21 December 2017
Verditek PLC
("Verditek" or the "Company")
Results of Placing
Verditek plc, (AIM: VDTK), the clean technology company, is pleased to announce the successful completion of the Placing announced earlier today.
A total of 14,444,444 new ordinary shares (the "Placing Shares") have been placed. The Placing Shares will be allocated to Placees at a price of 9 pence per ordinary share, raising gross proceeds of £1.3 million.
Application will be made for admission to trading on AIM ("Admission") of the Placing Shares which is expected to occur on or around 29 December 2017. The Placing Shares will represent, in aggregate, approximately 7 per cent. of Verditek's issued ordinary share capital immediately following Admission.
In addition, and subject to Shareholder consent to issue shares pursuant thereto on a non-pre-emptive basis, the Company intends to issue warrants to the Placees on a one warrant for one share basis, to subscribe for one additional ordinary share at a subscription price of 18p per new ordinary share at any time over the next three years.
Verditek's Non-Executive Chairman Dr Geoff Nesbitt, said: "We are delighted with the level of interest received for the Placing, which will allow us to continue building momentum by taking advantage of opportunities within the market.
"We would like to welcome our new investors and thank existing Shareholders for their on-going support and confidence in our strategy. We now look forward to deploying the new capital to support our continued growth."
Total Voting Rights
Following Admission, the total number of voting rights in the Company will be 202,117,265. No Ordinary Shares are held in treasury. This figure may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
General Meeting
The Company intends to send a circular shortly, calling for a general meeting to be held on or before 14th February 2018 at which resolutions shall be put to the shareholders authorising the issuance of Ordinary Shares pursuant to the Share Warrants on a non-pre-emptive basis.
Ends
Enquiries:
Verditek plc Geoffrey Nesbitt (Non-Executive Chairman) Theodore Chapman (Chief Executive Officer) |
+44 (0) 20 7129 1110 [email protected]
|
Stockdale Securities Limited (NOMAD and Broker) |
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Antonio Bossi Hanan Lee |
+44 (0) 20 7601 6100 |
Yellow Jersey PR (PR & IR) Georgia Colkin Harriet Jackson Henry Wilkinson |
+44 (0) 7825 916 715 +44 (0) 7544 275 882 +44 (0) 7951 402 336 |
Notes to Editors
Verditek plc
AIM listed Verditek plc is a holding company with three businesses operating within the clean technology sector. The Company has a unique liquid gas absorption technology expected to revolutionise the global CO2 capture industry; two solar manufacturing production lines in San Marino each of 25MWp (total 50MWp) producing what is believed to be an innovative and un-paralleled solar PV building material; and a pioneering filtration deodorisation technology, which is commercially proven and tackles a wide range of odours within air and water at a high efficiency.
For more information please visit or contact the following: https://www.verditek.plc.uk/
