Crowd for Angels (UK) Limited Bond

RNS Number : 0594I

Verditek PLC

10 August 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.

10 August 2021

Verditek PLC

("Verditek" or the "Company")

Crowd for Angels (UK) Limited Bond

Verditek plc, (AIM:VDTK), the international green technology company that develops, manufactures and sells lightweight solar panels, would like to update the market following the closing of its corporate "green" bond.

Verditek confirms that a total of £353,253 has been raised through crowdfunding platform Crowd for Angels including the £250,000 raised as previously announced on 1 June 2021. The offer for the bond closed on 31 July 2021 and a statutory "cooling off" period ended at 5pm on 9 August 2021.

The bond, yielding 7%, is for a term of two years and interest will be paid quarterly. Security is by way of a floating charge on the assets of the company. Verditek will also issue to Crowd for Angels 10 warrants for each £1 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 agreements. The closing bid price on 28 May 2021 was 3.1p for the initial £250,000 and was 2.75p on 30 July 2021 for the balance.

For further information:

Verditek plc   

Rob Richards, CEO  Tel: [phone]

Tim Bowen, CFO

WH Ireland Limited - NOMAD and Broker

Chris Hardie  Tel: [phone]

Ben Good

Crowd for Angels

Andrew Adcock, Chief Executive   Tel:  [phone]

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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