Innovate UK Loan

RNS Number : 5015Q
Versarien PLC
26 February 2021
 

26 February 2021

Versarien plc

("Versarien" or the "Company")

Innovate UK Loan

 

Versarien plc (AIM: VRS), the advanced materials engineering group provides the following update regarding the Innovate UK ("IUK") loan facility, details of which were previously notified on 1 July 2020 and 17 August 2020.  The interim results announced on 21 January 2021 disclosed the loan balance of £1.96 million in "Non-current liabilities" under "Trade and other payables".

In light of the paper published by the International Financial Reporting Interpretations Committee in December 2020, subsequent to the Company's half-year end, the Company announces that the IUK loan balance at 31 March 2021 will, in the Company's annual results, continue to be classified under the "Non-current liabilities" heading on the balance sheet but will be shown as a separate line item. This treatment has been agreed with its auditor, PwC.

 

 

Enquiries:

Versarien

Neill Ricketts, CEO

Chris Leigh, CFO

+44 (0)1242 269 122

SP Angel Corporate Finance (Nominated Adviser and Joint Broker)

Matthew Johnson, Ewan Leggat, Adam Cowl

 

+44 (0)20 3470 0470

Berenberg (Joint Broker)

Mark Whitmore, Simon Cardron

+44 (0)20 3207 7800

Yellow Jersey (Investor Relations) 

Charles Goodwin

Georgia Colkin

Henry Wilkinson

Versarien@yellowjerseypr.com

+44 (0)774 778 8221

 

Notes to Editors:

 

Versarien Plc ( AIM:VRS ), is an advanced engineering materials group. Leveraging proprietary technology, the Group creates innovative engineering solutions for its clients in a diverse range of industries.

 

For further information please see:  http://www.versarien.com  

 

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Versarien (VRS)
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