Vela Technologies PLC Grant of share options (1917D)
23 Oktober 2015 - 8:00AM
UK Regulatory
TIDMVELA
RNS Number : 1917D
Vela Technologies PLC
23 October 2015
Vela Technologies plc
("Vela" or the "Company")
Grant of share options
Vela Technologies plc (AIM: VELA), the investing company focused
on early-stage and pre-IPO disruptive technology investments,
announces that on 22 October 2015, pursuant to the Company's
unapproved option scheme, it was agreed to award a total of
6,400,000 options to subscribe for new ordinary shares of 0.1 pence
each in the Company (the "Options") to the directors of the
Company.
At the Company's general meeting held on 18 September 2015 (the
"GM"), Vela obtained the required share authorities to issue and
allot new ordinary shares under section 561 of the Companies Act
2006. It was specified within the notice of GM sent to shareholders
that the allotment authority would be used, inter alia, for future
option grants for Directors. As such, and since the resolutions
were passed by shareholders at the GM, the Company has the
authorities to proceed with granting the Options immediately (the
"Grant"). The Options have been granted on the terms detailed
below:
Name of Director Existing No. of Exercise Total number Options held
options Options price of Options as % of existing
held to be granted (pence) held following share capital
the Grant
Brent Fitzpatrick
(Non-Executive 0.205
Chairman) 11,362,427 3,200,000 pence 14,562,427 2.49%
----------- --------------- --------- ---------------- ------------------
Antony Laiker 0.205
(Executive Director) 11,362,427 3,200,000 pence 14,562,427 2.49%
----------- --------------- --------- ---------------- ------------------
The Options will vest over a two year period as to one third on
Grant and one third on each of the first and second anniversaries
of the Grant date. The Options are not subject to any performance
conditions and will lapse seven years from the date of grant. The
exercise price of the Options of 0.205 pence, equivalent to the
closing mid-market price of Vela's ordinary shares on 22 October
2015.
Following the Grant, the total number of options outstanding
over ordinary shares will be 29,124,854, representing 4.99 per
cent. of the Company's issued share capital.
The grant of Options to Antony Laiker and Brent Fitzpatrick are
deemed to be related party transactions under the AIM Rules for
Companies. There are no independent directors for the purposes of
providing the statement required under Rule 13 for the AIM Rules
for Companies. Allenby Capital Limited, the Company's nominated
adviser, considers that the terms of the grant of the Options are
fair and reasonable insofar as shareholders of the Company are
concerned.
For further information please contact:
Vela Technologies plc
Brent Fitzpatrick, Non-Executive
Chairman Tel: +44 (0) 7802 262 443
Antony Laiker, Director
Allenby Capital Limited
(Nominated Adviser)
Nick Athanas/Katrina Perez/James Tel: +44 (0) 20 3328 5656
Reeve
Vicarage Capital Limited
(Broker) Tel: +44 (0) 20 3651 2910
Rupert Williams/Jeremy Woodgate
This information is provided by RNS
The company news service from the London Stock Exchange
END
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