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Last checked at 
24 Dec 2013 07:00
24 December 2013
Embargoed for 700 a.m.
Verdes Management PLC
Newick Convertible Loan Agreement - Update
24 December 2013
Verdes Management PLC
Newick Convertible Loan Agreement - update
("Verdes" or the "Company")
On 16 December 2013 the Company announced an amendment to the £500,000 convertible loan agreement ("Amended Agreement") with Newick Developments Limited ("Newick") in which the Company has a facility to draw £500,000 in Convertible Loan Notes from Newick (the "Loan").
The Amended Agreement contains a term that the first tranche of the Loan of £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.
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..
The Company will make a further announcement once these funds have been received.
For further information, please contact:
Verdes Management PLC
Sarah Bertolotti - Finance Director 07932 569404
SPARK Advisory Partners Limited
Neil Baldwin 0113 370 8974
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