Versarien plc (LON:VRS), the advanced materials engineering group, has announced that it has raised £425,000 (before expenses) by way of a placing of 1,545,454,545 new ordinary shares in the capital of the Company 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.
Versarien 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 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.
