VDTK Verditek Plc

TIDMVDTK

RNS Number : 3566Y

Verditek PLC

21 August 2018

Verditek PLC

("Verditek" or the "Company")

GBP2.0m to be raised through a private placement of a Convertible Loan Note

Core solar business to go live shortly in new factory in Italy

Company now well positioned to fully exploit the opportunities in its graphene joint development programme with Paragraf

London, 21 August 2018: Verditek plc (AIM: VDTK), the clean technology company, is pleased to announce the placement of a 10% unsecured convertible loan notes (the "Convertible Loan Notes") which will raise approximately GBP2 million pre-expenses. The Convertible Loan Notes mature on 25(th) July 2020 and have a conversion price of GBP 0.10 per Verditek ordinary share ("Ordinary Share"). Participants in the placing include a leading UK institutional investor and a European based family office.

Use of funds

This funding, due on the 29(th) August will provide for the ramp up of the new factory in Lainate, Italy and its working capital requirement, as the Company goes into production with its new light weight solar technology. Importantly, it also gives the Company the additional financial flexibility to pursue the promising opportunity presented in the graphene joint venture with the Cambridge based technology group, Paragraf.

Commenting on the announcement, Geoff Nesbitt, CEO of Verditek, said:

"Following changes to leadership of the Company, including the recent appointment of Lord Willetts - former UK Minister of Science and Universities for the UK Government - as board chairman, we have revised our strategy to optimise the launch of our new light weight solar panel technology. We are delighted to have completed this funding, in support of the start-up of solar production, allowing us additional financial support to exploit the major opportunities we are pursuing. These include the very promising work being conducted with our joint venture partner Paragraf towards developing the world's first graphene solar cell."

Terms of the Convertible Loan Note

The Convertible Loan Notes have been issued by the Company in integral multiples of GBP10,000 with a conversion price of GBP0.10 per Ordinary Share. It is expected that an application will be made to The Channel Islands Securities Exchange Authority Limited for the Convertible Loan Notes to be admitted to trading on The International Stock Exchange ("TISE"). The Convertible Loan Notes and are freely transferable.

General update on Verditek plc

In BBR, the commercial opportunities articulated in the original admission document have been replaced with opportunities that provide better pursuit of early cashflow.

WES continues to develop opportunities with ICSI in Canada.

Enquiries:

Verditek plc

Geo rey Nesbitt (CEO) +44 (0) 20 7129 1110

enquiries@verditek.com

Stockdale Securities Limited (NOMAD and Broker)

Antonio Bossi / David Coaten + 44 (0) 20 7601 6100

www.stockdalesecurities.com

Strand Hanson Limited (Financial Adviser)

James Harris / Ritchie Balmer / Jack Botros +44 (0) 20 7409 3494

www.strandhanson.co.uk

Whiteoaks Consultancy

Mary Fitzgerald +44 (0) 7795 284440

Bekki Bushnell + 44 (0) 7841 698586

verditek@whiteoaks.co.uk

About Verditek

Verditek plc (AIM: VDTK), the clean technology company is headquartered in London. Verditek is dedicated to commercialising proven technologies that can deliver significant competitive advantage compared to conventional industrial solutions. From light-weight solar modules, cutting edge de-odourisation, and ground-breaking CO(2) capture, Verditek is realising tomorrow's technologies today.

For further information, please visit www.verditek.com

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