Verditek Solar Limited agreed to acquire Verditek Solar Italy Srl from Verditek PLC (AIM:VDTK) for £0.58 million on February 7, 2024. The consideration consists of £0.53 million in promissory note and £0.05 million in cash. Verditek Solar Limited was formed by Verditek PLC's bondholders.

The Bondholders have also agreed to provide a loan facility of up to £0.09 million to fund the operating expenses of the solar business with effect from February 6, 2024. The proposed transaction is conditional on further due diligence, agreeing definitive sale and purchase documentation, and Shareholder consent. The transaction is expected to close on February 29, 2024.WH Ireland Limited acted as financial advisor to Verditek PLC