PR Newswire
London, September 5
Vela Technology Plc ("Vela" or "the Company")
Further re Placing
5 September 2013
Further to the announcement made on 24 January 2013, the Company is pleased to
announce receipt of £25,000 in respect of a subscription for 5,000,000 new
Ordinary Shares of 0.1p each at 0.5 pence per share by Adrian Moss, former
chief executive of the Company and a director until March of this year. The
Directors, having consulted with the Company's nominated adviser, consider the
terms of the subscription to be fair and reasonable insofar as shareholders are
concerned. Following the subscription, Mr Moss is interested in 5,995,100
Ordinary Shares, representing approximately 4.25 per cent. of the Company's
issued ordinary share capital. The proceeds of the subscription will augment
the funds available to the Company to evaluate and apply funding to new
investments. The £12,000 subscription for 2,400,000 shares by former employee
Spratt Ebako referred to in the 24 January announcement has not been and is
unlikely to be completed.
Application will be made for the new Ordinary Shares, which rank pari passu
with the Company's existing issued ordinary shares, to be admitted to trading
on AIM. It is expected that Admission will become effective on 11 September
2013. Following the issue, the Company has 141,012,641 ordinary shares of 0.1p
each in issue, each carrying the right to one vote. The Company does not hold
any ordinary shares in Treasury. The above figure of 141,012,641 ordinary
shares 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 Financial Conduct Authority's Disclosure and Transparency Rules.
For further Information:
Brent Fitzpatrick e-mail brent@lowwave.co.uk
Non-Executive Chairman
Vela Technologies plc
ZAI Corporate Finance Tel 0207 060 0220
Nomad
Peter Trevelyan-Clark/
Tim Cofman/Wei Wang
Peterhouse Corporate Finance Tel 020 7469 0932
Broker
Eran Zucker
