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Last checked at 
24 Dec 2013 07:00
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24 December 2013
Embargoed for 700 a.m.
Verdes Management PLC
Newick Convertible Loan Agreement - Update
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24 December 2013
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Verdes Management PLC
Β Newick Convertible Loan Agreement - update
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("Verdes" or the "Company")
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On 16 December 2013 the Company announced an amendment to the Β£500,000 convertible loan agreement ("Amended Agreement") with Newick Developments Limited ("Newick") in which the Company has a facility to draw Β£500,000 in Convertible Loan Notes from Newick (the "Loan").
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The Amended Agreement contains a term that the first tranche of the Loan of Β£125,000 was to have been received by the Company on Friday 20 December 2013. As at this point the funds, whilst requested by the Company, have not been received.
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The Company has been advised by Newick that the funds have been transmitted by its bank and are currently in the banking system, pending receipt by Verdes' bank..
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The Company will make a further announcement once these funds have been received.
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For further information, please contact:
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Verdes Management PLC
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Sarah Bertolotti -Β FinanceΒ Director 07932 569404
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SPARK Advisory Partners Limited
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Neil Baldwin 0113 370 8974
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