Last checked at 21 Aug 2013 09:00
Press Release | 21 August 2013 |
Versarien plc
("Versarien" or the "Company")
Notification of Shareholding
Further to the announcement made on 16 August 2013, Versarien plc (AIM: VRS), the advanced engineering materials group, is pleased to announce that on 20 August 2013 the Company was informed that Henderson Global Investors has acquired from Elektron Technology Plc 8,571,429 ordinary shares in the Company representing 10.31% of the issued share capital of the Company.
Commenting on the share purchase, Neill Ricketts, Chief Executive Officer of Versarien plc, said: "Henderson Global Investors are one of the UK's best recognised fund managers and by acquiring a significant stake in Versarien it clearly demonstrates their commitment and shared vision in the potential of the Company. We welcome them as a new investor and the Board looks forward to working with them, as well as all our shareholders, in the future."
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For further information:
Versarien plc | |
Neill Ricketts, Chief Executive Officer | Tel: +44 (0) 1594 368 252 |
www.versarien.com |
Northland Capital Partners Limited (Nomad and Joint Broker) | |
William Vandyk / Lauren Kettle | Tel: +44 (0) 20 7796 8800 |
www.northlandcp.co.uk | |
Westhouse Securities Limited (Joint Broker) |
|
Tom Griffiths / Rob Sanders | Tel: +44 (0) 20 7601 6100 |
| www.westhousesecurities.com |
Media enquiries:
Abchurch Communications Limited | |
Henry Harrison-Topham / Alistair de Kare Silver | Tel: +44 (0) 20 7398 7715 |
www.abchurch-group.com |
Notes to Editors
Versarien develops advanced micro-porous metals for thermal management. The open celled metallic foams produced by the Group at its manufacturing factory in Cinderford, Gloucestershire, are 'biomimetic' - that is they mimic the sponge like structures of biological materials, e.g. bone and coral.
Versarien's porous metals have an exceptionally high surface area relative to volume which means they are ideally suited to any function where surface area is important, for example heat transfer, heat exchange, catalysis and energy storage. Versarien is initially targeting the thermal management industry due to the material's superb heat transfer properties. The thermal management market is expected to reach US$S11.1 billion during 2013 (Source: BCC Research).
The Group's lead product is VersarienCu, a micro-porous copper. When incorporated into liquid cooling systems, VersarienCu can improve efficiency by up to ten times. Versarien's key market is cooling systems for central processing units (CPUs), hardware that is found in high performance workstations (engineering, science, CGI, animation), computer clusters, supercomputing infrastructure and data centres. VersarienCu can be retrofitted into 'cold plates' within existing infrastructure and the Group also intends to produce complete cooling systems containing VersarienCu.