Update on the Proposed Disposal

The following amendment has been made to the '(Update on the Proposed Disposal)' announcement released on 23 February 2024 at 7am under RNS No 1703E.

The date of the General Meeting has been amended to 28 February 2024.

All other details remain unchanged.

The full amended text is shown below.

Verditek plc

("Verditek" or the "Company")

Update on the Proposed Disposal

The Company is pleased to announce that negotiations with the Bondholders (as announced on 7 of February 2024) in relation to the proposed disposal (the "Proposed Disposal") of certain Company's assets (as detailed in the 7 February 2024 announcement) are progressing positively.

The Directors have now implemented additional measures to reduce the Company's cash burn. This, in addition to some recent cash receipts at its Verditek Solar Italy srl subsidiary, mean that the Company has extended its current cash runway from the date indicated in the announcement of 7 February 2024 by approximately one week until the end of the week beginning 4 March 2024. Whilst the directors remain confident that negotiations with the Bondholders will conclude successfully, there is no certainty that the Company's Shareholders will approve the Proposed Disposal at the General Meeting, which has been convened for 28 February 2024, and therefore that the Proposed Disposal will complete and additional sources of finance will be made available to the Company.

Consequently, should the Proposed Transaction not complete, it remains the case that the directors will likely consider alternative routes including, potentially, a liquidation of the Company. It should be noted that should the Company, as a result, enter some form of administration, it is likely that its Nominated Adviser will resign from its role and, as a result, the Company's shares (the "Shares") will be suspended from trading on AIM. If within one month of suspension the Company fails to appoint a replacement nominated adviser, the admission of its Shares to AIM ("Admission") will be cancelled.

Upon completion of the Proposed Disposal, the Company will be regarded as an AIM Rule 15 cash shell, having ceased to own, control or conduct all or substantially all, of its existing trading business, activities or assets. The Company will therefore need to, within six months, make an acquisition or acquisitions which constitute a reverse takeover under AIM Rule 14, failing which trading of its Shares on AIM will be suspended. Should the Shares remain suspended from trading for six months, Admission of the Shares to AIM will be cancelled under AIM Rule 41.

About Verditek plc