PR Newswire
London, May 12
12 May 2014
Vela Technologies PLC
("Vela" or the "Company")
Further Investment and Update - Portr Limited ("Portr")
Vela Technologies, the investing company focussing on early stage and pre-IPO
technology investments, is pleased to announce a further investment of £50,000
by way of a cash subscription for 17,235 new ordinary shares of 0.01p each in
investee company, Portr. The additional investment by Vela is part of a £
500,000 funding round by Portr at a price of some 290p per share and brings
Vela's total investment in Portr to £100,000, with an enlarged shareholding of
49,731 shares representing approximately 2.9 per cent of Portr's enlarged
issued share capital.
The additional investment by Vela follows the launch by Portr of its service at
London City Airport ("LCA") on 1 May 2014 with full operations expected to
commence on 22 May 2014. The service is designed to enable visitors to London
to book luggage transfers between their destination airport, hotel, serviced
apartment or office. Portr employs leading-edge technology across its web
booking platform and logistics engine, integrated with leading same-day and
specialist logistics provider CitySprint UK who will be managing and delivering
the white-glove AirPortr® operation.
Vela Technologies believes the AirPortr® service will be well suited to the
business traveller flying in and out of LCA, where the need for speed,
convenience and productivity is heightened. Portr continues to works towards
launch of its service at one or more additional London airports later this
year. During the 18 month pre trading period from incorporation to 26 December
2013, Portr made unaudited losses of £266,000 and as at that date had net
liabilities of approximately £1,000.
For further information:
Vela Technologies plc
Brent Fitzpatrick, Non-Executive Chairman
Antony Laiker, Director 07802 262443
ZAI Corporate Finance, Nomad 020 7060 2220
Peter Trevelyan-Clark/Tim Cofman/Wei Wang
Hume Capital Securities plc, Broker 020 3693 1470
Jon Belliss
Newgate Threadneedle 020 7653 9850
Graham Herring/Heather Armstrong
About Portr:
Portr Limited a traveltech company incorporated in London in 2012, has
developed Europe's first concierge-focused luggage transfer service, AirPortr®,
which will initially be operating between London's airports, hotels, serviced
apartments and offices. Established predominantly to serve the significant
number of foreign business and leisure passengers who travel to London every
year and meet the needs of the modern traveller. Portr, which is an Official
Partner of the Mayor's promotional organisation London & Partners, will be
marketing the service internationally enabling passengers to book at airports,
online, via smartphones or through one of the Company's partner airlines and
hotels. Further information about the Company and its services can be found at
www.portr.com.
