Holding(s) in Company

RNS Number : 8389L

Versarien PLC

16 August 2013

 



16 August 2013

Versarien plc

("Versarien" or the "Group")

Holding in Company

Versarien plc (AIM: VRS), the advanced engineering materials group, has been informed that Elektron Technology Plc ("Elektron") no longer holds an interest in the Company.

Under the terms of the Acquisition Agreement dated 6 June 2013 pursuant to which Versarien acquired Total Carbide Limited, Elektron agreed not to dispose of 5,714,286 ordinary shares in the Company it received as consideration for a period of six months from admission to trading on AIM.  The Company has agreed, in return for the payment of a fee by Elektron, to waive this restriction and allow Elektron to dispose of its entire interest in Versarien.

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For further information:

Versarien plc
Neill Ricketts, Chief Executive Officer	Tel: [phone]
	www.versarien.com

Northland Capital Partners Limited (Nomad and Joint Broker)
William Vandyk / Lauren Kettle	Tel: [phone]
	www.northlandcp.co.uk
Westhouse Securities Limited (Joint Broker)
Tom Griffiths / Rob Sanders	Tel: [phone]
	www.westhousesecurities.com

Media enquiries:

Abchurch Communications Limited
Henry Harrison-Topham /  Alistair de Kare Silver	Tel: [phone]
	www.abchurch-group.com

Notes to Editors

Versarien develops advanced micro-porous metals for thermal management. The open celled metallic foams produced by the Group at its manufacturing factory in Cinderford, Gloucestershire, are 'biomimetic' - that is they mimic the sponge like structures of biological materials, e.g. bone and coral.

Versarien's porous metals have an exceptionally high surface area relative to volume which means they are ideally suited to any function where surface area is important, for example heat transfer, heat exchange, catalysis and energy storage.  Versarien is initially targeting the thermal management industry due to the material's superb heat transfer properties.  The thermal management market is expected to reach US$S11.1 billion during 2013 (Source: BCC Research).

The Group's lead product is VersarienCu, a micro-porous copper. When incorporated into liquid cooling systems, VersarienCu can improve efficiency by up to ten times. Versarien's key market is cooling systems for central processing units (CPUs), hardware that is found in high performance workstations (engineering, science, CGI, animation), computer clusters, supercomputing infrastructure and data centres. VersarienCu can be retrofitted into 'cold plates' within existing infrastructure and the Group also intends to produce complete cooling systems containing VersarienCu.  

 

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