Additional Funds Raised

RNS Number : 2807E

Viridas PLC

05 April 2011

 



Viridas plc (AIM: VIR)

Additional Funds Raised

Further to the announcement made on 31 March 2011, Viridas Plc is pleased to announce that a further £300,000 was raised through a placing (the "Placing") of zero-coupon, unsecured convertible loan notes by Rivington Street Corporate Finance bringing the total funds raised for the Company to £1,050,000. Of the total sum, £250,000 worth of convertible loan notes were subscribed by Ronald Bruce Rowan.

In order to increase the Company's share capital and authorise the Directors to allot the shares pursuant to conversion of the convertible loan notes, and to approve the new investing policy, the Company intends to shortly convene a General Meeting, at which appropriate resolutions will be put to shareholders for approval.

Commenting on the Placing, Stanley Wootliff, Executive Chairman of Viridas, said:

"I am delighted that Mr. Rowan has decided to invest such a significant amount in Viridas Plc, his track record as an entrepreneur speaks for itself. Clearly the Company is now well placed to re-launch as a focused natural resources investment vehicle. I believe that following the General Meeting, the Company will be in a position to enhance real shareholder value in the near-term".

--ENDS--

For more information please contact:

Viridas plc:
Stanley Wootliff, Executive Chairman	[phone]
Nominated Adviser:
Arbuthnot Securities
Antonio Bossi/Paul Gillam	[phone]
Broker to the Placing:
Rivington Street Corporate Finance
Dru Edmonstone	[phone]

 

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