REG - Vela Technologies - Grant of options, issue of equity <Origin Href="QuoteRef">VELA.L</Origin>

Vela TechnologiesAnnouncement

29/10/2014 07:41

RNS Number : 2909T
Vela Technologies PLC
02 October 2014
Vela Technologies plc
("Vela" or the "Company")
Grant of options, issue of equity and directors' shareholdings
Grant of options
Vela Technologies plc (AIM: VELA), the investing company focused on early stage and pre-IPO technology investments, announces that on 2 October 2014 pursuant to the Company's unapproved option scheme, it awarded a total of 4,000,000 options to subscribe for new ordinary shares of 0.1 pence each in the Company (the "Options") to the directors of the Company on the terms detailed below:
Name
Position
No. of Options
Exercise price (pence)
Total number of Options now held
Antony Laiker
Executive Director
2,000,000
0.325 pence
6,117,647
Brent Fitzpatrick
Non-Executive Chairman
2,000,000
0.325 pence
6,117,647
The Options will vest over a two year period as to one third on grant and one third on the first and second anniversaries of the grant dates. The Options are not subject to any performance conditions and will lapse 7 years from the date of grant.
The exercise price is based on the closing mid-market price of 0.325 pence on 1 October 2014, the day before the Options were issued.
Following the grant of the Options, the total number of options outstanding over ordinary shares is 12,235,294 representing 4.9 per cent. of the Company's current issued share capital.
Issue of equity and directors' shareholdings
The Board of Vela announces that on 2 October 2014 it issued 6,000,000 new ordinary shares of 0.1 pence each in the Company (the "New Ordinary Shares") in settlement of certain directors' fees totaling 24,000 as follows:
 An aggregate amount of 18,000 for the period from 1 October 2013 to 30 September 2014 owed to Antony Laiker (Executive Director) to be satisfied through the issue and allotment of 4,500,000 New Ordinary Shares; and
 An aggregate amount of 6,000 for the period from 1 April 2013 to 31 March 2014 owed to Brent Fitzpatrick (Non-Executive Chairman) to be satisfied through the issue and allotment of 1,500,000 New Ordinary Shares.
The New Ordinary Shares have been issued at a price of 0.4 pence per share, a 23% per cent. premium to the closing mid-market price of 0.325 pence on 1 October 2014, the day before the New Ordinary Shares were issued.
Following the issue of the New Ordinary Shares, Antony Laiker will be interested in 6,416,724 ordinary shares representing 2.52 per cent. of the issued share capital (as enlarged by the issue of the New Ordinary Shares) and Brent Fitzpatrick will be interested in 1,500,000 ordinary shares representing 0.59 per cent. of the issued share capital (as enlarged by the issue of the New Ordinary Shares).
Application will be made to the London Stock Exchange for the 6,000,000 New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on or around 9 October 2014.
Following the issue of the New Ordinary Shares, the Company's issued share capital consists of 255,088,020 ordinary shares of 0.1 pence each with one voting right each. The Company does not hold any ordinary shares in treasury. Therefore the total number of ordinary shares and voting rights in the Company is 255,088,020.
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 and Transparency Rules.
For further information please contact:
Vela Technologies plc

Brent Fitzpatrick, Non-Executive Chairman
Antony Laiker, Director
Tel: +44 (0) 7802 262 443
Allenby Capital Limited

Nick Athanas/Katrina Perez/James Reeve
Tel: +44 (0) 20 3328 5656

This information is provided by RNS
The company news service from the London Stock Exchange
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