React Group Regulatory News (REAT)

Verdes Management PLC ("Verdes" or the "Company")

Update

7 July 2015



Further to the Company's previous announcements on 15 January 2015 and 16 February 2015, the Board of Verdes Management PLC (AIM: VMP) updates shareholders and the market as follows.

Investing Policy update

The Company is pleased to confirm it is now at an extremely advanced stage of diligence in relation to the acquisition ("Acquisition") referred to in the January 15 2015 announcement, which would constitute a reverse takeover under the AIM Rules. The Board expects to announce further details of this Acquisition, and to publish an Admission Document before the end of this month. This acquisition will constitute a reverse takeover and will require shareholders' approval in a general meeting.

Other proposals

In addition the Company expects to announce proposals which will, inter alia:

- Raise new funds for the Company in a firm placing, and a conditional placing with clawback and an open offer to existing shareholders;

- Effect a 1 for 25 share consolidation;

- Regularise the Company's capital structure by buying back the three outstanding classes of deferred shares; and

- Change the Company's name.

Financial Results

At the same time as the publication of the Admission Document referred to above, the Company intends to issue both the Annual Report and accounts for the year ended 30 September 2014 ("2014 Accounts"), and the interim results for the 6 months ended 31 March 2015.

London Gazette Notice

The Company has failed to file its 2014 Accounts with Companies House within the 6 month period following the end of its accounting period required by the Companies Act 2006. As a result, a Notice has today been published in the London Gazette, the effect of which is that, if the Company fails to file the 2014 Accounts within 3 months of the date of the Notice, the Company will be struck off at Companies House. As indicated above, the Board expects that the 2014 Accounts will be filed by the end of July.

For further information, please contact:

Verdes Management PLC

Gill Leates - Chairman 07799 662642

SPARK Advisory Partners Limited

Neil Baldwin 0113 370 8974

Mark Brady 0113 379 8971

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