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Last checked at 
27 Feb 2014 15:15
27 February 2014
Verdes Management PLC
("Verdes" or the "Company")
Notice of Intention to Appoint Administrator - update
The Company today provides an update, further to the announcement made on 14 February 2014, in which Verdes announced that it has filed at court a notice of intention to appoint an administrator.
The initial filing provided the Company with a statutory moratorium for a 2 week period ending 27 February 2014. The Company has filed a further notice of intention to appoint administrators at court today to enable the Company to have the benefit of the statutory moratorium for a further two week period.
The Board has continued to explore one particular option which would involve introducing new equity to the business and compromise arrangements with various stakeholders in the business. Whilst encouraging to a point, there can be no assurance that these discussions will prove be successful. A further update will be made as and when developments occur.
The suspension to trading in the Company's shares, as announced on 30 January 2014, remains effective.
Enquiries:
Verdes Management PLC Daan van den Noort - Non Executive Chairman
|
+316 1089 6581 |
Nominated Adviser SPARK Advisory Partners Limited Neil Baldwin |
0113 370 8974 |
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