Subscription to raise £1,000,000

07 May 2020

Verditek PLC

("Verditek" or the "Company")

Subscription of Ordinary Shares to raise £1,000,000

Verditek plc, (AIM:VDTK) the clean technology company is pleased to announce that it has raised £1,000,000 before expenses by way of a subscription of 40,000,000 ordinary shares  ("Ordinary Shares") at 2.5 pence per Ordinary Share (the "Issue Price") ("the Subscription Shares") (the "Subscription") and that the issue was oversubscribed.

The Issue Price represents a discount of approximately 22 per cent to the closing mid-market price of Verditek's existing Ordinary Shares on 6^th May 2020 (being the last business day prior to this Announcement).

The Subscription is not being underwritten and is conditional on admission of the Subscription Shares to trading on AIM. The Subscription is being conducted pursuant to the existing authorities granted to the Directors of the Company at its annual general meeting on 8 November 2019. The Subscription Shares represent approximately 14 per cent. of the Company's issued share capital as enlarged by the Subscription Shares.

Application has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will occur at 8.00 a.m. on 18^th May 2020. The Subscription Shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after the admission of the Subscription Shares, and will otherwise be identical to and rank on Admission pari passu in all respects with the existing Ordinary Shares. The Subscription Shares are not being made available to the public and are not being offered or sold into any jurisdiction where it would be unlawful to do so.

Following Admission, the Company will have 289,393,534 Ordinary Shares in issue, none of which will be held in treasury. Accordingly, shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.  

Rob Richards, CEO of Verditek, commented: "We are delighted with this fresh injection of capital into the Company and the strong demonstration of support from our investors. This will allow us to aggressively pursue our commercialization strategy and the acceleration of the production at our state-of-the-art facility in Italy.  In turn, this will allow us to transition the company from the R&D phase, rapidly into a commercially successful operating business

For further information, please contact:

Verditek plc

RH Lord David Willetts FRS (Non-Executive Chairman)                                      +44 (0) 20 7129 1110

Rob Richards (Chief Executive Officer)                                                                     [email protected]

WH Ireland Limited (NOMAD and Broker)

Chris Hardie (Director, Corporate Finance)                                                             +44(0)207 220 1666  

               [email protected]

About Verditek plc

AIM listed Verditek plc is a holding company with three businesses operating within the clean technology sector. The Company is focused on commercializing our lightweight low-profile solar panel business. With manufacturing based in Lainate Italy, we have developed renewable power solutions for our customers, that drive solar energy into applications previously impossible. The exceptional properties of our solar panels replace diesel fuel in business such as perishable goods transport, off-grid telecommunication towers, electric vehicle charging stations, residential and holiday home power solutions and solar roofing for light-weight industrial roofing.

In addition to our current PV panels in production, we have partnered with an outstanding leader in graphene technology, Paragraf, and have created the worlds' first Graphene Integrated Photo Voltaic cell. We are working together to engineer the technology for commercialization.

Verditek provides compelling commercial solutions that make our customers business sustainable.

For more information please visit or contact the following:  https://verditek.com/