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The Versarien Bailout Placing (natch) prize sweepstake result. And the winner is...

By Tom Winnifrith & Steve Moore | Friday 5 May 2023

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Now approaching a month ago when the shares closed at above 2.5p, it was clear that Versarien (VRS) required a bailout placing and we launched a prize sweepstake to name the placing price and, as a tie breaker, the price the day before the placing – with the prize 500ml of Tom’s Greek Hovel olive oil. Versarien duly obliged earlier this week at a massively discounted (natch) to the prior closing 2.0625p share price, 1.25p. And the winner is...

Pete Brailey as the only entrant with 1.25p. Tom Winnifrith was close at 1.2p (tie break 2p) and cuthbert (2.05p) and Phil B (2.1p) close with their tie breakers but with respectively 1.9p and 1.35p as their placing prices.

Even then, the company was being over-estimated then! And with only a desperate £531,624 (gross) raised, it looks like cash crunch postponed by only 2 months at most – and then what?!

Natch, still, now at 1.2p, a prospective £3.2 million market cap, longest possible Bargepole / Sell.

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