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Verditek plans GBP3.5 million float in May

Staff Writer | April 19, 2017
Clean technology firm Verditek said it intends to seek admission to London's AIM market with a GBP3.5 million share placing.
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The company intends to place new shares at 10 pence each, raising funds for investments in its existing holdings. Verditek has interests in three clean technology businesses, which are held subject to admission to trading.

It has a 51% interest in both waste water filtering company BBR Filtration and solar photovoltaic firm Greenflex Energy.

Verditek also has a 38% interest in emissions absorption technology firm Westec Environmental Solutions LLC, with an option to increase its holding to 51%.

Verditek said that on admission its chief executive will be Theo Chapman, with Janet Donovan as chief financial officer.

As chairman, the company will have Geoff Nesbitt, currently chief technology officer of FTSE 250-listed oil services provider Petrofac Ltd.

The company also will appoint Jose Luis del Valle, former chief financial officer of Banco Santander, as non-executive chairman.

"We are delighted to announce our intention to list on AIM, an attractive marketplace for us at this transformational juncture in Verditek's development, as we look to progress our three clean tech businesses with exciting, disruptive technologies and proven products in solar, carbon capture and filtration," said CEO Chapman.