REG - Vela Technologies - Investment in EnSilica plc

Vela TechnologiesAnnouncement

14/03/2023 15:00

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RNS Number : 9560S  Vela Technologies PLC  14 March 2023

14 March 2023

Vela Technologies plc

("Vela" or "the Company")

 

Investment in EnSilica plc

The Board of Vela (AIM: VELA), an AIM-quoted investing company focused on
early stage and pre-IPO disruptive technology investments, announces that the
Company has invested £125,000 in EnSilica plc ("EnSilica") through the
purchase of 178,572 ordinary shares. The investment has been made as part of a
£2.0 million placing undertaken by EnSilica, details of which were announced
by EnSilica on 9 March 2023.

Further information on EnSilica

EnSilica is a leading fabless design house focused on custom ASIC design and
supply for OEMs and system houses, as well as IC design services for companies
with their own design teams. EnSilica has world-class expertise in supplying
custom RF, mmWave, mixed signal and digital ICs to its international customers
in the automotive, industrial, healthcare and communications markets.

EnSilica also offers a broad portfolio of core IP covering cryptography,
radar, and communications systems. EnSilica has a track record in delivering
high quality solutions to demanding industry standards. EnSilica is
headquartered near Oxford, UK and has design centres across the UK and in
India and Brazil.

For the year ended 31 May 2022, EnSilica reported revenue of £15.3 million
and a loss before taxation of £0.5 million. EnSilica's unaudited net assets
as at 30 November 2022 were £12.6 million.

Details of the investment and update on shareholding in EnSilica

Vela has purchased 178,572 ordinary shares of 0.1p each in EnSilica, at a
price of 70 pence per share for a total cost to the Company of £125,000,
satisfied from the Company's existing cash resources.

Settlement of Vela's investment took place earlier today, in accordance with
the details announced by EnSilica on 9 March 2023.

Vela's investment is part of a placing for EnSilica that successfully raised
£2.0 million (before expenses) for the company.

Since the Company announced its updated shareholding in EnSilica on 6 December
2022, the Company has also disposed of 265,000 shares in EnSilica at an
average price of 90 pence per share between 9 December 2022 and 20 February
2023.

Following the investment announced today, and taking into the share sales
detailed above, Vela holds 1,109,707 ordinary shares in EnSilica representing
1.42 per cent. of EnSilica's current issued share capital.

For further information, please contact:

 

 Vela Technologies plc                        Tel: +44 (0) 7410 886830

 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
 Lucy Williams / Duncan Vasey / Eran Zucker

 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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