Vela Technologies PLC Issue of Equity and Change to Total Voting Rights (9153F)
12 March 2020 - 9:39PM
UK Regulatory
TIDMVELA
RNS Number : 9153F
Vela Technologies PLC
12 March 2020
12 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 Tel: +44 (0) 20 3328
(Nominated Adviser and Broker) 5656
Nick Athanas/Asha Chotai
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.
END
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