PR Newswire
London, January 24
Vela Technologies plc
("Vela Technologies" or the "Company")
Lifting of Suspension, Placing and Appointment of Director
Lifting of Suspension, Resumption of Trading
Further to the announcement on 13 August 2012 when trading in the Company's shares was suspended, the directors of Vela Technologies are pleased to announce that trading on AIM for the above-mentioned securities will resume from 8.00 am on 25 January 2013. Shares of Vela Technologies will now be identified under the following codes.
ISIN - GB00B7D7F340
SEDOL - B7D7F34
TICKER - VELA
The Placing
On 24th December 2012, the Company announced that "Peterhouse Corporate Finance Limited has placed 67,400,000 new Ordinary Shares (the "Placing Shares") at a price of 0.5 pence (the "Placing Price") raising £337,000 before expenses (the "Placing").
Adrian Moss and Spratt Ebako, employees of the Company, agreed to subscribe to 7,400,000 Placing Shares amounting to £37,000 at the Placing Price. Settlement of these 7,400,000 Placing Shares will be delayed until completion of the CVA."
Application has been made to the London Stock Exchange for the 60,000,000 Placing shares to be admitted to trading on AIM. It is expected that the admission will become effective and that trading in the new Shares will commence on 25th January 2013 ("Admission"). The Company will make an additional announcement regarding the issue of the remaining 7,400,000 shares in due course.
Appointment to the Board
Vela Technologies is pleased to announce the appointment of Antony Jon Laiker as Director of the Company with immediate effect.
Antony, aged 51, is a stockbroker at First Equity Limited and has been active as an advisor and early-stage investor in numerous companies undergoing reorganisation.
Antony is currently a director of Widdington Limited and Squosh Limited.
No further information is required for disclosure in respect of Rule 17 or Schedule 2 paragraph (g) of the AIM Rules for Companies.
--ENDS--
FOR FURTHER INFORMATION, PLEASE CONTACT
Vela Technologies plc
Brent Fitzpatrick Email: brent@lowwave.co.uk
Non-Executive Director
ZAI Corporate Finance Limited
John Depasquale /John Treacy Tel: 020 7060 2220
Peterhouse Corporate Finance Limited
Eran Zucker Tel: 020 7469 0932
