INTERVIEW: Versarien Plc Fundraising £1 million to scale up graphene manufacturing capabilities

Versarien plc (LON:VRS), the advanced materials group, has this afternoon announced a fundraising of approximately £1 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.

DirectorsTalk caught up with CEO Neill Ricketts to talk about its fund-raise through PrimaryBid. Neill explains how a private investor can participate on the same terms as the institutions, how investors can get involved, how long they have and provides more detail on what proceeds will be used for.


Highlights

· Fundraising at 15 pence per New Ordinary Share (“Issue Price”) to raise an aggregate of approximately £1 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 £50,000 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that once an application for New Ordinary Shares has been made and accepted via PrimaryBid, an application cannot be withdrawn.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, 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.”

Introduction

The Company today announces a Fundraising of approximately £1 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 £1 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 £1 million with a minimum subscription of £1,000 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 £50,000. Any investment request over £50,000 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 on PrimaryBid.com 5:00 p.m. on 5 March 2017

Announcement of result of the Fundraising 6 March 2017

Admission and commencement of dealings in the New Ordinary Shares on AIM By 8:00 a.m. on 10 March2017.

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