Vela Technologies PLC Update re. Investment in StreamTV Networks, Inc. (0360J)
30 November 2018 - 7:04PM
UK Regulatory
TIDMVELA
RNS Number : 0360J
Vela Technologies PLC
30 November 2018
30 November 2018
Vela Technologies plc
("Vela" or the "Company")
Update re. Investment in StreamTV Networks, Inc.
The Board of Vela (AIM: VELA), the investing company focused on
early-stage and pre-IPO disruptive technology investments, is
pleased to note the announcement made yesterday by StreamTV
Networks, Inc. ("StreamTV") regarding the finalisation of a
long-form strategic agreement between StreamTV and BOE Technology
Group Co., Ltd ("BOE") to combine the high-resolution panels of
BOE, the number one supplier globally, with StreamTV's Glasses-Free
3D technology, Ultra-D.
Vela holds, as at the date of this announcement, 47,898 Class A
Common Shares in StreamTV, following the early loan conversion of
the $100,000 Convertible Promissory Notes in StreamTV plus
$43,693.16 of interest, in June 2016.
Antony Laiker, Director of Vela, commented: "We have long
extolled the quality and benefits of StreamTV's Ultra-D technology.
Whilst it has taken longer to reach this point than we envisaged,
this joint sales and marketing agreement with BOE, the world's
largest panel manufacturer, endorses what StreamTV has been working
towards over these last few years."
Extracts of the announcement by Stream TV are copied below:
STREAM TV AND BOE PARTNER TO BRING HIGH-RESOLUTION GLASSES-FREE
3D TO THE 8K GLOBAL MARKET
Philadelphia, PA (November 29, 2018) - Stream TV Networks, Inc.
and BOE Technology Group Co., Ltd. are pleased to announce the
finalization of their long-form strategic agreement to combine the
high-resolution panels of BOE, the number one panel supplier
globally, with Stream TV's award-winning Glasses-Free 3D
technology, Ultra-D. With the new agreement, BOE is entering into
the 3D market hand in hand with Stream TV.
Stream TV Networks and BOE have just concluded a joint press
conference in Beijing, attended by Senior Executive Staff from both
companies, to showcase the latest versions of Stream TV's
Glasses-Free 3D technology. At the press conference, BOE expressed
its intention to include Stream TV's technology on their entire
series of product lines going forward.
"We have enhanced 8K screens and high-resolution panels (TVs,
phones, laptops, tablets, monitors, etc.) to provide an
unparalleled viewing experience that brings real value to device
makers and their customers," said Mathu Rajan, CEO of Stream TV.
"With our partnership with BOE, we will make significant strides in
the global 8K market, enabling consumers to have a far-greater
viewing experience for all content, on any device."
Widely regarded as the world's best Glasses-Free 3D technology,
Stream TV's Ultra-D solution uses advanced optics and powerful
rendering algorithms to create a 140-degree viewing angle that
gives everyone in the room a crisp, clear, vibrant, and fully
adjustable 3D experience without the need for glasses or
goggles.
BOE's panels combined with Stream's Ultra-D technology were
shown to leading companies in the industry who plan to release
products with Ultra-D in 2019.
ABOUT STREAM TV NETWORKS, INC:
Stream TV is a Philadelphia-based technology company. Its
breakthrough Ultra-D technology is the only proprietary
Glasses-Free 3D solution that delivers both a stunning visual
display as well as content conversion from any 2D or 3D source.
www.Ultra-D.com
ABOUT BOE:
BOE is a pioneer in the innovation and development of TFT-LCD
technologies and dedicates itself to speeding up the progress of
new display devices like flexible displays, augmented and virtual
reality. BOE aims to create light, slim, energy-saving and
environment-friendly products with high-color fidelity, high
definition images and wide viewing angles. It is constantly
improving the visual experience for mobile phones, tablets,
notebooks, monitors, televisions and other devices.
http://www.boe.com/en/index/pei.html
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 Tel: +44 (0) 20 3328
(Nominated Adviser) 5656
Nick Athanas/Asha Chotai
Smaller Company Capital Limited Tel: +44 (0) 20 3651
(Broker) 2910
Rupert Williams/Jeremy Woodgate
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END
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