Business
Subscription to raise over £500,000
Subscription to raise over £500,000.
About this update from Earnz Plc
[{"type":"text","content":"\n \n \n RNS Number : 4497F\n Verditek PLC\n 09 March 2020\n \n \n \n \n 9 March 2020\n \n \n Verditek PLC \n \n \n (\"Verditek\" or the \"Company\")\n \n \n Subscription of Ordinary Shares to raise over £500,000\n \n \n \n \n \n Verditek plc, (AIM:VDTK) the clean technology company is pleased to announce that it has raised £505,750 before expenses by way of a subscription of 20,230,000 ordinary shares of 0.04 pence each (\"Ordinary Shares\") at 2.5 pence per Ordinary Share (the \"Issue Price\") (\"the Subscription Shares\") (the \"Subscription\").\n \n \n The Issue Price represents a premium of approximately 14% per cent to the closing mid-market price of Verditek's existing ordinary shares of 2.2 pence on 6th March 2020 (being the last business day prior to this Announcement).\n \n \n The Subscription is not being underwritten and is conditional on admission of the Subscription Shares to trading on AIM. The Subscription is being conducted pursuant to the existing authorities granted to the Directors of the Company at its annual general meeting on 8 November 2019. The Subscription Shares represent approximately 8\n \n per cent. of the Company's issued share capital as enlarged by the Subscription Shares.\n \n \n Application has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM (\"Admission\") and it is expected that such Admission will occur at 8.00 a.m. on 13th March\n 2020\n . The Subscription Shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after the admission of the Subscription Shares, and will otherwise be identical to and rank on Admission pari passu in all respects with the existing Ordinary Shares. The Subscription Shares are not being made available to the public and are not being offered or sold into any jurisdiction where it would be unlawful to do so.\n \n \n Following Admission, the Company will have 249,393,534 Ordinary Shares in issue, none of which will be held in treasury. Accordingly, shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.\n \n \n...