REG - Vela Technologies - Proposed grant of options <Origin Href="QuoteRef">VELA.L</Origin>

Vela TechnologiesAnnouncement

17/02/2015 17:10

RNS Number : 1690F
Vela Technologies PLC
17 February 2015
17 February 2015
Vela Technologies plc
("Vela" or the "Company")
Proposed grant of share options
The Board of Vela (AIM: VELA), the investing company focused on early stage and pre-IPO technology investments, announces that on 17 February 2015, pursuant to the Company's unapproved option scheme, it agreed to award a total of 10,489,560 options to subscribe for new ordinary shares of 0.1 pence each in the Company (the "Options") to the directors of the Company. 
The Options will be granted once the Company has the required authority to issue new ordinary shares under section 561 of the Companies Act 2006. The Options will be granted on the terms detailed below:
Name
Position
Existing options held
No. of Options to be granted
Exercise price (pence)
Total number of Options held following grant
Brent Fitzpatrick
Non-Executive Chairman
6,117,647
5,244,780
0.15 pence
11,362,427
Antony Laiker
Executive Director
6,117,647
5,244,780
0.15 pence
11,362,427
The Options, once granted, 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 of 0.15 pence is equivalent to the price of the placing to raise 300,000 announced on 16 February 2015.
Once the Company has received the required authority under section 561 of the Companies Act 2006 and the Options have been granted, the total number of options outstanding over ordinary shares will be 22,724,854, representing 4.95 per cent. of the Company's issued share capital as enlarged by the issue of the placing shares, further details of which were announced on 16 February 2015.
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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