Versarien Plc (LON:VRS) has sold its Korean plant to MCK Tech, along with an exclusive licence agreement for patents, as part of its turnaround strategy.
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Versarien PLC on Monday said it agreed its plant and equipment in South Korea for GBP604,000 to MCK Tech Co Ltd, alongside exclusive licence deal with MCK Tech for the use of five patents.
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Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to announce that it has entered into a wide-ranging series of agreements (together the Agreement ) with Graphene Lab Co Ltd ( Graphene Lab ), a South Korean based company specialising in chemical vapor deposition ( CVD ) graphene, including sensors, OLEDs, and flexible transparent touch panels, with the intention of advancing both Versarien s and Graphene Lab s proposed activities in South Korea. This follows the Company s acquisition of certain graphene production related assets and intellectual property from South Korea based Hanwha Aerospace Co. Ltd (the Acquisition ), as announced on 22 December 2020.
In addition, Graphene Lab has made a strategic investment of £1.93 million in the Company through a subscription for 4,280,000 new Ordinary Shares (the Subscription Shares ) at an issue of price of 45 pence per Ordinary Share (the Issue Price ). The Subscription Shares,
Versarien PLC (AIM:VRS) | RNS | Versarien PLC - £1.93m strategic investment by Graphene Lab proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.