Conversion Notice : Westminster Convertible Loan

Embargoed 700 am

13 January 2014

Verdes Management PLC

Conversion Notice : Westminster Convertible Loan



Verdes Management PLC

Conversion Notice : Westminster Convertible Loan

("Verdes" or the "Company")

The Company confirms that it has received a conversion notice on 12 January 2014 from Westminster Asset Management Limited ("Westminster"), in relation to the convertible loan agreement ("the Westminster Convertible Loan" or "Loan") entered into between Westminster and the Company on 4 March 2013.

This notice of conversion, which is conditional upon the passing of the resolutions numbered 1, 2, 4, 5 and 6 at the general meeting scheduled for 15 January 2014, will take effect on Monday 20 January 2014, at which time the Loan will be converted into 227,272,727 new ordinary shares in the capital of the Company at 0.055p per share (representing 25.4% of the enlarged share capital).

For further information please contact:

Verdes Management PLC

Daan van den Noort - Chairman 00 31 6 10 89 65 81

Jan Geertman - Consultant to the Board 07825 501627

SPARK Advisory Partners Limited (Nominated Adviser)

Neil Baldwin 0113 370 8974

ENDS