10 Sep 2020 07:00
Verditek plc
Issue of Equity on Conversion of Convertible Loan Note and Settlement of Adviser Fees
Verditek plc ("Verditek" or "Company"), the international clean technology company that develops, manufactures and sells certified lightweight solar panels, announces that it has received a notice of conversion of£100,000 of convertible loan notes ("CLN's") at 10 pence per share. This, together with accrued interest, means 1,184,544 new ordinary shares are due to be issued. There remains a balance of issued CLN's of £70,000. In addition, the company has allotted 590,909 new ordinary shares in settlement of PR adviser fees.
Application has been made to the London Stock Exchange for the new ordinary shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will occur at 8.00 a.m. on 15 September 2020. The new ordinary shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after the admission of the new ordinary shares, and will otherwise be identical to and rank pari passu in all respects with the existing ordinary shares.
Following Admission of the 1,775,453 new ordinary shares, Verditek will have 297,422,443 ordinary shares in issue and admitted to trading on AIM. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.
Enquiries:
Verditek plc RH Lord David Willetts FRS (Non-Executive Chairman) Rob Richards (Chief Executive Officer)
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| Tel: +44 (0)20 7129 1110enquiries@verditek.plc.uk |
WH Ireland Limited (NOMAD and Broker) |
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Tel: +44 (0)20 7220 1666 |
Chris Hardie (Corporate Finance) Matthew Chan |
About Verditek plc
AIM listed Verditek plc is a holding company with three businesses operating within the clean technology sector. The Company is focused on commercializing our lightweight low-profile solar panel business. With manufacturing based in Lainate Italy, we have developed renewable power solutions for our customers that drive solar energy into applications previously impossible. The exceptional properties of our solar panels replace diesel fuel in business such as perishable goods transport, off-grid telecommunication towers, electric vehicle charging stations, residential and holiday home power solutions and solar roofing for light-weight industrial roofing. In addition to our current PV panels in production, we have partnered with an outstanding leader in graphene technology, Paragraf, and have created the worlds' first Graphene Integrated Photo Voltaic cell. We are working together to engineer the technology for commercialization.
Verditek provides compelling commercial solutions that make our customers business sustainable.
For more information please visit or contact the following: https://verditek.com/
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.