Subscription of Ordinary Shares to raise £500,000

1 September 2023

Verditek plc

("Verditek" or the "Company")

Subscription of Ordinary Shares to raise £500,000

Verditek plc (AIM:VDTK), the international green technology company that develops, manufactures and sells lightweight solar panels, is pleased to announce that it has raised £500,000 before expenses by way of a subscription of 111,111,111 ordinary shares ("Ordinary Shares") at 0.45 pence per Ordinary Share (the "Issue Price") (the "Subscription Shares") (the "Subscription"). The funds are expected to be received on or before 6 September 2023.

The proceeds of the raise will be used for general working capital.

The Issue Price represents a discount of 40.0 per cent to the closing mid-market price of 0.75 pence of Verditek's existing Ordinary Shares on 31 August 2023 (being the last business day prior to this Announcement).

The Subscription is not being underwritten and is conditional on admission of the Subscription Shares to trading on AIM. The Subscription is being conducted pursuant to the existing authorities granted to the Directors of the Company at its annual general meeting on 25 July 2023. The Subscription Shares represent approximately 20.0 per cent. of the Company's issued share capital as enlarged by the Subscription Shares.

Application has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will occur at or around 8.00 a.m. on 06 September 2023. The Subscription 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 Subscription Shares, and will otherwise be identical to and rank on Admission pari passu in all respects with the existing Ordinary Shares. The Subscription Shares are not being made available to the public and are not being offered or sold into any jurisdiction where it would be unlawful to do so.

Following Admission, the Company will have 554,649,417 Ordinary Shares in issue, none of which will be held in treasury. Accordingly, shareholders may use this figure 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 Company under the FCA's Disclosure Guidance and Transparency Rules.

Rob Richards, CEO of Verditek, commented "In these market conditions where it is tough to raise money, it is a clear sign of confidence in the Company's future that a strategic investor chose to invest £500,000 and share our vision on where we think this Company will be in the future. The Directors believe that this raise will provide funding for the medium term."

For further information, please contact:

Verditek plc

Rob Richards (Chief Executive Officer) +44 (0) 20 7129 1110

John McCall (Interim Chief Financial Officer)

WH Ireland Limited (NOMAD and Broker)

Chris Hardie +44(0) 20 7220 1666

Hugh Morgan

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.

About Verditek plc

AIM listed Verditek plc is a holding company of a business operating within the green technology sector. The Company is focused on commercialising our lightweight low-profile solar panel business. With manufacturing based in Italy, we have developed renewable power solutions for our customers, that drive solar energy into applications previously unachievable. 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.

For more information please visit or contact the following:  https://verditek.com/