Update on the Disposal of AAC Cyroma Limited

Summary by AI ^BETAClose X

Versarien plc has announced an update regarding the disposal of its subsidiary, AAC Cyroma Limited, for which £550,000 in cash was originally agreed. While four quarterly instalments totalling £137,500 have been paid, leaving £412,500 outstanding, AAC Cyroma now intends to enter creditors' voluntary liquidation. Consequently, Versarien will seek to recover the remaining consideration by invoking its charge over AAC Cyroma's assets, with the recoverable amount dependent on liquidation outcomes.

Disclaimer*

Versarien PLC

15 December 2025

Versarien plc

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

Update on the Disposal of AAC Cyroma Limited

On 30 September 2024 Versarien plc (AIM: VRS), the advanced materials engineering group, announced that it had completed the disposal of the Company's wholly owned subsidiary, AAC Cyroma Limited ("AAC Cyroma"), to Harper Bennett Limited (the "Purchaser") for a total consideration of £550,000.

The consideration of £550,000 was payable in cash, in 16 equal quarterly instalments of £34,375, commencing in December 2024. Since that date, the Purchaser has paid four instalments totalling £137,500 leaving £412,500 outstanding.

Versarien has now been advised that AAC Cyroma intends to enter into a creditors' voluntary liquidation. Consequently, the Company will now seek to invoke its charge over the assets of AAC Cyroma to recover the outstanding consideration payable. The amount recoverable will be dependent upon any offers made to the liquidator for the business or the value of the assets should they be sold either by private treaty or at auction.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

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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