Mon, 11 Aug 2025 | BUSINESS SALE
Listed advanced engineering materials company Versarien has appointed professional services firm Leonard Curtis to undertake an accelerated sale process of the group’s remaining assets.
The announcement comes shortly after the group said that parts of the business were set to enter administration following a failed attempt to find a buyer. Last month, Versarian said that it had commenced a process to place Versarien Graphene Limited into administration, as well as to begin the voluntary liquidation process for Cambridge Graphene Limited and 2-DTech Limited.
These measures, part of a group plan to conserve cash, were said to extend its forecast cash runway through to the end of August 2025, providing further time for a proposed strategic investment, first announced in March 2025, to be closed.
However, despite Versarian remaining in talks with its strategic investor and continuing to market Total Carbide Limited for sale, the group has said it is uncertain whether either the proposed strategic investment or the sale will be completed in a timeframe that would enable it to continue trading.
Versarian announced the appointment of Leonard Curtis to run an accelerated sale process in a stock exchange statement. The assets in question are those of Versarien plc and its shares in Gnanomat SL and Total Carbide Limited.
Leonard Curtis will contact potentially interested parties, aiming to have offers submitted by early September. If appropriate offers are received, it hopes to conclude asset sales as swiftly as possible, should the group’s proposed strategic investment not be completed successfully.
The statement continued: "In the event that asset sales are required to be concluded it is likely that the maximum proceeds that may be realisable from the sale of the group's remaining assets will be less than the liabilities of the group.”
"In these circumstances, the company would cease trading and would be placed into administration which would result in the suspension of trading of the company's shares on AIM. Versarien shareholders would not be expected to receive any return from an administration process."
In the year to September 30 2024, Versarien plc’s group non-current assets were valued at around £4.3 million and current assets at £2.3 million, with total equity amounting to £6.6 million.
For the year to September 30 2023, Total Carbide Limited reported revenue of £2.7 million, compared to around £4 million for the 18 months to September 30 2022, while falling from a post-tax profit of £186,000 to a loss of £144,000. Its total equity at the time stood at approximately £4 million.
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