Result of General Meeting

RNS Number : 9144F

Versarien PLC

30 April 2014

 

Press Release

30 April 2014

Versarien plc

("Versarien" or the "Company"or the "Group")

Result of General Meeting

Versarien plc (AIM: VRS), the advanced engineering materials group, is pleased to announce that all resolutions contained in the Notice of General Meeting, circulated to Shareholders on 14 April 2014, were passed unanimously at the General Meeting held earlier today.

As a result of the resolutions being passed, the acquisition of 85 per cent of 2-DTech Limited for £440,000 for a mix of cash and new ordinary shares, will complete on Admission.  As previously advised, the Company has placed 21,153,847 new Ordinary Shares at 26 pence per share to raise £5,500,000 before expenses to part-fund the Acquisition. 

Application has been made for the 22,000,000 new Ordinary Shares to be admitted to trading on AIM in connection with Placing and Acquisition.  Admission is expected to become effective at 8.00 a.m. on 1 May 2014.  The new Ordinary Shares issued will be fully paid and will, upon issue, rank pari passu in all respects with the Existing Ordinary Shares. Following Admission the total issued share capital of the Company will increase to 105,076,085 Ordinary Shares.

Neill Ricketts, CEO of Versarien plc, said: "The Group has been encouraged by the positive reaction from both customers and investors to this important acquisition for Versarien.  The acquisition places Versarien in a unique position to accelerate commercialisation of graphene by developing the research facilities and the rights to intellectual property of 2-DTech combined with the production capacity and expertise at Total Carbide and the planned collaboration with The University of Manchester.  Demand for graphene related products is set to grow exponentially and Versarien is delighted to be at the forefront of commercialising this important material."

-Ends-

For further information please contact:

Versarien plc
Neill Ricketts, Chief Executive Officer	Tel: [phone]
	www.versarien.com

Charles Stanley Securities Limited (Nominated Adviser and Broker)
Mark Taylor / Russell Cook	Tel: [phone]
	www.csysecurities.com

Media enquiries:

Abchurch Communications Limited
Jamie Hooper / Alistair de Kare-Silver	Tel: [phone]
[e-mail]	www.abchurch-group.com

 

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