Verditek PLC Crowd for Angels (UK) Limited Loan (3043A)
June 01 2021 - 1:00AM
UK Regulatory
TIDMVDTK
RNS Number : 3043A
Verditek PLC
01 June 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 (MAR), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
1 June 2021
Verditek PLC
("Verditek" or the "Company")
Crowd for Angels (UK) Limited Loan
Verditek plc, (AIM:VDTK), the international green technology
company that develops, manufactures and sells lightweight solar
panels, is pleased to announce that it is issuing a corporate
"green" bond to raise up to GBP500,000.
The bond, yielding 7%, is being issued through crowdfunding
platform Crowd for Angels, which is underwriting the first
GBP225,000. The bond term is two years and interest will be paid
quarterly. Security will be by way of a floating charge on the
assets of the company. Verditek will also issue to Crowd for Angels
10 warrants for each GBP1 invested for a term of 36 months to
subscribe for new ordinary shares at the closing bid price
immediately prior to the date of the Loan Note agreement. The
closing bid price on 28 May 2021 was 3.1p.
In addition, one of Verditek's non-executive directors is
entering into a bond with similar terms for GBP25,000 directly with
the Company. Gavin Mayhew's participation in a bond constitutes a
related party transaction for the purposes of Rule 13 of the AIM
Rules.
The independent directors consider, having consulted with the
Company's nominated adviser, WH Ireland, that the terms of Gavin's
participation in a bond are fair and reasonable insofar as the
Company's shareholders are concerned.
Verditek will use the proceeds of the bond issue principally to
provide additional working capital.
The pitch can be accessed via the following link:
https://crowdforangels.com/company/plc/verditek-plc-1054
Verditek CEO Rob Richards commented: "Verditek has a strong
pipeline of potential projects and we are seeking additional
working capital of up to GBP500,000 of which half has already been
committed"
Crowd for Angels CEO Andrew Adcock said: "The green revolution
is upon us and we are proud to be part of it with the issue of this
bond. More and more investors are now looking to back companies
that are environmentally friendly and Verditek is one of
those."
For further information:
Verditek plc
Rob Richards, CEO Tel: +44 (0)20 7129 1110
Tim Bowen, CFO
WH Ireland Limited - NOMAD and
Broker
Chris Hardie Tel: +44 (0)20 7220 1666
Matthew Chan
Crowd for Angels
Andrew Adcock, Chief Executive Tel: +44 (0)20 7437 2413
About Verditek plc:
AIM listed Verditek plc is a holding company with three
businesses operating within the green technology sector. The
Company is focused on commercializing our lightweight low-profile
solar panel business. With manufacturing based in Lainate 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. We are working together to
engineer the technology for commercialization.
Verditek provides compelling commercial solutions that help to
make our customer's businesses sustainable.
For more information please visit: https://verditek.com/
About Crowd for Angels
Crowd for Angels is one of the UK's leading crowdfunding
platforms for shares, crowd bonds and digitalised assets. Our goal
is to bring innovative and appealing products to investors and to
provide funding for companies throughout their growth cycle. We
help companies raise funds through the issue of shares and bonds on
our regulated crowdfunding platform.
Our investors get the opportunity to invest in shares in a tax
efficient manner through the use of SEIS/EIS tax relief and through
Bonds that can be held in a tax free IF-ISA wrapper. We never
charge our investors any fees and companies looking for investment
only pay if the funding is a success.
For further information please visit:
https://crowdforangels.com
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