- Versarien
- 11 August 2025 11:24:28
Source: Sharecast
The company has begun placing Versarien Graphene Limited into administration, and Cambridge Graphene Limited and 2 D-Tech into voluntary liquidation.
"This will extend the group's forecast cash runway through to the end of August 2025 to allow further time for the proposed strategic investment, as first announced on 5 March 2025, to be closed," it said.
"Whilst the company continues dialogue with the strategic investor with a view to the investment being completed and continues to market Total Carbide Limited for sale, there is no certainty that either transaction will be successfully concluded in a timeframe that will enable the company to continue trading."
Versarien has appointed Leonard Curtis to conduct an accelerated sale process of the remaining group assets.
"Leonard Curtis will contact potentially interested parties with a view to them submitting offers by early September and, if appropriate offers are received, asset sales being concluded as soon as possible thereafter, should the strategic investment not be successfully completed," it said.
Versarien said that should asset sales be required, it’s likely that the maximum proceeds realisable from the sale of the remaining assets will be less than the group's liabilities.
If this occurs, then the company would cease trading and would be placed into administration, with trading on AIM cancelled.
"Versarien shareholders would not be expected to receive any return from an administration process," it said.
At 1120 BST, the shares were down 25% at 0.014p.