €1.25m, plus accrued
interest of €207k, into shares in its subsidiary Gnanomat S.L.
("Gnanomat"). The loan was made to Gnanomat following its
acquisition by the Company in October 2018. As a result of
the loan conversion, the Company's interest in Gnanomat increases
from 62% to 90%.
The loan has been converted to allow Gnanomat
to apply for local grant funding from the Madrid region,
to finance a project relating to next generation
energy storage devices based on Gnanomat's advanced materials.
This proposal was awarded the Seal of Excellence under the
European Innovation Council (EIC) Accelerator programme in 2020. Previously, Gnanomat was unable to
access this funding due to debt restriction
rules.
Stephen Hodge,
Chief Executive Officer of Versarien, commented:
"We are pleased that we have been able to
increase our shareholding in Gnanomat which also allows the company
access to further grant funding opportunities following the loan
conversion.
"The Board views Gnanomat as a critical part of
Versarien's future growth and innovation strategy. Over the past 12
months Gnanomat has received increased grant funding and undertaken
further commercial R&D projects. These projects have already
begun to yield trademarks and intellectual property, which are
integral to Versarien's business model."
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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END
MSCRFMRTMTIBBRI
Versarien (LSE:VRS)
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부터 11월(11) 2024 으로 12월(12) 2024
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부터 12월(12) 2023 으로 12월(12) 2024