IN BRIEF: Versarien receives sale offers, cash to last to end of month

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Versarien PLC - Gloucestershire-based advanced materials group - Receives ‘a range of offers from a number of interested parties’ regarding its accelerated sale of the patent portfolio and shareholdings in Total Carbide Ltd and Gnanomat SL. Says: ‘Until legal agreements are signed, there is no certainty of the outcome. As previously announced, the company has taken actions to conserve cash such that its cash runway is now forecast, but not certain, to last until the end of September 2025.’

In August, Versarien said it expected offers by early September. The company in March revealed advanced discussions with a third party, with a view to completing a strategic investment in Versarien at a premium to its then-current share price. Versarien Graphene Ltd is in administration, and Cambridge Graphene Ltd and 2-DTech Ltd are in voluntary liquidation proceedings, which it announced later in March.

Current share price: 0.013 pence, closed up 8.3% on Wednesday

12-month change: down 84%

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