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IN BRIEF: Verditek Progressing Despite Virus; Unveils Australia Plan

Wed, 12th Aug 2020 15:02

Verditek PLC - London-based company producing solar panels - Notes a number of projects from new contract wins have been shipped despite Covid-19 backdrop. Focusing on mining and marine markets in Australia, "potentially very attractive sectors".

Current stock price: 17.87 pence

Year-to-date change: up sharply from 3.60p

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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6 Mar 2024 09:25

AIM WINNERS & LOSERS: Challenger Energy up on Chevron farm-out deal

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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1 Mar 2024 18:29

TRADING UPDATES: Alpha Real Trust says in "robust" financial shape

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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28 Feb 2024 18:13

TRADING UPDATES: AB Dynamics trades in line; Verditek sells solar arm

(Alliance News) - The following is a round-up of updates by London-listed companies, issued Wednesday and not separately reported by Alliance News:

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28 Feb 2024 14:31

Verditek shares jump as it agrees sale of solar assets

(Sharecast News) - Verditek shares were surging on Wednesday afternoon, after it announced a conditional sale and purchase agreement to divest its solar business, including Verditek Solar Italy, to Verditek Solar Limited for £0.53m.

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23 Feb 2024 20:08

IN BRIEF: Verditek sale talks going well but future still uncertain

Verditek PLC - London-based producer of lightweight solar panels - Says talks with the bondholders in relation to the proposed disposal of its solar business are progressing positively. Earlier in February, Verditek agreed to sell the business to a new company established by holders of Verditek's secured convertible loan notes, for GBP528,340 in notes and GBP50,000 in cash. Furthermore, company says it has implemented additional measures to reduce cash burn. This means that Verditek has extended its current cash runway until the end of the week beginning March 4. Warns that should talks not complete, the directors will likely consider alternative routes including, potentially, a liquidation of the company.

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23 Feb 2024 12:25

Verditek reports progress with proposed disposal

(Sharecast News) - Verditek updated the market on its proposed disposal on Friday, announcing positive progress in negotiations with bondholders regarding the sale of certain assets.

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21 Feb 2024 15:14

UK shareholder meetings calendar - next 7 days

Thursday 22 February 
Bankers Investment Trust PLCAGM
Narf Industries PLCAGM
RWS Holdings PLCAGM
Sunrise Resources PLCAGM
Friday 23 February 
Blencowe Resources PLCAGM
Bluebird Merchant Ventures LtdAGM
Caledonian Trust PLCAGM
Chemring Group PLCAGM
Marble Point Loan Financing LtdEGM
Monday 26 February 
Oncimmune Holdings PLCAGM
Tuesday 27 February 
abrdn Diversified Income & Growth PLCAGM
Asian Energy Impact Trust PLCGM re annual accounts
Custodian Property Income REIT PLCGM re merger with abrdn Property Income Trust Ltd
JPMorgan Mid Cap Investment Trust PLCGM 2nd re merger with JPMorgan Mid Cap
LondonMetric Property PLCGM re merger with LXi REIT Plc
Victorian Plumbing Group PLCAGM
Vinanz LtdAGM
Wednesday 28 February 
abrdn Property Income Trust LtdGM re merger with Custodian Property Income REIT PLC
Beacon Rise Holdings PLCEGM re continued pursuit of an acquisition
Downing Strategic Micro-Cap Investment Trust PLCGM re managed wind-down
Image Scan Holdings PLCAGM
PPHE Hotel Group LtdEGM re waiver of mandatory offer provisions
Verditek PLCGM re disposal of solar business
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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7 Feb 2024 13:54

Verditek inks preliminary deal to offload solar business

(Sharecast News) - Verditek announced on Wednesday that it has reached a preliminary agreement to sell its solar business in a deal involving the establishment of a new company, 'Newco', by the holders of its secured convertible loan notes.

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7 Feb 2024 11:27

IN BRIEF: Verditek shares plunge on plans to sell solar business

Verditek PLC- London-based producer of lightweight solar panels - Agrees terms to sell its solar business to a new company, which will be established by the holders of Verditek's secured convertible loan notes for GBP528,340 in notes and GBP50,000 in cash. Upon disposal, Verditek will be regarded as an AIM rule 15 cash shell. Verditek will therefore need to, within six months, make an acquisition or acquisitions which constitute a reverse takeover. Says that it is currently in discussions with "a group of individuals", who it is proposed would come in as a new management team with a view to completing a fundraise of about GBP300,000. The aim would be to conduct a reverse takeover within 6 months of completion of the disposal. "There is no guarantee that this proposal will proceed as it still at an exploratory stage and the company will update the market with more information as soon as it is available," Verditek adds.

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7 Feb 2024 09:29

AIM WINNERS & LOSERS: Verditek falls on cash shell plans

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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4 Dec 2023 17:33

TRADING UPDATES: 600 Group disposal and funding talks continue

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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29 Nov 2023 10:55

Verditek shares fall as firm looks to fundraise on cash depletion

(Alliance News) - Verditek PLC on Wednesday expressed the urgency of a fundraise in the next few months, as its cash resources become increasingly limited.

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29 Nov 2023 10:45

AIM WINNERS & LOSERS: Solar panel maker Verditek says needs fundraise

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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29 Nov 2023 09:29

Verditek in discussions to raise urgent cash, shares plummet

(Sharecast News) - AIM-listed Verditek saw shares plummet on Wednesday after the solar panel group said it was exploring a number of urgent financing options as it is running out of money.

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29 Sep 2023 13:22

EARNINGS: Eden Research loss widens on GBP5 million impairment

(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Friday and not separately reported by Alliance News:

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