the_old_trout
24 Sep 2019
Tuesday RNS- AGM & BIGT Statement I was one of those who took copious notes but have not got around to writing them up as I am feeling under the weather with a lurgy. However Shavian has saved me the trouble and provided an excellent write up on Advfn: Shavian24 Sep '19 - 18:56 - 79270 of 79287 0 52 0 Here’s my version of events as I saw them. Please feel free to add or pick holes: Versarien AGM Summary 1100 hours 24 September 2019 Gloucester Rugby Stadium Official Business - 20 minutes All resolutions duly voted and passed including Special Resolution No 6 which was to create an extra 15% of shares additional to the present total to give the board more negotiating flexibility. Curiously, 7% of the proxy votes opposed this; presumably this was an institutional holder seeking to oppose all possible dilution. Q&A - 1 hour 40 mins USA update? Our new man in USA is Brian Berney, a Brit well known to Neill Ricketts (NR) has been in post for 3 months and is quietly developing his contacts and those left him by the previous incumbent Patrick Abbott. Lots of enquiries via membership of National Graphene Association (NGA). November will be a busy month of trade shows. In a later question it was confirmed that the earlier order from an oil drilling company was very much ongoing with extensive testing of a VRS masterbatch. Also, in a reference to NED Iain Gray’s absence in Seattle someone asked was he visiting Boeing. This was met with sealed lips and a cheeky grin! BIGT? No holdups with the BIGT agreement, the deal has just got significantly bigger than originally imagined with more Chinese agencies involved and therefore could not be concluded pre-AGM as had been originally hoped. There are no worries about the speed. BIGT is not a customer but an enabling agency who will set the tone in China on a National scale, fully backed by the Chinese government. NR said there are other graphene companies in China, but the Chinese have become aware of quality issues with many of them. BIGT is to be the enabling Tier 1 partner, a role similar to GEIC in the UK, with provinces such a Shandong [which includes the possible Jinan factory] are to be Tier 2 partners. NR would not be drawn on a completion date but it seems likely to be soon. Completion of the deal will provide access to much more capital which will make a significant difference to all aspects of company progress. MW added that this is our first overseas expansion and it’s vital to get it right. Textiles? This is likely to be an early win, because the testing lead time is much less critical than in Automotive and Aerospace. The existing ink-based printing method is simpler but more costly because two processes are required in manufacture. The new infused graphene method just finished testing with Leeds University has been more complex to solve initially but is more promising because it cuts out one whole process and should prove to be cheaper. Customers could produce textiles using graphene from the current 3Ton type of machine set up locally in a container. VRS has the capability to meet current and anticipated orders in textiles. The Innovate UK grant has helped finance proof of scale-up [to 30 tons/year?] and kit will be bought in as orders materialise AECOM? All seemingly progressing well, as noted in the RNS, with four projects in Middle East and China. Pace of progress in the hands of the HQ of AECOM not VRS where our team is pushing on as hard as it can. AECOM is a consultant not a manufacturer, although they have toyed with the latter role. VRS is the preferred provider for suitable solutions such as the latest development with graphene infused concrete [presumably with 3D printing]. In another question the concrete development was seen as environmentally positive because of the major reduction of CO2 in manufacture. Sustainability will play an increasing role in the future business direction. Direction of Strategy in Marketing? Last year was all about building up collaborations, this year has been about penetrating international markets (China, USA, Korea, Japan) Next year will be all about promotion [and production]. Marketing group Pinnacle have made a new promotional video which will be on the website; the campaign will be to emphasise the quality of VRS’ graphene The company has just finished a period of scrutiny by HMGov to confirm validity of IP and its unique quality. All now done, so full sales and tech support now available including links to foreign governments. Dr Martin Kemp is away representing VRS at Graphene Week [in Strasbourg - Europe’s leading graphene conference sponsored by the EU’s Graphene Flagship] Relationship with UoM/GEIC? Lots of politics swirling around Manchester, and the University is a shareholder so cannot be seen to prefer VRS over competitors [which explains a lot of critical comment on the ADVFN thread]. However, NR has a great relationship with James Baker. Lots of approaches from other Unis all over the world. Snippets: • Tyres not one of the 5 areas of focus because tyre manufacturers are not incentivised for long tyre life – this may change as competition takes hold. VRS has 3 orders from 2 tyre manufacturers, with test dispersions under way • Batteries are also not among the 5 areas of focus, because of the long lead time in development. However Gnanomat is going well, more as a research company in supercapacitors [which may be the next big thing with EVs] • The packaging company collaboration has taken more time than anticipated because the scope is now much bigger, having moved downstream into different divisions of the group • Team Sky was bought by Ineos following a ‘little local medical difficulty’ - progress now resuming but VRS is already in contact with Ineos in other areas. • Hexotene being made in Cheltenham using the earlier production kit. Not a prime focus, being developed in the background • AAC business picked up well following a dull period. Management culture is adapting to the world of graphene and polygrene applications. One senses that this has taken a while to achieve • MW spoke about Korea and Japan, where he has been several times this year. Our local consultant in S Korea is engaging with several major manufacturers and supply chain companies. Japan is a slower market and graphene is not so well understood. NR shut him up on a point concerning provincial governments in Japan • New NED Susan Bowen introduced herself saying she had a very clear strategy of keeping the CEO on the right lines and making sure he knows which of his 3 hats he’s wearing at any given moment! • VRS always on the lookout for expansion possibilities including M&A, looking further up the supply chain. The team is pushing business on every possible front. The company is succeeding by not trying to do the same as everybody else. • The share price is irrelevant to NR most of the time, highly dependent on newsflow. There is not much of a ‘free float’ of shares so NR is on the hunt for the right strategic investors, who ‘get it’." I would just add that on the textiles issue a graphene enhanced T shirt was passed around for people to inspect. Prior to passing it around it was noted that one of the team on the platform removed what seemed to be a manufaturer’s label which would really have given the game away. The product had a strange feel about it and was given a really good going over by the audience as here was something very tangible and the fact that it had a manufacturer’s label on it does indeed suggest that the deal referred to in the RNS is now very close to completion. Let’s also not forget that they would not have been able to use the terminology provided in the RNS unless they had been able to evidence to the Nomad the customer’s intent to sign a commercial production agreement. Finally I questioned Neill and sought assurances about the share price level at which BIGT would buy into the company. Was it the aim to ensure that it (and any associated fund raising) took place at a level around the Primary Bid fundraising for the Gnanomat acquisition and the issuance of shares to Gnanomat at that price as part of the consideration (145p)? In asking the question I accepted that NR would not be able to give a definitive answer but his response was certainly very encouraging. Hot toddy consumed so off to bed I go, hoping I might feel better tomorrow. ATB, Tot
EyesonHawk2
24 Sep 2019
Tuesday RNS- AGM & BIGT Statement Brief report from an AGM attendee: “Very happy with the AGM, just over 100 there. Neill very relaxed with a lot going on everywhere. BIGT deal got bigger, very complicated with both governments involvement offering enormous scope for the company, it will be on our terms price is not an issue. Textiles look like they will be fairly soon but no timescales given. Graphene T shirt handed around as an example. Barry picking up everything from Patrick and more in the USA, Korea engagement going well. Scale up of production could be multiple 3T units or could be the 30T route which is currently being worked on. Scale up of ink production is just waiting for the commercial deal to be finalised with textiles. Gnanomat progress is very pleasing, Flattering to see FGR now trying to copy. Looking at opportunities to buy other business to move up the chain but no details given. Short summary from me, no doubt more details will be posted by others who took copious notes.â€
EyesonHawk2
24 Sep 2019
Tuesday RNS- AGM & BIGT Statement Neill Ricketts (Versarien CEO) Vox Markets Podcast: Vox Markets Versarien and Open Orphan - Vox Markets Versarien discuss their AGM statement which covers progress within different sections of the business. Open Orphan provides an overview of the company and its potential. Eyeson
sueneave9
24 Sep 2019
Tuesday RNS- AGM & BIGT Statement Changing tack massively - just heard the latest goings on in Parliament! Prorogation unlawful! That will stir things up!
EyesonHawk2
24 Sep 2019
Tuesday RNS- AGM & BIGT Statement Previously at 130p the BIGT deal getting over the line by todays AGM I believe was factored in. As the AGM approached and no BIGT news has been forthcoming the sp has settled back to an optimum price which appears to be circa 105p. Although todays RNS is pretty positive across the board firm orders are needed for VRS. We shall await reports coming out of todays AGM Q&A session and hopefully further details will emerge! Eyeson
sueneave9
24 Sep 2019
Tuesday RNS- AGM & BIGT Statement Why is the SP constantly heading downwards when there seems to be positive news coming out ?
EyesonHawk2
24 Sep 2019
Tuesday RNS- AGM & BIGT Statement Well there you have it, BIGT stll not quite there but a pretty positive statement all the same! “Whilst the Versarien Board wishes to conclude a deal in China as soon as reasonably possible, it re-iterates its position that it will only do so if it is in the best interests of the Company’s shareholders, The negotiations, whilst protracted, are with the objective of establishing a long-term and significant partnership between Versarien and BIGT in China.†24 September 2019 Versarien plc AGM Statement Versarien Plc (AIM: VRS), the advanced materials engineering group, is today holding its Annual General Meeting (“AGMâ€) at 11am at the offices of Gloucester Rugby, at Kingsholm Stadium, Kingsholm Road, Kingsholm, Gloucester, GL1 3AX. At today’s AGM the Company’s Executive Chairman and CEO, Neill Ricketts, will make the following statement: I am pleased to report that the Company has continued to make significant progress since the release of our annual results on 17 July 2019, in particular with a number of our collaborations and our activities in China. As reported on the 26 July 2019, the Company had signed a Letter of Intent with its Asian based textile partner. I can confirm that advanced discussions have now been held with the intent to sign a formal commercial partnership in the near future. In addition, a year-long trial of a new graphene delivery method into textiles at Leeds University has now been successfully completed, with results which show significant improvements in tensile strength and thermal conductivity through the addition of our graphene. This development will allow us to expedite further commercial trials in both consumer and industrial textile applications with our current partners in these sectors. We are also trialling a new grade of concrete at the Graphene Engineering Innovation Centre and at a civil engineering institute featuring a graphene based material. These trials form part of our collaboration agreement with AECOM, along with a further four projects in China and the Middle East. Our other collaborations that we outlined in the annual report continue to progress in line with the Company’s expectations. In China, the Versarien and Beijing Institute of Graphene Technology Co. Ltd (“BIGTâ€) teams have been working together to progress the terms of the planned partnership announced on 15 April 2019. In particular: · BIGT has assisted Versarien in successfully setting up a wholly foreign owned enterprise (WFOE) with a registered office in Beijing; · BIGT has secured the endorsement and support of provincial Chinese governments for the project, including the China International Industry Graphene Union (“CIGIUâ€, which was established as part of 'Made in China 2025 ’ and ‘the 13th Five-year Plan’ and partners with BIGT with the objective of establishing ‘China Graphene Manufacturing’ at a national level); · Incubation and factory facilities within preferred key strategic provinces are currently being discussed for final consideration; and · BIGT continues to work towards the purchase of up to 15% of Versarien’s share capital through the issue of new shares to BIGT, but BIGT acknowledges Versarien’s desire to also offer shares to institutions and private investors at the same time as any investment by BIGT. The strategy agreed between BIGT and Versarien is to create an incubation hub in Beijing in partnership with the Chinese Government’s Administrative Committee of Beijing Petrochemical New Materials Science and Technology Industry Base, Versarien and CIGIU in return for access to a funded science park, access to a pipeline of projects and to locate a factory in a funded Sino-British industrial park within Shangdong Province. BIGT continues to work with the Director General of the Beijing Municipal Bureau of Economy and IT. The Director General of the Beijing Municipal Bureau of Economy and IT has provided the following statement to the Company: “The collaboration between Versarien, BIGT, CIGIU and the Beijing Government is completely aligned with the industrial strategic positioning and trend. We will lend our full support, without hesitation. We will also liaise with other Beijing Government Departments and the Beijing District Government to progress this initiative. Throughout the process we will carefully plan the deal structure and conditions and the IP matters. In conclusion we have no problem in supporting this collaboration.†Whilst the Versarien Board wishes to conclude a deal in China as soon as reasonably possible, it re-iterates its position that it will only do so if it is in the best interests of the Company’s shareholders, The negotiations, whilst protracted, are with the objective of establishing a long-term and significant partnership between Versarien and BIGT in China.
EyesonHawk2
17 Sep 2019
Neill Ricketts interview Insider Media Ltd Neill Ricketts: His Dark Materials | South West Business Leader | Insider Media... {summary}
EyesonHawk2
23 Aug 2019
AECOM Graphene Arch Total Market Solutions – 23 Aug 19 Versarien - CEO Interview - Total Market Solutions Neil Ricketts Chief Executive at Versarien Plc caught up with Sarah Lowther to discuss the latest developments from the business, during the interview we hear more about the July showcasing event which Ricketts believes will both assist and boost...
EyesonHawk2
22 Aug 2019
Thursday RNS - Berenberg Joint Broker Further inbound investment, more flexibility and possibly a precursour to the China BIGT. It was also Berenberg who set up the Ibiza investors weekend and therefore could possibly mean that HNWI’s are coming aboard (High Net Worth Individuals). eyeson
dkok
22 Aug 2019
AECOM Graphene Arch Kooiker Probably only if its strong enough to take the weight of Mssrs Junkers and Tusk dangling from it!
kooiker
22 Aug 2019
AECOM Graphene Arch Could arches like this help solve the Irish border problem ?
jaytee41
22 Aug 2019
Thursday RNS - Berenberg Joint Broker Any ideas why they need a joint broker ?
EyesonHawk2
22 Aug 2019
Thursday RNS - Berenberg Joint Broker RNS Number : 9073J Versarien PLC 22 August 2019 Versarien plc (“Versarien†or the “Companyâ€) Appointment of Joint Broker Versarien, the advanced materials engineering group, is pleased to announce that it has appointed Berenberg as the Company’s Joint Corporate Broker to work alongside its existing Corporate Broker and Nominated Adviser, Canaccord Genuity, with immediate effect.
EyesonHawk2
21 Aug 2019
VRS Annual Report 2019 From todays RNS here is a link to Versariens Annual Report for 2019: [link]
