Result of Placing

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

Verditek plc

Result of Placing

Verditek plc ("Verditek" or the "Company"), the internationally focussed clean technology company that primarily develops, produces and sells certified lightweight solar panels, with a current production capacity of 20 MW per annum, is pleased to announce that it has raised gross proceeds of £600,000 as a result of the Placing announced yesterday. Terms and expressions in this announcement will have the same meaning as in that announcement.

A total of 13,333,332 Placing Shares in the Company have been placed by WH Ireland with institutional and other investors at a price of 4.5 pence per Placing Share ("Issue Price"). A further 444,444 ordinary shares raising gross proceeds of £20,000 are expected to be issued, pursuant to a direct subscription, these subscription shares will be subject to a further application for admission to trading in due course.

In addition to the participation of Gavin Mayhew, a non-executive director, which has already been announced, Tim Lord, Chief Financial Officer, has now also subscribed for 139,444 new Ordinary Shares at the Placing Price in the Placing being an amount of £6,275. Under the AIM Rules, the Directors' participation in the Placing constitutes a related party transaction. Lord Willetts, who is not participating in the Placing, and so constitutes an independent Director for the purposes of the Placing considers, having consulted with WH Ireland, that the terms of the related party transaction are fair and reasonable insofar as the Shareholders are concerned.

The Issue Price represents a 26.8% premium to the closing price of Ordinary Shares on 25 September 2019 (being the last business day prior to the announcement of the Placing).

Application has been made for 13,333,332 Placing Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on 1 October 2019. Following Admission of the Placing Shares, Verditek will have 215,450,597 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:

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.