TIDMVRS
RNS Number : 5315Y
Versarien PLC
03 March 2017
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO
CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE
MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION
WOULD BE PROHIBITED BY ANY APPLICABLE LAW.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE
PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT
2000 ("FSMA") AND HAS BEEN APPROVED BY DARWIN STRATEGIC LIMITED
WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT
AUTHORITY. PRIMARYBID LTD IS AN APPOINTED REPRESENTATIVE OF DARWIN
STRATEGIC LIMITED.
Versarien plc
("Versarien" or the "Company")
Fundraising of approximately GBP1 million
Versarien plc (AIM:VRS), the advanced materials group, is
pleased to announce a fundraising of approximately GBP1 million
(before expenses) by the issue and allotment by the Company of
approximately 6.7 million new ordinary shares of 1p each in the
Company ("New Ordinary Shares") at an issue price of 15 pence per
New Ordinary Share. The fundraising comprises an institutional
placing by WH Ireland (the "Placing") in conjunction with an offer
via PrimaryBid (the "Offer") (together the "Fundraising").
The Company is pleased to provide private and other investors
the opportunity to participate in the Fundraising by applying
exclusively through the PrimaryBid.com platform under the Offer.
PrimaryBid does not charge investors any commission for this
service.
The Company will use the proceeds of the Fundraising to purchase
capital equipment for its graphene businesses and for working
capital.
Highlights
-- Fundraising at 15 pence per New Ordinary Share ("Issue
Price") to raise an aggregate of approximately GBP1 million (before
expenses).
-- Net proceeds of the Fundraising will be applied towards the
purchase of capital equipment for the Company's graphene businesses
and for general working capital purposes.
-- The Company values its private investor base and is therefore
opening the Fundraising to individual and institutional investors
exclusively on PrimaryBid.com from 4.30 p.m. on 3 March 2017 to 5
p.m. on 5 March 2017. PrimaryBid Limited is acting as sole arranger
for the Offer.
-- Subscriptions under the Offer will be considered by the
Company on a "first come, first served" basis subject to
conditions.
-- Any investment request over GBP50,000 will first require the Company's consent.
No commission is charged to investors on applications to
participate in the Offer made through PrimaryBid. It is vital to
note that once an application for New Ordinary Shares has been made
and accepted via PrimaryBid, an application cannot be
withdrawn.
For further information on PrimaryBid.com or the procedure for
applications under the Offer, visit www.PrimaryBid.com or call
PrimaryBid.com on +44 (0)20 7491 6519.
The Fundraising is expected to be completed and the results of
it announced on 6 March 2017.
Neil Ricketts, Chief Executive Officer of Versarien,
commented:
"We are delighted with the support we have received from both
existing and new institutional investors for the fundraising, and
to have the opportunity to allow private shareholders to
participate on the same terms as the institutions through
PrimaryBid.
"The funds raised will allow us to significantly scale up our
graphene manufacturing capabilities to take advantage of the
substantial opportunities we are seeing. Versarien is at the
forefront of the commercialisation of graphene and with the recent
launch of our graphene brand, Nanene, and the other graphene
projects we are working on, we look forward to these funds allowing
us to accelerate the use of graphene in a variety of commercial
applications."
Enquiries:
Versarien plc 07912 869066
Neil Ricketts, CEO
Chris Leigh, CFO
WH Ireland (Nominated Advisor and Broker) 0117 945 3470
Mike Coe / Ed Allsopp
PrimaryBid Limited 0207 4791 6519
Dave Mutton
IFC Advisory Ltd, Financial PR and IR 0203 053 8671
Tim Metcalfe
Graham Herring
Heather Armstrong
Introduction
The Company today announces a Fundraising of approximately GBP1
million (before expenses) through the issue and allotment by the
Company of an aggregate of approximately 6.6 million new ordinary
shares of 1 pence each in the Company ("New Ordinary Shares") at a
price of 15 pence per New Ordinary Share ("Issue Price").
The Company highly values its private investor base which has
supported the Company alongside institutional investors over
several years. Given the longstanding support of private
shareholders, the Company believes that it is appropriate to
provide private and other interested investors the opportunity to
participate in the Fundraising. The Company is therefore making the
Offer exclusively through PrimaryBid.com.
Private and other investors may participate in the Offer of New
Ordinary Shares on a on a first come, first served basis,
exclusively through PrimaryBid.com.
The Fundraising
Details of the Fundraising
The Company is raising a total of approximately GBP1 million,
before expenses. Approximately 6.6 million New Ordinary Shares are
available pursuant to the Fundraising at the Issue Price, payable
in full on acceptance.
The Offer is offered under the exemptions against the need for a
prospectus allowed under the Prospectus Rules. As such, there is no
need for publication of a prospectus pursuant to the Prospectus
Rules, or for approval of the same by the Financial Conduct
Authority in its capacity as the UK Listing Authority.
The Company offers for subscription under the Fundraising up to
6.6 million New Ordinary Shares at the Issue Price to raise
approximately GBP1 million with a minimum subscription of GBP1,000
per investor. The Offer is open to existing shareholders and other
investors subscribing via PrimaryBid.com. This allocation will be
filled on a "first come first served" basis.
The maximum investment amount under the Offer for any investor
is GBP50,000. Any investment request over GBP50,000 will first
require the Company's consent.
For further details please refer to the PrimaryBid.com website
at www.PrimaryBid.com.
The terms and conditions on which the Offer is made, including
the procedure for application and payment for New Ordinary Shares,
is available to all persons who register with PrimaryBid.com. The
Offer is made on a first come, first served basis and scale back of
subscriptions (where necessary) will be made at the discretion of
PrimaryBid in consultation with the Company.
The Company may, at its sole discretion, elect to increase the
total number of New Ordinary Shares available under the
Fundraising.
The New Ordinary Shares will be issued free of all liens,
charges and encumbrances and will, when issued and fully paid, rank
pari passu in all respects with the Company's existing Ordinary
Shares.
Application will be made to the London Stock Exchange plc for
the admission of the New Ordinary Shares to trading on AIM
("Admission"). It is expected that Admission will occur and that
dealings will commence at 8.00 a.m. on 10 March 2017 - at which
time it is also expected that the New Ordinary Shares will be
enabled for settlement in CREST.
The Fundraising is not being made into any Restricted
Jurisdiction or any other jurisdiction where it would be unlawful
to do so.
Investors should make their own investigations into the merits
of an investment in the Company. Nothing in this announcement
amounts to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.
It should be noted that a subscription for New Ordinary Shares
and investment in the Company carries a number of risks. Investors
should consider the risk factors set out on PrimaryBid.com before
making a decision to subscribe for New Ordinary Shares. Investors
should take independent advice from a person experienced in
advising on investment in securities such as the New Ordinary
Shares if they are in any doubt.
Use of proceeds
The proceeds shall be used for the purchase of capital equipment
for the Company's graphene businesses and for general working
capital purposes.
Expected Timetable of Principal Events
Announcement of the Fundraising 3 March 2017
Closing of subscriptions 5:00 p.m. on 5 March
on PrimaryBid.com 2017
Announcement of result of 6 March 2017
the Fundraising
Admission and commencement By 8:00 a.m. on 10 March2017
of dealings in the New Ordinary
Shares on AIM
Definitions
"CREST" the relevant system (as
defined in the CREST Regulations)
in respect of which Euroclear
is the operator (as defined
in the CREST Regulations)
--------------------------- -----------------------------------
"Euroclear" Euroclear UK & Ireland
Limited
--------------------------- -----------------------------------
"Prospectus Rules" the Prospectus Rules made
in accordance with the
EU Prospectus Directive
2003/71/EC in relation
to offers of securities
to the public and the
admission of securities
to trading on a regulated
market
--------------------------- -----------------------------------
"Restricted Jurisdictions" United States of America,
Canada, Australia, Japan
and the Republic of South
Africa and any other jurisdiction
where the extension or
availability of the Offer
would breach any applicable
law
--------------------------- -----------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEOKNDNABKDPNK
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