Vela Technologies - Update re. investment in Aeristech Limited
06/02/2025 12:24
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RNS Number : 2160W Vela Technologies PLC 06 February 2025
6 February 2025
Vela Technologies plc
("Vela" or "the Company")
Update re. investment in Aeristech Limited
The Board of Vela (AIM: VELA), an AIM-quoted investing company focused on
early stage and pre-IPO disruptive technology investments, reports that it
learned yesterday evening that, on Monday 3 February 2025, Begbies Traynor
were appointed as administrators to its investee company, Aeristech Limited
("Aeristech").
On 25 February 2021, Vela announced that it had invested £350,000 at £2.40
per share into Aeristech, a UK-based manufacturer of power-dense compressors
used within hydrogen fuel cells.
Vela holds 145,833 ordinary shares in Aeristech, representing less than 1% of
Aeristech's issued share capital. These shares are currently carried in Vela's
balance sheet at a value of £401,000 (as reported in the Company's last
quarterly update for the quarter ended 31 December 2024, published by the
Company on 27 January 2025).
The Board will announce any future material developments as they occur, but
anticipate that the appointment of administrators will lead to Vela making a
full provision against the value of its investment in Aeristech in its next
published accounts (for the year ending 31 March 2025).
For further information, please contact:
Vela Technologies plc Tel: +44 (0) 7950 389469
Brent Fitzpatrick, Non-Executive Chairman
James Normand, Executive Director
Allenby Capital Limited (Nominated Adviser) Tel: +44 (0) 20 3328 5656
Nick Athanas / Piers Shimwell
Peterhouse Capital Limited (Broker) Tel: +44 (0) 20 7469 0930
Novus Communications (PR and IR Adviser) Tel: +44 (0) 20 7448 9839
Alan Green / Jacqueline Briscoe
About Vela Technologies
Vela Technologies plc (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
developing technology with a view to disrupting the businesses or sector in
which they operate. Vela Technologies will also invest in already-listed
companies where valuations offer additional opportunities.
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