Versarien PLC Update on Sale of Korean Assets
October 31 2024 - 5:36AM
RNS Regulatory News
RNS Number : 4287K
Versarien PLC
31 October 2024
31 October 2024
Versarien plc
("Versarien" or the
"Company")
Update on Sale of Korean
Assets
Further to the Company's announcement on 2
August 2024, Versarien (AIM: VRS), the advanced materials
engineering group, provides an update on the sale of its Korean
plant and equipment to MCK Tech Co. Ltd ("MCK Tech") for a total
consideration of £604,000. Versarien has now received a
further £60,000 from MCK Tech leaving a balance outstanding of
£242,000 plus accrued interest.
Having considered the business opportunities
available to MCK Tech, Versarien has agreed a further extension to
on or before 31 December 2024 for MCK Tech to make the final
payment of £242,000 plus accrued interest. This debt will
incur interest at an annual rate of 10.0% and in the event of
default the sale agreement provides for payments already made to
Versarien to be retained by the Company, with title to the assets
remaining with Versarien.
Further updates will be announced in due course
as appropriate.
This
announcement contains inside information for the purposes of
Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms
part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of
MAR.
For further
information please contact:
|
Versarien
Stephen Hodge, Chief Executive
Officer
Chris Leigh, Chief Financial Officer
|
c/o IFC
|
|
|
|
|
SP Angel
Corporate Finance (Nominated Adviser and Broker)
Matthew Johnson, Adam Cowl
|
+44 (0)20 3470 0470
|
|
|
|
|
IFC Advisory
Limited (Financial PR and Investor Relations)
Tim Metcalfe, Zach Cohen
|
+44 (0) 20 3934 6630
|
About
Versarien:
The strategy of Versarien plc (AIM:VRS) is to be
a development led advanced materials company focussed on specific
sectors that will lead to a manufacturing-light and licensing
model.
For further information please
see: http://www.versarien.com
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END
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