Versarien (VRS)

Sector:

Industrial Chemicals

Index:

FTSE AIM All-Share

0.035p
   
  • Change Today:
      0.001p
  • 52 Week High: 0.62
  • 52 Week Low: 0.033
  • Currency: UK Pounds
  • Shares Issued: 3,718.94m
  • Volume: 207,570,508
  • Market Cap: £1.31m
  • RiskGrade: 561

Versarien sells AAC Cyroma subsidiary for £0.55m

By Josh White

Date: Monday 30 Sep 2024

LONDON (ShareCast) - (Sharecast News) - Advanced materials engineering group Versarien announced the completed sale of its wholly-owned subsidiary AAC Cyroma on Monday, to Harper Bennett for £0.55m.
The AIM-traded firm said the sale aligned with its strategy to focus on its core graphene technology and divest its more mature businesses.

It said the consideration would be paid in 16 equal quarterly instalments of £34,375, starting three months after completion.

To safeguard the transaction, Versarien would retain a charge over AAC Cyroma's assets and those of Harper Bennett until all payments were completed.

AAC Cyroma, a specialist in plastics manufacturing for sectors such as automotive and fast-moving consumer goods, recorded a loss of £0.15m for the financial year ended 30 September last year, and had net assets of £0.41m.

Proceeds from the sale would support Versarien's general corporate and working capital needs as the company sharpened its focus on developing graphene-based technologies.

"The sale of AAC Cyroma is a pivotal step in our turnaround strategy, allowing the company to continue to focus on maximising the potential from graphene and advanced engineering technologies, and take a manufacturing-light approach," said chief executive officer Stephen Hodge.

"In our core business the pipeline of opportunities and partnerships continues to improve and I believe that Versarien is increasingly well positioned for sustained growth and industry leadership."

At 1454 BST, shares in Versarien were down 1.58% at 0.06p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Versarien Market Data

Currency UK Pounds
Share Price 0.035p
Change Today 0.001p
% Change 2.32 %
52 Week High 0.62
52 Week Low 0.033
Volume 207,570,508
Shares Issued 3,718.94m
Market Cap £1.31m
RiskGrade 561

Versarien Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
7.22% below the market average7.22% below the market average7.22% below the market average7.22% below the market average7.22% below the market average
60% below the sector average60% below the sector average60% below the sector average60% below the sector average60% below the sector average
Price Trend
97.6% below the market average97.6% below the market average97.6% below the market average97.6% below the market average97.6% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income Not Available
Growth
47.05% below the market average47.05% below the market average47.05% below the market average47.05% below the market average47.05% below the market average
46.67% below the sector average46.67% below the sector average46.67% below the sector average46.67% below the sector average46.67% below the sector average

Versarien Dividends

No dividends found

Trades for 31-Oct-2024

Time Volume / Share Price
16:30 77,035 @ 0.035p
16:25 250,000 @ 0.036p
16:15 167,443 @ 0.035p
16:12 1,417,443 @ 0.036p
16:06 550,000 @ 0.036p

Versarien Key Personnel

Finance Director Christopher Leigh
CEO Stephen Hodge

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