PR Newswire
London, March 25
25 March 2014
Vela Technologies PLC
("Vela" or the "Company")
Subscription to raise £325,000
Vela Technologies, the investing company focussing on early stage and pre-IPO
technology investments, announces that it has agreed an equity subscription
with Gilbert Eliott Holdings Ltd. for 65,000,000 new ordinary shares of 0.1
pence each in the capital of the Company at a price of 0.5 pence per share
raising gross proceeds of £325,000, subject to receipt of funds. The funds
raised will strengthen the Company's financial position and give it the
flexibility to take advantage of potential investment opportunities. On
completion of the subscription, Gilbert Eliott Holdings Ltd. will be interested
in 65,000,000 ordinary shares, representing approximately 29.27 per cent. of
the Company's issued ordinary share capital. A further announcement will be
made on completion of the subscription.
Application will be made for the new ordinary shares, which will on issue rank
pari passu with the Company's existing issued ordinary shares, to be admitted
to trading on AIM. Admission is expected to become effective and dealings to
commence on or around 31 March 2014. On completion, the enlarged issued share
capital of Vela Technologies with voting rights attached will consist of
222,088,020 ordinary shares of 0.1p each with one vote per ordinary share.
There are no shares held in Treasury. The total number of voting rights in Vela
Technologies will therefore be 222,088,020, which figure may be used by
shareholders (and others with notification obligations) as the denominator for
the calculations by which they will determine whether they are required to
notify their interest, or a change to their interest, in Vela Technologies
under the Financial Conduct Authority's Disclosure and Transparency Rules.
For further Information:
Brent Fitzpatrick, Non-Executive Chairman 07802 262 443
Antony Laiker, Director
Vela Technologies plc
ZAI Corporate Finance, Nomad 020 7060 2220
Peter Trevelyan-Clark/
Tim Cofman/Wei Wang
Peterhouse Corporate Finance, Joint Broker 020 7469 0932
Eran Zucker
XCAP Securities plc, Joint Broker 020 7101 7070
Jon Belliss
Newgate Threadneedle 020 7653 9850
Graham Herring/Heather Armstrong
