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Director dealings: Versarien CEO lowers stake

Neill Ricketts, chief executive of engineering group Versarien, disposed of 403,720 ordinary shares in the AIM-quoted firm on Tuesday, lowering his stake to a total of 15.25m shares, or 10.26% of the company's entire issued share capital.
Ricketts, a former board-level director at Elektron Technology, sold the shares at an average price of 121p each for a total of £487,617.44.

Versarien reached a wide-ranging agreement over graphene-based inks with India-based holding company Arrow GreenTech at the same time it launched its new 'Graphinks' product range earlier in June.

Arrow GreenTech, a leading global manufacturer of cast water-soluble film, and Versarien agreed to an exclusive commercial arrangement for the supply of its propriety graphene inks to Arrow, for onward supply to the water-soluble film market world-wide.

"We are delighted to have entered into this Agreement with Arrow GreenTech, providing both a strong channel for our Graphinks into the fast growing water soluble film market and, more widely, a strong partner for Versarien in India," Ricketts said.

The two companies will collaborate on exploring the benefits of using graphene in the production of items such as banknotes, while Arrow will also act as an agent in Versarien's dealings with the tyre and associated rubber sectors in India.

As of 1510 BST, Versarien shares were up 4.44% to 132.11p.

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