TIDMVRS
RNS Number : 5756V
Versarien PLC
03 November 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NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR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 GBP1.2 million
Versarien plc (AIM:VRS), the advanced materials group, is
pleased to announce a fundraising of approximately GBP1.2 million
(before expenses) by the issue and allotment by the Company of
approximately 6.67 million new ordinary shares of 1p each in the
Company ("New Ordinary Shares") at an issue price of 18 pence per
New Ordinary Share, being a discount of 21 per cent to the closing
mid-price on 2 November 2017. 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 and provide working capital to enable the various
existing and prospective graphene related collaborations with
global OEMs to be progressed. The intended capital equipment
purchases are designed to enable the Company to increase the
production capacity of its proprietary Nanene few layer graphene
nano-platelets by a factor of approximately ten.
Highlights
-- Fundraising at 18 pence per New Ordinary Share (a discount of
21 per cent to the closing mid-price per Ordinary Share on 2
November 2017) to raise an aggregate of approximately GBP1.2
million (before expenses).
-- Net proceeds of the Fundraising will be applied towards
capital equipment and working capital to progress existing and
prospective collaboration agreements with global OEMs.
-- 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 November 2017 to
5 p.m. on 5 November 2017. The Offer may close early if it is
oversubscribed.
-- 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.
Neil Ricketts, Chief Executive Officer of Versarien,
commented:
"We are delighted with the support we have already received from
both existing and new institutional investors for this fundraising,
and, as previously, 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 invest in capital equipment
to scale up production of our Nanene graphene nano platelets by a
factor of approximately ten and provide working capital as we
continue to sign collaboration agreements with global OEMs."
Enquiries:
Versarien plc 01242 269 122
Neil Ricketts, CEO
Chris Leigh, CFO
WH Ireland (Nominated Advisor) 0117 945 3470
Mike Coe / Ed Allsopp
PrimaryBid Limited 020 7491 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
GBP1.2 million (before expenses) through the issue and allotment by
the Company of an aggregate of approximately 6.67 million new
ordinary shares of 1 pence each in the Company ("New Ordinary
Shares") at a price of 18 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 GBP1.2 million,
before expenses. Approximately 6.67 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
6.67 million New Ordinary Shares at the Issue Price to raise
approximately GBP1.2 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 for any investor is GBP50,000. Any
investment request over GBP50,000 is subject to scale back.
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 November 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 to purchase capital equipment and
provide working capital to enable the various existing and
prospective graphene related collaborations with global OEMs to be
progressed. The intended capital equipment purchases are designed
to enable the Company to increase the production capacity of its
proprietary Nanene few layer graphene nano-platelets by a factor of
approximately ten.
Expected Timetable of Principal Events
Announcement of the Fundraising 3 November 2017
Closing of subscriptions 5:00 p.m. on 5 November
on PrimaryBid.com 2017
Announcement of result of 6 November 2017
the Fundraising
Admission and commencement 8:00 a.m. on 10 November
of dealings in the New Ordinary 2017
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
IOELLFSRLILVIID
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November 03, 2017 12:43 ET (16:43 GMT)
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