Graphene manufacturer Versarien has called for a general meeting with its shareholders to discuss the survival of the business.
The Gloucestershire engineering firm, which makes products using the nanomaterial for the automotive, clothing, biomedical and aerospace sectors, last week reported a pre-tax loss of £3.4m for the six months to March - up from a £2.1m loss for the same period last year. The AIM-listed firm, which has previously secured partnerships with fashion label Superdry and kit suppliers of the England rugby team Umbro, saw group revenue dip from £3.9m to £2.6m, with graphene revenue in particular sliding from around £1m to around £90,000.
The general meeting will be held on July 4 with the purpose of renewing the company's share capital authorities. Bosses are encouraging shareholders to vote through measures to ensure the survival of the business.
