Velocys PLC Issue of Equity (3165F)
27 July 2016 - 4:00PM
UK Regulatory
TIDMVLS
RNS Number : 3165F
Velocys PLC
27 July 2016
News release
Velocys plc
("Velocys" or "the Company")
27(th) July 2016
Share issue in relation to Pinto Energy LLC
Velocys plc (VLS.L), the company at the forefront of smaller
scale gas-to-liquids (GTL), announces that, on 25 July 2016, a
further 4,320 Ordinary shares of 1p each ("New Ordinary Shares")
were issued to a vendor of Pinto Energy LLC ("Pinto Energy") and
the Ashtabula GTL project in final satisfaction of the purchase
consideration for the acquisition of 100% of Pinto Energy and its
wholly owned subsidiaries, including Ashtabula Energy LLC (as
referred to in the Company's announcement dated 25 June 2014).
The New Ordinary Shares represent the agreed number of shares
which have now become issuable by Velocys under the terms of the
sale and purchase documentation relating to Pinto Energy. Following
this allotment, there are no further shares remaining to be issued
under the terms of the acquisition.
The New Ordinary Shares will rank pari-passu with all existing
ordinary shares of Velocys plc. Application has been made for the
New Ordinary Shares to be admitted to trading on AIM; it is
expected that such admission will be effective as at 8 am on 1
August 2016.
The Company's total issued share capital after admission of
these Shares will be 143,876,282 ordinary shares. The Company does
not currently hold any shares in treasury. This figure of
143,876,282 Ordinary Shares may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under
the FCA's Disclosure and Transparency Rules.
For further information, please contact:
Velocys
David Pummell, CEO +44 1235 841
Susan Robertson, CFO 700
Numis Securities (Nomad and Broker)
Alex Ham - Corporate Broking
Stuart Skinner / Jamie Lillywhite +44 20 7260
- Nominated Adviser 1000
Camarco (financial communications
& PR) +44 20 3757
Billy Clegg / Georgia Mann 4983
Notes to editors
About Velocys
Velocys is the company at the forefront of smaller scale
gas-to-liquids (GTL) that turns natural gas or biomass into premium
products such as diesel, jet fuel, waxes and base oils. Smaller
scale GTL adds value to shale gas and bio-waste, and makes stranded
or flared gas economic - an untapped market of up to 25 million
barrels per day.
Velocys technology, protected by several hundred patents in over
30 countries, is specifically designed for smaller scales,
combining super-active catalysts with intensified reactor systems.
The Company's standardised modular plants are easier to ship and
faster to install, at lower risk, even in the most remote or
challenging locations. Together with world-class partners, Velocys
works flexibly to unlock gas resources of 15,000 to 150,000 mmbtu
per day, allowing more companies to take advantage of more
opportunities.
Velocys plc is listed on the AIM market of the London Stock
Exchange (LSE: VLS). The Company is well capitalised and has a
strong, multi-disciplinary staff operating from its commercial
centre in Houston, Texas, USA and technical facilities near Oxford,
UK and Columbus, Ohio, USA. Its commercial reference plant, which
will be located adjacent to Waste Management's East Oak landfill
site, is under construction.
www.velocys.com
Think Smaller(TM). Velocys is changing the way fuels are
made.
This information is provided by RNS
The company news service from the London Stock Exchange
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