Verditek PLC Changes at BBR Filtration (0966Y)

TIDMVDTK

RNS Number : 0966Y

Verditek PLC

03 May 2019

Verditek PLC

("Verditek" or the "Company")

Verditek announces changes at BBR Filtration

Verditek plc, (AIM:VDTK) the clean technology company, has a majority interest in the biofiltration company BBR Filtration and over the course of the last year been developing sales opportunities in several regions globally. In conjunction, BBR Filtration has been exploring partnering opportunities to deliver a more focused pursuit of commercialisation.

In order to provide better focus of Verditek on its solar business in Italy, the Verditek board has issued a termination notice of their Shareholder Agreement to the minority BBR Filtration shareholders. Henceforth BBR Filtration will develop alternative commercial relationships in conjunction with a new company. The board believes this is in the best interest of all parties and will ultimately provide better commercial delivery.

Dr Geoff Nesbitt, CEO of Verditek, commented: "Steve Bennington and staff at BBR Filtration have done a great job of developing the commercial funnel over the last 9 months. Working with other firms established in the water industry, and with boots on the ground in the relevant territories, will ensure greater focus in the pursuit of new business in this activity I would like to thank everyone for their efforts as we enter this new phase for BBR Filtration."

Verditek plc

AIM listed Verditek plc is a holding company with three businesses operating within the clean technology sector. The Company has a unique liquid gas absorption technology expected to revolutionize the global CO(2) capture industry; two solar manufacturing production lines in Lainate Italy (total 20MWp) producing what is believed to be an innovative and un-paralleled solar PV building material; and a pioneering filtration deodorization technology, which is commercially proven and tackles a wide range of odours within air and water at a high efficiency.

For more information please visit or contact the following: https://www.verditek.plc.uk/

 
 Verditek plc                                      Tel: [phone] 
  Geoffrey Nesbitt, CEO 
  RH Lord David Willets, Non-Executive Chairman 
                                                   Tel: [phone] 
   WH Ireland Limited - NOMAD and Broker 
 Chris Hardie, Director Corporate Finance 
  Matthew Chan, Executive Corporate Finance 
 
 Strand Hanson Limited - Financial Adviser         Tel: [phone] 
  James Harris 
  Ritchie Balmer 
  Jack Botros 
 

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May 03, 2019 12:09 ET (16:09 GMT)