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Versarien PLC - Cheltenham, England-based engineering materials company - Announces placing to raise £1.9 million to continue commercialisation work in the construction and leisure sectors. The company says it placed 18.5 million new shares at a price of 10 pence per share. ‘These funds will allow the company to focus on the significant opportunities it is seeing in the construction and leisure sectors. While we will continue to review projects in other sectors, the board believes these two areas represent the best opportunities for near term commercial success,’ Chief Executive Officer Neill Ricketts says.
Current stock price: 10.60 pence, down 34% on Tuesday morning in London
12-month change: down 60%
By Harvey Dorset, Alliance News reporter
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