Versarien Regulatory News (VRS)

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Versarien plc 

("Versarien" or the "Company")

Successful Fundraising of £5.2m via PrimaryBid

Versarien plc (AIM:VRS), the advanced materials group, announced on 21 September 2018 the launch of an offer via PrimaryBid (the "Offer").

The Company is delighted to announce that it has successfully closed the Offer and has raised gross proceeds of £5,154,595 at 145p per ordinary share.

The Offer received a very strong response and was well supported by investors. Despite the Company electing to increase the issuance size to accommodate the level of demand, the Offer remained significantly oversubscribed and closed early.

The Offer closed at 7.22 p.m. on 21 September 2018. The Company will therefore issue and allot a total of 3,554,893 New Ordinary Shares to satisfy the Offer.

Application will be made to the London Stock Exchange for the New Ordinary Shares, which will rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM. Dealings in the New Ordinary Shares are expected to commence at 8.00 a.m. on 27 September 2018.

Neill Ricketts, Chief Executive Officer of Versarien, commented:

"We are very encouraged by the tremendous demand generated on the PrimaryBid platform in such a short period. PrimaryBid's innovative platform allowed us to seamlessly access retail investors at the same time and terms as institutional investors. Retail investors remain an important constituent to us and we are pleased to have allowed them access to this fundraise."

Total Voting Rights

Following the issue of the New Ordinary Shares, the Company will have 152,219,922 ordinary shares of 1p each in issue. The figure of 152,219,922 may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.