Verdes shares dive on 'advanced' investment discussions

Shares in Verdes Management, which offers independent advice and solutions to UK companies, took a hit on Wednesday after it revealed it is in 'advanced discussions' regarding a further investment into the company.

It also said that running costs for the firm have been "cut to the minumum that is required to secure the services of the two directors and a part time financial controller".

Of the investment the group said: "If terms are agreed, the investment will provide further working capital and is likely to be accompanied by a revision of the business model with the turnaround advisory business established by Adam Webb in September 2010 being hived down into a subsidiary company."

The share price fell 17.65% to 0.07p by 13:45.

NR