Verditek PLC Result of Placing (4813D)

TIDMVDTK

RNS Number : 4813D

Verditek PLC

28 October 2020

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY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 international clean technology company that develops, manufactures and sells certified lightweight solar panels, is pleased to announce that it has raised gross proceeds of GBP 3,500,000 as a result of the placing announced earlier today (the "Placing"). Terms and expressions in this announcement will have the same meaning as in that announcement.

A total of 43,750,000 Placing Shares in the Company have been placed by WH Ireland with institutional and other investors at a price of 8 pence per Placing Share ("Issue Price").

The Issue Price represents a 8.57 per cent. discount to the closing price of Ordinary Shares on 27 October 2020 (being the last business day prior to the announcement of the Placing).

Application has been made for 43,750,000 Placing Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on 4 November 2020. Following Admission of the Placing Shares, Verditek will have 341,172,443 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                                         Tel: [phone] 
  Robert Richards (Chief Executive Officer)                          1110 
  Tim Bowen (Chief Financial Officer)           [e-mail] 
  WH Ireland Limited (NOMAD and Broker)               Tel: [phone] 
                                                                     1666 
 Chris Hardie (Corporate Finance) 
  Matthew Chan 
  Jasper Berry (Corporate Broking) 
 

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October 28, 2020 06:16 ET (10:16 GMT)