REG - Vela Technologies - Issue of Equity and Change to Total Voting Rights
RNS Number : 9153FVela Technologies PLC12 March 202012 March 2020
Vela Technologies plc
("Vela" or the "Company")
Issue of Equity
Change to Total Voting Rights
The Board of Vela (AIM: VELA) announces that it has today issued 30,000,000 new ordinary shares in the Company (the "New Ordinary Shares") to Align Research, in payment of a fee due for research services provided to the Company. The Company entered into an equity research service agreement with Align Research on 26 September 2019 (the "Agreement").
Under the terms of the Agreement, the Company has elected to satisfy the fees owed to Align Research through the issue of the 30,000,000 new ordinary shares, issued at a price of 0.1p per New Ordinary Share. Application has been made for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is anticipated that Admission will become effective at 8.00 a.m. on 17 March 2020.
Under the terms of the Agreement, the 30,000,000 New Ordinary Shares issued to Align Research shall be subject to a minimum six month lock-in period.
Following Admission, the total number of ordinary shares and voting rights in the Company will be 1,748,943,717. The Company does not hold any shares in treasury. From Admission, the above figure may be used by shareholders 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 pursuant to the FCA's Disclosure Guidance and Transparency Rules.
For further information, please contact:
Vela Technologies plc
Tel: +44 (0) 7802 262 443
Brent Fitzpatrick, Non-Executive Chairman
Antony Laiker, Director
Allenby Capital Limited
(Nominated Adviser and Broker)
Nick Athanas/Asha Chotai
Tel: +44 (0) 20 3328 5656
About Vela Technologies
Vela Technologies (AIM: VELA) is an investing company focused on early stage and pre-IPO long term disruptive technology investments. There are currently 12 investments in the portfolio which either have developed ways of utilising technology or developing technology with a view to disrupting the businesses or sector in which they operate. More recently, Vela Technologies has also started to focus on existing listed companies where valuations may offer additional opportunities.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.ENDIOEBGGDXIXBDGGD
Recent news on Vela Technologies
See all newsREG - Vela Technologies - Total Voting Rights
AnnouncementREG - Vela Technologies - Issue of Equity
AnnouncementREG - Vela Technologies - Holding in Company
AnnouncementREG - Vela Technologies - Quarterly Investment Update
AnnouncementREG - Vela Technologies - Holding(s) in Company
Announcement