Business
Management change and Exercise of Warrants
Management change and Exercise of Warrants.
About this update from Earnz Plc
[{"type":"text","content":"\n \n \n RNS Number : 1891V\n Verditek PLC\n 05 August 2020\n \n \n \n \n Verditek PLC \n \n \n \n \n \n (\"Verditek\" or the \"Company\")\n \n \n \n \n \n Management change and Exercise of Warrants\n \n \n \n \n \n Management Change\n \n \n \n \n \n Verditek plc, (AIM:VDTK) the clean technology company announces,following the recent major restructuring of the Company, including the appointment of Rob Richards as new CEO, that The Board of directors have accepted the resignation of Tim Lord as Finance Director. Moving from R&D stage to full commercialisation has resulted in the requirements of the Company changing. The Company now has over 15 international sales people in order to meet demands of its international commercialisation and sharply growing order book. To facilitate the smooth transition to a new appointee, George Katzaros (Non-Executive Director) has agreed to act as interim Finance Director. Further announcements will be made upon the appointment of the new permanent position in due course. All necessary provisions have been made to ensure the proper finance functions are in place.\n \n \n \n \n \n Rob Richards, CEO said, \"I wish to thank Tim for his contribution. As the Company moves forward in its exciting new phase, with strong revenue growth in multiple new segments now coming through, it is important to build a team best suited to maximise on this opportunity\". \n \n \n \n \n \n Commenting on the move, Lord David Willetts, Non-Executive Chairman said. \"We thank Tim for the role he played in the Company's early development. He leaves the Company as the next stage of its development is now firmly in train, with the operations ramping up and sales volumes and revenues taking off. We wish him well in his new endeavours\".\n \n \n \n \n \n Exercise of Warrants\n \n \n \n \n \n Shore Capital have notified the Company of their intention to exercise their warrant over 3,753,456 Ordinary Shares in the Company which was granted at the time of the IPO. This exercise will result in the receipt of some £330,000 of additional cash by Verditek. Application has been made for the new Ordinary Shares to be admitted to\n \n AIM and trading in these new shares is expected to commence on 10 August 2020. \n Following Admission, the Company will have 295,646,990...