REG - Vela Technologies - Issue of Equity

Vela TechnologiesAnnouncement

26/03/2024 07:00

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RNS Number : 2349I  Vela Technologies PLC  26 March 2024

26 March 2024

Vela Technologies plc

("Vela" or "the Company")

Issue of Equity

 

The Board of Vela (AIM:VELA), an AIM-quoted investing company focused on early
stage and pre-IPO disruptive technology investments, announces that it has
issued 294,117,647 ordinary shares of 0.01 pence each (the "New Ordinary
Shares") in the Company in settlement of a £50,000 corporate finance advisory
fee payable to the Company's broker, Peterhouse Capital Limited (an effective
issue price of 0.017 pence per share). As explained in the Company's
announcement on 23 February 2024, this fee crystallised in January 2024 on the
termination of discussions regarding a potential transaction.

The New Ordinary Shares will rank pari passu in all respects with the
Company's existing ordinary shares.  Application has been made to the London
Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM
("Admission"). It is expected that Admission will become effective and that
dealings in the Shares on AIM will commence at 8.00 a.m. on or around 2 April
2024.

Total Voting Rights

From Admission the issued share capital of the Company will comprise
16,546,452,831 ordinary shares of 0.01 pence each (the "Ordinary Shares"),
with one vote per share.  The Company does not hold any Ordinary Shares in
Treasury. Therefore, on Admission, the total number of Ordinary Shares and
voting rights in the Company will be 16,546,452,831. With effect from
Admission, this figure may be used by shareholders as the denominator for the
calculation to determine if there is a requirement under the FCA's Disclosure
Guidance and Transparency Rules to notify an interest in, or a change of
interest in, the share capital of the Company.

For further information, please contact:

 Vela Technologies plc                        Tel: +44 (0) 7421 728875

 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 plc

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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