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4 Apr 2019 08:29
4 April 2019
Versarien plc
("Versarien" or the "Company")
US Appointment Update
Versarien plc (AIM: VRS), the advanced materials engineering group, provides the following update in relation to its announcement of 21 March 2019.
The Company recently learned that Patrick Abbott, Vice President North American Operations for Versarien, is the subject of an active criminal proceeding brought by the State of Texas. The Company is monitoring the proceeding with advice from its US attorney. The Board has determined that Mr. Abbott should continue in his role with the Company, under the guidance of the Board and senior management.
Versarien remains fully committed to its North America expansion strategy and the many opportunities becoming available and will update shareholders in due course.
Enquiries:
Versarien Neill Ricketts, CEO Chris Leigh, CFO | +44 (0)1242 269 122 |
Canaccord Genuity (Nominated Adviser and Broker) Bobbie Hilliam Emma Gabriel | +44 (0)20 7523 8000 |
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Heather Armstrong | +44(0)20 3934 6630
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About Versarien
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. Versarien has six subsidiaries operating under two divisions:
Graphene and Plastics
2-DTech Ltd, which specialises in the supply, characterisation and early stage development of graphene products. www.2-dtech.com
AAC Cyroma Limited, which specialises in the supply of vacuum-formed and injection-moulded products to the automotive, construction, utilities and retail industry sectors. Using Versarien's existing graphene manufacturing capabilities, AAC will have the ability to produce graphene-enhanced plastic products. www.aaccyroma.co.uk
Cambridge Graphene Limited, supplies novel inks based on graphene and related materials, using patented processes to develop graphene materials technology.
www.cambridgegraphene.com
Gnanomat S.L. ("GNA"), based in the Parque Cientifico Madrid, Spain, is a company capable of utilising Versarien's graphene products in an environmentally friendly, scalable production process for energy storage devices that offer high power density, almost instant recharging and very long lifetimes for use in electrical vehicles and portable electronics products.www.gnanomat.com
Hard Wear and Metallic Products
Versarien Technologies Limited has developed an additive process for creating advanced micro-porous metals targeting the thermal management industry and supplies extruded aluminium. www.versarien-technologies.co.uk
Total Carbide Limited, a leading manufacturer in sintered tungsten carbide for applications in arduous environments such as the oil and gas industry. www.totalcarbide.com
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