REG - Velocys PLC - Final results for the year ended 31 December 2015 <Origin Href="QuoteRef">VLSV.L</Origin> - Part 2

VelocysAnnouncement

27/04/2016 07:06

- Part 2: For the preceding part double click  ID:nRSa4360Wa 

proceeding; this is a level 3 fair value measurement. The deferred
consideration was contingent on the achievement of FID within a specified time
frame. The fair value estimate was based on a discount of 25%; this is also a
level 3 fair value measurement. 
 
FID was not achieved during the specified time frame, which fell during 2015.
As a result, the value of both the customer contract and the deferred
consideration have been fully impaired, with a remaining value of £nil in each
case. 
 
9.    Statutory information 
 
Copies of the 2015 annual report will be posted to shareholders at least 21
days before the Company's Annual General Meeting and may be obtained from the
date of posting for one month free of charge from the registered office of
Velocys plc, 115e Olympic Avenue, Milton Park, Abingdon, OX14 4SA, as well as
from the Company's website www.velocys.com. 
 
10.  Annual General Meeting 
 
The Annual General Meeting ("AGM") is to be held on 14 June 2016. Notice of
the AGM will be dispatched to shareholders with the Company's report and
accounts. 
 
This information is provided by RNS
The company news service from the London Stock Exchange