Versarien on the brink

Company Situation - Versarien plc has filed a notice of intention to appoint administrators, leading to the suspension of its shares on the AIM [1] - The company is seeking advice from insolvency specialists at Leonard Curtis while exploring asset disposal options [1] Financial and Operational Context - The board acknowledges reliance on creditor support to continue operations, despite ongoing interest in acquiring its assets [2] - A notice has been served to protect the company from creditor enforcement actions for two weeks, allowing secured creditors to appoint an alternative administrator if desired [2] Product and Industry Engagement - Versarien is known for its proprietary graphene admixture, Cementene, which allows for a reduction of 20% of ordinary Portland cement in precast concrete mixes [3] - The company has partnered with Balfour Beatty to develop new materials and concrete mixes [3] - Versarien is involved in the National Highways Roads Research Alliance and the Digital Roads of the Future project [3] Research and Development Initiatives - The company collaborated with Skanska Costain Strabag Joint Venture (SCS JV) to trial graphene reinforcement in 3D printed concrete elements for the HS2 construction project [4]