8 July 2021

Vela Technologies plc

("Vela" or "the Company")

Exercise of warrants and issue of equity

The Board of Vela (AIM: VELA) announces that it will shortly make an application to the London Stock Exchange for the admission to trading on AIM ("Admission") of 44,079,000 new ordinary shares of 0.01p in the Company ("New Ordinary Shares").

The New Ordinary Shares are being issued pursuant to the exercise of warrants to subscribe for new Ordinary Shares at a price of 0.06p per Ordinary Share, generating proceeds of £26,447.40 for the Company. 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 14 July 2021.

Total Voting Rights

From Admission the issued share capital of the Company will consist of 13,922,280,834 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 13,922,280,834.

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.

For further information, please contact:

Vela Technologies plc Brent Fitzpatrick, Non-Executive Chairman James Normand, Executive Director	Tel: +44 (0) 7421 728875
Allenby Capital Limited (Nominated Adviser and Joint Broker)	Tel: +44 (0) 20 3328 5656
Nick Athanas / Piers Shimwell
Peterhouse Capital Limited (Joint Broker) Lucy Williams / Duncan Vasey / Eran Zucker	Tel: +44 (0) 20 7469 0930

About Vela Technologies plc

Vela Technologies plc (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 developing technology with a view to disrupting the businesses or sector in which they operate. Vela Technologies will also invest in already-listed companies where valuations offer additional opportunities.