Last checked at 26 Feb 2021 10:16
26 February 2021
Versarien plc
("Versarien" or the "Company")
Innovate UK Loan
Versarien plc (AIM: VRS), the advanced materials engineering group provides the following update regarding the Innovate UK ("IUK") loan facility, details of which were previously notified on 1 July 2020 and 17 August 2020. The interim results announced on 21 January 2021 disclosed the loan balance of £1.96 million in "Non-current liabilities" under "Trade and other payables".
In light of the paper published by the International Financial Reporting Interpretations Committee in December 2020, subsequent to the Company's half-year end, the Company announces that the IUK loan balance at 31 March 2021 will, in the Company's annual results, continue to be classified under the "Non-current liabilities" heading on the balance sheet but will be shown as a separate line item. This treatment has been agreed with its auditor, PwC.
Enquiries:
Versarien Neill Ricketts, CEO Chris Leigh, CFO | +44 (0)1242 269 122 |
SP Angel Corporate Finance (Nominated Adviser and Joint Broker) Matthew Johnson, Ewan Leggat, Adam Cowl
| +44 (0)20 3470 0470 |
Berenberg (Joint Broker) Mark Whitmore, Simon Cardron | +44 (0)20 3207 7800 |
Yellow Jersey (Investor Relations) Charles Goodwin Georgia Colkin Henry Wilkinson Versarien@yellowjerseypr.com | +44 (0)774 778 8221 |
Notes to Editors:
Versarien Plc (AIM:VRS), is an advanced engineering materials group. Leveraging proprietary technology, the Group creates innovative engineering solutions for its clients in a diverse range of industries.
For further information please see: http://www.versarien.com