Last checked at 2 Jan 2014 07:00
Verdes Management PLC
Issue of Circular
("Verdes" or the "Company")
The Company has today posted a document ("the Circular") to shareholders convening a general meeting for 15 January 2014 at 2.00pm.
The principal purpose of the Circular is to seek Independent Shareholders' approval of the waiver of the obligation of Newick Developments Limited, Westminster Asset Management Limited and parties deemed to be acting in concert with them to make a mandatory offer to acquire the Company's shares not already owned by them in the event that full drawdown and conversion of the Newick Convertible Loan and/or conversion of the Westminster Convertible Loan occurs. At the same time Verdes is seeking Shareholders' approval for a capital reorganisation to allow the Company to issue the Ordinary Shares required for the conversion of the Convertible Loans, to allow the Company to issue further Ordinary Shares in the future, to eliminate the Deferred Shares, which have no real value, from the Company's balance sheet such that there is only a single class of ordinary share in the Company.
The document will be available on the Company's website at www.verdes-group.com
For further information please contact:
Verdes Management PLC
Daan van den Noort - Chairman 00 31 6 10 89 65 81
Jan Geertman - Consultant to the Board 07825 501627
SPARK Advisory Partners Limited (Nominated Adviser)
Neil Baldwin 0113 370 8974
ENDS