Verditek Plc (GB:EARN) has released an update.
EARNZ Plc, an AIM-listed cash shell company, has conditionally agreed to acquire energy service providers Cosgrove & Drew Ltd and South West Heating Services Ltd, with plans to raise £4.0 million through a conditional placing of shares. The acquisition is a reverse takeover and is contingent on shareholder approval at a general meeting scheduled for 27 August 2024. Funds from the new share issue will be allocated to cover acquisition costs and provide working capital for the expanded group.
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