Verditek PLC Result of Placing (9623N)
27 Settembre 2019 - 11:45AM
UK Regulatory
TIDMVDTK
RNS Number : 9623N
Verditek PLC
27 September 2019
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RESTRICTED AND ARE NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION,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 GBP600,000 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 GBP20,000 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 GBP6,275. 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:
Verditek plc Tel: +44 (0)20 7129
RH Lord David Willetts FRS (Non-Executive 1110
Chairman) enquiries@verditek.plc.uk
Dr Geoff Nesbitt (Chief Executive Officer)
Tim Lord (Chief Financial Officer)
WH Ireland Limited (NOMAD and Broker) Tel: +44 (0)20 7220
1666
Chris Hardie (Corporate Finance)
Matthew Chan
Jasper Berry (Corporate Broking)
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ROILRMLTMBITMML
(END) Dow Jones Newswires
September 27, 2019 05:45 ET (09:45 GMT)
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