# Versarien completes sale of Korean assets to MCK Tech

- Link: https://www.directorstalkinterviews.com/versarien-completes-sale-of-korean-assets-to-mck-tech/4121187752
- Published: 2025-03-03T07:11:00+00:00
- Author: Amilia Stone

Further to the Company’s announcement on 30 December 2024, **Versarien Plc **(LON:
VRS), the advanced materials engineering group, provides an update on the sale of
its Korean plant and equipment to MCK Tech Co. Ltd.

Versarien has now received the final payment due from MCK Tech of £92,000, plus 
accrued interest, and therefore the sale of its Korean plant and equipment has completed,
with title to the assets transferred to MCK Tech.  In total, Versarien has now received
£611,000 including the interest payment, after a £6,000 warranty deduction, from
MCK Tech for its Korean plant and equipment.

As announced by Versarien on 11 March 2024, in line with the Company’s strategy 
to monetise intellectual property through licensing, Versarien granted an exclusive
licence to MCK Tech, for an initial period of five years, to use five patents owned
by the Company in their business in Korea.  These five patent licences are in addition
to 14 patents the Company licences to Graphene Lab Co Ltd.  MCK Tech will pay Versarien
an amount equal to 4.5% of the total sales revenue earned from products manufactured
using the IP.  If the sales revenue derived from the IP is less than £250,000 over
the first two years of the Licence, the Licence will terminate and MCK Tech will
pay Versarien £40,000 for use of the IP.

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