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23 Jan 2014 07:00
Verdes Management PLC
Newick Convertible Loan Agreement - Update
23 January 2014
Verdes Management PLC
Newick Convertible Loan Agreement - Update
("Verdes" or the "Company")
On 16 January 2014, the Company announced that "Further to the announcement made on 24 December 2013, the Company is pleased to report that the first tranche of £125,000 due under the convertible loan agreement with Newick Developments Limited ("Newick") has been received by the Company."
On 22 January 2014, Verdes received a letter from the intermediary which transferred these funds to Verdes with a request for the monies to be returned. The Board is seeking to urgently clarify the position with this intermediary and with Newick's representatives, and will report shortly.
For further information, please contact:
Verdes Management PLC
Daan van den Noort Chairman 00 31 6 10 89 65 81
Sarah Bertolotti - Finance Director 07932 569404
SPARK Advisory Partners Limited (Nominated Adviser)
Neil Baldwin 0113 370 8974
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