Last checked at 13 May 2014 07:00
Verdes Management plc ("Verdes" or the "Company")
13 May 2014
Alteration to Broker agreement
Verdes (AIM: VMP) is pleased to announce that it has reached an agreement with its broker SI Capital to cancel 25,000,000 Warrants with an exercise price of £0.001 with immediate effect and replace these with a new agreement for 5,000,000 warrants at an exercise price of £0.02 (2 pence) up to 14 April 2016.
Gillian Leates, Verdes' Chairman, states: "I am extremely glad that we have come to an agreement with SI Capital to alter the terms of the warrants as agreed in September 2013. This is a significant and positive change to the agreement, demonstrating a renewed belief in the Company by its advisers, whose interests are now more closely tied to those of shareholders, both new and old. The Board believes that this revision is further evidence of progress, removing a potentially dilutive element from the Company's growth equation."
For further information please contact:
Verdes Management PLC
Gillian Leates - Chairman 0208 133 2782
SPARK Advisory Partners Limited
Nominated Adviser
Neil Baldwin 0113 370 8974
Mark Brady
SI Capital Limited
Broker
Andy Thacker 01483 413510
Nick Emerson