Directorate Change

26 March 2014

Verdes Management plc("Verdes" or the "Company")

Board Changes

Verdes announces (AIM: VMP) the following board changes.

Gill Leates is joining the Board with immediate effect as non-executive Chairman. Gill will work with the Company to implement and execute the Company's new investing strategy which was approved by shareholders last week. Gill brings with her a wealth of public market experience having served as Investment Director on the main Board of Majedie Investments PLC from 1999 to 2008, and as a non-executive director of Majedie Asset Management Limited during that period, where she played a key role in setting up the UK pension fund management business in 2002. Since 2009 Gill has been a non-executive director of AIM quoted Hydrodec PLC, and is currently chairman of its Audit Committee, and member of its Remuneration and Nomination Committees. Gill also acts as a business consultant, through Freeton Limited, and includes Helium Funds ("Helium") as a client. Helium is classed as a substantial shareholder in the Company under the AIM Rules for Companies.

Gill has today been issued warrants to subscribe for 2 million new ordinary shares in the Company at an exercise price of 2 pence per share, 1 million of which are exercisable after 12 months, and 1 million after 24 months. The warrants have an exercise period ending on 25 March 2024, and lapse in the event that Gill ceases to be Chairman of the Company.

Daan van den Noort and Joep van den Aker have left the Board with immediate effect.

The Company is seeking to appoint a further non-executive director in due course.

Sarah Bertolotti, Verdes' Financial Director commented : "The Company is pleased to welcome Gill onto the Board as Chairman, and to oversee its new strategic direction. The Board wishes to express its gratitude to Daan and Joep for their contribution to Verdes over what has proven to be a difficult period."

The following information is given in accordance with paragraph (g) schedule Two, the AIM Rules for Companies:

Full name and age:

Gillian Margaret Leates, 56

Current Directorships/Partnerships: 

Hydrodec Group PLC

Freeton Limited

Previous directorships over the last five years: 

Rosemary Gardens, Mortlake (Management) Limited

Rosemary Gardens, Mortlake (Freehold) Limited

There is no other information requiring to be included in accordance with paragraph (g), schedule Two, the AIM Rules for Companies.

For further information please contact:

Verdes Management PLC

Gill Leates - Chairman 0208 133 2782

Sarah Bertolotti - Director

SPARK Advisory Partners Limited

Nominated Adviser

Neil Baldwin 0113 370 8974

SI Capital Limited

Broker

Andy Thacker 01483 413510

Nick Emerson