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42.50 0.50 (1.19%)

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Spread: 3.00 (7.317%)

Market Cap: £10.05m

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Newick Convertible Loan - Update

23 Jan 2014 07:00

RNS Number : 3125Y

Verdes Management PLC

23 January 2014

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCEADFAALLLEAF

Date		Source	Headline
29th Jun 2009	3:00 pm	RNS	Half Yearly Report
11th May 2009	12:00 pm	RNS	Record Label Contract:The Attic Lights
6th May 2009	11:59 am	RNS	Result of AGM
9th Apr 2009	2:18 pm	RNS	Annual Report and Accounts
8th Apr 2009	10:30 am	RNS	Restoration - X-Phonics plc
8th Apr 2009	10:30 am	RNS	Final Results
30th Mar 2009	3:30 pm	RNS	Suspension - X-Phonics Plc
30th Mar 2009	3:30 pm	RNS	Statement re. Suspension
19th Jan 2009	3:10 pm	RNS	Directorate Change
27th Jun 2008	7:00 am	RNS	Interim Results
1st May 2008	7:00 am	RNS	Result of AGM
31st Mar 2008	1:11 pm	RNS	Annual Report and Accounts
31st Mar 2008	8:00 am	RNS	Final Results
11th Jan 2008	10:01 am	RNS	Change of Registered Office
17th Aug 2007	3:16 pm	RNS	AIM Rule 26 Information
27th Jun 2007	7:00 am	RNS	Interim Results
21st May 2007	7:00 am	RNS	Major Record Deal
20th Apr 2007	3:41 pm	RNS	Director/PDMR Shareholding
14th Mar 2007	11:58 am	RNS	Holding(s) in Company
12th Mar 2007	7:00 am	PRN	Record Label Contract
4th Jan 2007	3:57 pm	RNS	Issue of Share Options
20th Dec 2006	1:04 pm	RNS	Issue of Equity
15th Dec 2006	11:15 am	RNS	Total Voting Rights
30th Nov 2006	3:00 pm	PRN	Final Results
30th Nov 2006	12:29 pm	PRN	Record Label Signing & Senior Appointment
30th Aug 2006	7:00 am	RNS	Name change, re-admission
29th Aug 2006	11:40 am	RNS	Result of EGM
25th May 2006	9:48 am	RNS	New Accounting Ref Date
29th Mar 2006	2:00 pm	PRN	Directorate Change
24th Jan 2006	7:00 am	PRN	Re Contract
30th Nov 2005	3:00 pm	PRN	Record Label & Publishing Division: Update
20th Oct 2005	7:00 am	RNS	First Day Dealings

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