Versarien PLC - Cheltenham, England-based engineering materials company - Says Neill Ricketts has resigned as chief executive officer from the company. Says it is considering the ‘appropriate longer term management structure’ and will update in due course. Last month, the firm said the current macro-economic conditions have delayed the commercialisation it had been expecting, and hinted at the potential need for a fundraise.
In February, it reported a pretax loss of £8.3 million in the 18 months to September 30, compared to £8.1 million the year before. Revenue rose to £11.1 million from £5.7 million.
Current stock price: 3.40 pence each, down 33% on Friday around midday in London
12-month change: down 84%
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