1 Mar 2024 07:00
1 March 2024
Verditek plc (to be re-named EARNZ plc) ("Verditek" or "the Company")
Completion,
Directorate changes,
Update on Placing and
Appointment of Nominated Adviser and Joint Broker
Further to its announcement on 28 February 2024, Verditek plc (AIM: VDTK) announces completion of the disposal of its solar business, Verditek Solar Italy srl, the resignation with immediate effect of The Rt Hon. Lord David Willetts, Robert Richards and George Katzaros and the appointment of Bob Holt and John Charlton as directors of the Company. Further details pursuant to AIM Rule 17 and Schedule Two (g) of the AIM Rules for Companies are set out below.
The Company is now regarded as an AIM Rule 15 cash shell, having ceased to own, control, or conduct all or substantially all, of its existing trading business, activities, or assets. The Company will therefore, within 6 months, need to make an acquisition or acquisitions which constitute a reverse takeover under AIM Rule 14, failing which trading in the Company's shares on AIM will be suspended. Should the Company's shares remain suspended from trading for 6 months, admission of the Company's shares to trading on AIM will be cancelled under AIM Rule 41.
Update on Placing
Further to its announcement on 28 February 2024, the Company announces that, while the proceeds of the placing have been received, for technical reasons, it is not yet in a position to issue the new shares and therefore admission of 400 million new ordinary shares in the capital of the Company (the "Placing") to trading on AIM ("Admission") will not take place as expected at 8.00 a.m. on 1 March 2024. It is expected that the new shares will be issued and Admission will take place early next week. A further announcement will be made in due course. Taking into account receipt of the net proceeds of the Placing, the Company confirms that it has sufficient working capital for six months from the date of this announcement.
Appointment of Nominated Adviser and Joint Broker
The Company also announces the appointment of Shore Capital and Corporate Limited as its Nominated Adviser and Shore Capital Stockbrokers Limited as its Joint Broker with immediate effect. WH Ireland will continue as Joint Broker to the Company.
For further information, please contact:
Verditek plc | +44 (0) 7778 798 816 |
Bob Holt |
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John Charlton |
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Shore Capital (Nominated Adviser and Joint Broker) | +44 (0) 20 7408 4090 |
Tom Griffiths / Lucy Bowden |
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WH Ireland (Joint Broker) |
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Hugh Morgan / Antonio Bossi / Andrew de Andrade | +44 (0) 20 7220 1666 |
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Appendix - AIM Rule 17
Bob Holt
Save for the information set out below, there are no further disclosures to be made in accordance with Rule 17, Schedule Two (g) of the AIM Rules in respect of the appointment of Robert "Bob" Holt, aged 69. Bob does not hold an interest in the Company's share capital.
Current Directorships/Partnerships
Airfriendly Limited
Business Strategy LLP
Coal Hole Limited
Global Trees
Leadership Today Limited
Nylah's Enterprises Limited
The Logical Utilities Company Limited
Past Directorships/Partnerships (within 5 years)
Arbed Am Byth Limited
Revolution Beauty Group Plc
Revolution Beauty Holdings Limited
Revolution Beauty Labs Limited
Revolution Beauty Limited
Revolution Beauty Nominees Limited
Revolution Beauty UK Holdco Limited
Seneca Partners Limited
Senone LLP
Sureserve Compliance Services Limited
Sureserve Design & Build Limited
Sureserve Energy Services Limited
Sureserve Group Limited
Sureserve Holdings Limited
Sureserve VGS Limited
The Mears Foundation
Totally Plc
In addition, Bob is Trustee and Chair of The Footprints Foundation and The Holt Trust.
John Charlton
Save for the information set out above and below, there are no further disclosures to be made in accordance with Rule 17, Schedule Two (g) of the AIM Rules in respect of the appointment of John Charlton aged 67. John does not hold an interest in the Company's share capital.
John Charlton is not currently a director of any companies.
Past Directorships/Partnerships (within 5 years)
Aaron Heating Services Limited
Aaron Services Limited
Bury Metering Services Limited
Business Strategy LLP
CorEnergy Limited
Everwarm Limited
FJ Jones Heating Engineers Limited
FJ Jones Holdings Limited
H2O Nationwide Limited
Just Energy Solutions Limited
K&T heating services limited
PLS GRP Limited
PLS Holdings Limited
PLS Industries Limited
Precision Lift Services
Providor Limited
Rowan Lodge Consultants Limited
Smart Metering Limited
Speedfit Limited
Sure aintenance Group Limited
Sure Maintenance Limited
Sureserve Compliance Services Limited
Sureserve Design and Build Limited
Sureserve Energy Services Limited
Sureserve Fire and Electrical Limited
Sureserve Holdings Limited
Sureserve Property Investments Limited
Sureserve VGS Limited
Vinshire Gas Services Limited
In addition, John Charlton is Trustee of The Sureserve Foundtion.