Vela Technologies PLC Exercise of warrants and issue of equity (4356E)
05 November 2020 - 5:39PM
UK Regulatory
TIDMVELA
RNS Number : 4356E
Vela Technologies PLC
05 November 2020
Prior to publication, the information contained within this
announcement was deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No. 596/2014 ("MAR"). With the publication of this announcement,
this information is now considered to be in the public domain.
5 November 2020
Vela Technologies plc
("Vela" or the "Company")
Exercise of warrants and issue of equity
The Board of Vela (AIM: VELA) announces that it has made an
application to the London Stock Exchange for the admission to
trading on AIM ("Admission") of 336,666,668 new ordinary shares of
0.01p in the Company ("New Ordinary Shares").
The New Ordinary Shares are being issued pursuant to exercises
of warrants to subscribe for new Ordinary Shares at a price of
0.06p per Ordinary Share, generating proceeds of GBP202,000 for the
Company. The proceeds from the warrant exercises will provide
additional funding for Vela to identify, evaluate and make
investments in accordance with its investing policy.
The warrants were issued as part of the placing of new Ordinary
Shares completed in conjunction with, inter alia, the disposal of
certain of Vela's assets and share capital reorganisations in
August 2020.
The New Ordinary Shares will rank pari passu in all respects
with the Company's existing ordinary shares and Admission is
expected to become effective on 11 November 2020.
Total Voting Rights
From Admission the issued share capital of the Company will
consist of 12,074,071,417 Ordinary Shares, with one voting right
per share. As the Company does not hold any Ordinary Shares in
treasury, the total number of Ordinary Shares and voting rights in
the Company will be 12,074,071,417.
From Admission, the above figure 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 FCA's Disclosure Guidance and Transparency Rules.
For further information, please contact:
Vela Technologies plc Tel: +44 (0) 7421
Brent Fitzpatrick, Non-Executive Chairman 728875
James Normand, Executive Director
Allenby Capital Limited (Nominated Adviser Tel: +44 (0) 20 3328
and Joint Broker) 5656
Nick Athanas/Asha Chotai
Peterhouse Capital Limited (Joint Broker) Tel: +44 (0) 20 7469
0930
Lucy Williams / Duncan Vasey / Eran Zucker
About Vela Technologies plc
Vela Technologies (AIM: VELA) is an investing company focused on
early stage and pre-IPO long term disruptive technology
investments. Vela's investee companies have either developed ways
of utilising technology or are in the process of developing
technology with a view to disrupting the businesses or sector in
which they operate. More recently, Vela Technologies has broadened
its focus to include existing listed companies where valuations may
offer additional opportunities.
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END
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