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Verditek PLC - London-based company producing solar panels - Gives an update on a previously reported supplier role to a new joint venture. In June, Verditek announced its role as "exclusive" supplier to a new joint venture. Verditek said it became the exclusive supplier of lightweight solar panels to a joint venture between its distribution partner Bradclad Group and Norwegian PVC single-ply roof membrane manufacturer Protan AB. The joint venture would use Verditek's panels to launch the Protan Solarbond product, it said.
Verditek on Wednesday says it can no longer be considered the "exclusive supplier" as previously stated, as it has been made aware that Bradclad is working with another manufacturer in respect of the SolarBond product. Adds that it has not received any further orders from the distribution agreement, since the announcement in June, and that there can be no guarantee of any additional orders being received for the other fourteen holiday parks.
Current stock price: 1.05 pence, down 42% on Wednesday
12-month change: down 72%
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