So...3 Aug 2015 19:55
Adam Reyonlds is to be removed from the new proposed board.
Verdes Management PLC (to be renamed REACT Group plc on Admission)
Company website changing from www.verdesmanagementplc.com to www.reactbeyondcleaning.co.uk
Ordinary Shares of 0.25p each (Following a share consolidation of 25:1)
Nil shares to be held as treasury shares
Up to 275,389,753 ordinary shares to be admitted (of which 929,953,462 shares of 0.01p are currently admitted to trading (this will consolidate into 37,198,139 shares of 0.25p); 92,857,142 new ordinary shares are to be issued as consideration for the Acquisition; 104,166,666 new ordinary shares are to be issued in relation to the Placing, up to 24,798,759 new ordinary shares in an Open Offer; and 16,369,047 new ordinary shares are to be issued in relation to conversion of the outstanding convertible loan).
Amount of new monies to be raised on Admission between £1.75 million (the subject of a firm placing and up to £0.416m in a non-underwritten open offer
In addition, conversion of outstanding convertible loan (plus " premium" on conversion) of £275,000 into new ordinary shares, conditional on Admission of the Placing Shares, Consideration Shares and Open Offer Shares
Market Capitalisation on Admission of between c£4.2- c£4.6 million (dependent upon the take up in the open offer) (based on the placing price/open offer price of 1.68p per new ordinary share