Regulatory Story
Go to market news section View chart   Print
RNS
Verdes Management PLC  -  VMP   

Newick Convertible Loan Agreement - Update

Released 07:00 24-Dec-2013

RNS Number : 2885W
Verdes Management PLC
24 December 2013
 



24 December 2013

Embargoed for 700 a.m.

Verdes Management PLC

Newick Convertible Loan Agreement - Update

 

 

24 December 2013



 

Verdes Management PLC

                                                                                                                            

 Newick Convertible Loan Agreement - update

 

("Verdes" or the "Company")

 

On 16 December 2013 the Company announced an amendment to the £500,000 convertible loan agreement ("Amended Agreement") with Newick Developments Limited ("Newick") in which the Company has a facility to draw £500,000 in Convertible Loan Notes from Newick (the "Loan").

 

The Amended Agreement contains a term that the first tranche of the Loan of £125,000 was to have been received by the Company on Friday 20 December 2013. As at this point the funds, whilst requested by the Company, have not been received.

 

The Company has been advised by  Newick that the funds have been transmitted by its bank and are currently in the banking system, pending receipt by Verdes' bank..

 

The Company will make a further announcement once these funds have been received.

 

For further information, please contact:

 

Verdes Management PLC

 

Sarah Bertolotti - Finance Director                                                                         07932 569404

 

SPARK Advisory Partners Limited

 

Neil Baldwin                                                                                                         0113 370 8974

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCEANADAAEDFFF
Close


London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.

 


Newick Convertible Loan Agreement - Update - RNS