Update

Deepverge PLC

12 July 2023

 

DeepVerge plc

("DeepVerge" or "the Company" or "the Group")

Update

The Company announced on 26 June 2023 that the Board had taken the decision to no longer support the ongoing costs of the operating businesses, and was seeking to realise whatever value is possible through the sale of one or more of the Labskin, Modern Water and Glanaco business units. The Board's expectation remains that this process will result in the sale, closure or administration of all Group subsidiaries.

To avoid incurring additional costs, the Board has today decided to issue redundancy notices to all remaining staff to take effect on 31 July 2023.

Further updates will be given as appropriate.

DeepVerge plc	Nigel Burton, Interim CEO	[phone]
SPARK Advisory Partners Limited (Nominated Adviser)	Neil Baldwin	[phone]
Turner Pope Investments (TPI) Limited (Broker)	Andy Thacker/James Pope	[phone]

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a Regulatory Information Service, this information is considered to be in the public domain.

 

END