Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.

5 November 2020

Vela Technologies plc

("Vela" or the "Company")

Exercise of warrants and issue of equity

The Board of Vela (AIM: VELA) announces that it has made an application to the London Stock Exchange for the admission to trading on AIM ("Admission") of 336,666,668 new ordinary shares of 0.01p in the Company ("New Ordinary Shares").

The New Ordinary Shares are being issued pursuant to exercises of warrants to subscribe for new Ordinary Shares at a price of 0.06p per Ordinary Share, generating proceeds of £202,000 for the Company. The proceeds from the warrant exercises will provide additional funding for Vela to identify, evaluate and make investments in accordance with its investing policy.

The warrants were issued as part of the placing of new Ordinary Shares completed in conjunction with, inter alia, the disposal of certain of Vela's assets and share capital reorganisations in August 2020.

The New Ordinary Shares will rank pari passu in all respects with the Company's existing ordinary shares and Admission is expected to become effective on 11 November 2020.

Total Voting Rights

From Admission the issued share capital of the Company will consist of 12,074,071,417 Ordinary Shares, with one voting right per share. As the Company does not hold any Ordinary Shares in treasury, the total number of Ordinary Shares and voting rights in the Company will be 12,074,071,417.

From Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

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About Vela Technologies plc

Vela Technologies (AIM: VELA) is an investing company focused on early stage and pre-IPO long term disruptive technology investments. Vela's investee companies have either developed ways of utilising technology or are in the process of developing technology with a view to disrupting the businesses or sector in which they operate. More recently, Vela Technologies has broadened its focus to include existing listed companies where valuations may offer additional opportunities.