Engineering The Future!
Neill Ricketts CEO of Versarien Plc joined TMS Sarah Lowther to discuss the latest financing agreement with Lanstead. Ricketts was careful to remind investors that the company had a residual £2m of cash reassuring ” It was a carefully thought out plan of action ” In addition to the long discussions and analysis of the financing agreed between both parties.
Versarien Plc the advanced materials engineering group is pleased to announce that it has entered into a £6 million subscription agreement with Lanstead Capital Investors.
Subscription for 15,000,000 new ordinary shares of 1 pence each in the Company (“Ordinary Shares”) (the “Subscription Shares”) by Lanstead at an issue price of 40 pence per Subscription Share (the “Issue Price”) to raise gross proceeds of £ 6 million , representing approximately 9.74 % of the Company’s existing issued share capital (the “Subscription”). The issue price represents a 53.8 % premium to the closing mid-market price on 20 March 2020 .
Neill Ricketts of Versarien Plc joins us here to talk about the latest deal
The author of the interview was remunerated but holds no shares in the company