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On 30 September 2024, Versarien plc completed the disposal of its subsidiary, AAC Cyroma Limited, to Harper Bennett Limited for £550,000, payable in 16 equal quarterly instalments of £34,375 commencing December 2024. The Purchaser has paid four instalments totalling £137,500, leaving £412,500 outstanding. Versarien plc has now been advised that AAC Cyroma intends to enter into creditors' voluntary liquidation, prompting Versarien to seek to invoke its charge over AAC Cyroma's assets to recover the outstanding consideration.
| Date | 15 Dec 2025 |
| Time | 15:53:18 |
| Category | Corporate updates |
| ID | 6380L |
15 December 2025
Versarien plc
("Versarien" or the "Company" or the "Group")
Update on the Disposal of AAC Cyroma Limited
On 30 September 2024 Versarien plc (AIM: VRS), the advanced materials engineering group, announced that it had completed the disposal of the Company's wholly owned subsidiary, AAC Cyroma Limited ("AAC Cyroma"), to Harper Bennett Limited (the "Purchaser") for a total consideration of £550,000.
The consideration of £550,000 was payable in cash, in 16 equal quarterly instalments of £34,375, commencing in December 2024. Since that date, the Purchaser has paid four instalments totalling £137,500 leaving £412,500 outstanding.
Versarien has now been advised that AAC Cyroma intends to enter into a creditors' voluntary liquidation. Consequently, the Company will now seek to invoke its charge over the assets of AAC Cyroma to recover the outstanding consideration payable. The amount recoverable will be dependent upon any offers made to the liquidator for the business or the value of the assets should they be sold either by private treaty or at auction.
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:
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Versarien Stephen Hodge, Chief Executive Officer Chris Leigh, Chief Financial Officer |
c/o IFC |
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SP Angel Corporate Finance (Nominated Adviser and Broker) Matthew Johnson, Adam Cowl |
+44 (0)20 3470 0470
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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