Versarien plc (AIM: VRS), the advanced engineering materials group, is pleased to announce that it has entered into an agreement to acquire 85 per cent. of the issued share capital of 2-DTech from The University of Manchester. 2-DTech specialises in the supply, characterisation and early stage development of graphene products. The total consideration for the Acquisition is £440,000 to be settled by a mix of cash and new ordinary shares.
The Company also announces that it has raised £5,500,000 (before expenses) through the placing of 21,153,847 new Ordinary Shares at 26 pence per share. The Placing, which was oversubscribed, is conditional, inter alia, on the passing of the Resolutions to be proposed at a General Meeting to be held on 30 April 2014.