29 July 2025
Versarien plc
("Versarien", the "Company" or the "Group")
Corporate Update
Versarien plc (AIM: VRS), the advanced engineering materials group, provides the following update on its restructuring process and financial position.
As stated in the Company's Interim Results, issued on 30 June 2025, the Board had appointed Leonard Curtis to undertake an accelerated sale of certain trade and assets of the Group's UK Technology companies (the "UK Technology Sale Process") whilst the Company focused on minimising the cash outflows from these operations. Other actions included seeking a strategic joint investment partner for the 3D Construction Printing ("3DCP") business and ceasing the trading activities of Versarien Korea Limited.
The UK Technology Sale Process has now concluded without a suitable offer being received by the Company. The Company therefore expects that Versarien Graphene Limited will shortly be placed into administration and Cambridge Graphene Limited and 2-DTech Limited will commence the process of voluntary liquidation. Versarien Korea Limited has now ceased all operations.
The ongoing Group will then consist of Versarien plc, Gnanomat SL and Total Carbide Limited (which the Company continues to market for sale) and will concentrate primarily on its hybrid nanomaterials and energy storage technologies.
These actions will conserve further cash and extend the Group's forecast runway through to the end of August 2025 to allow further time for the proposed, and previously announced, strategic investment to be closed, albeit there is no guarantee that it will do so. Should the strategic investment not be received the Board intends to appoint Leonard Curtis to conduct an accelerated sale process of the remaining Group assets.
Further announcements will be made in due course as appropriate.
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 |
For further information please see: http://www.versarien.com
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