Vela Technologies PLC Exercise of warrants in BTL Group Ltd (1377C)
January 17 2018 - 4:58AM
UK Regulatory
TIDMVELA
RNS Number : 1377C
Vela Technologies PLC
17 January 2018
17 January 2018
Vela Technologies plc
("Vela" or the "Company")
Exercise of warrants in BTL Group Ltd
The Board of Vela (AIM: VELA), the investing company focused on
early-stage and pre-IPO disruptive technology investments,
announces that, on 16 January 2018, the Company exercised its
remaining 25,000 warrants in BTL Group Ltd ("BTL") at a price of
C$3.25 per share (the "Exercise") at a total cost of approximately
C$81,250 (equivalent to approximately GBP47,315). The warrants were
exercisable for a period expiring on 6 April 2019.
Following the Exercise, the Company holds 620,000 common shares
in BTL, equivalent to approximately 2.91 per cent. of BTL's issued
share capital. BTL is listed on the TSX Venture Exchange, on which
the closing mid-market price on 16 January 2018 of BTL's common
shares was C$11.17 per share which values Vela's shareholding in
BTL at approximately C$6.93 million (equivalent to approximately
GBP4.03 million*).
ABOUT BTL GROUP LTD.
Operating from both Canada and the UK, BTL offers blockchain
solutions to businesses across multiple industries, in particular
the finance, energy and gaming sectors. BTL has built prototypes
that showcase the capabilities of its Interbit platform, a
proprietary blockchain based interbank payment network and
settlement and asset trading solution.
Interbit is an open, multi-chain, asset settlement platform with
a suite of APIs and smart contracts that allow businesses from
across the world to provide global access to fast, secure, and
auditable financial and asset trading services.
With offices in Vancouver and Canary Wharf in London, BTL is
positioning itself as a front-runner in the blockchain ecosystem,
providing advice and knowledge to industry leaders.
Website: www.btl.co
Twitter: https://twitter.com/blockchainltd
*Based on the exchange rate as on 17 January 2018 of C$1:
GBGBP0.5823
For further information, please contact:
Vela Technologies plc
Brent Fitzpatrick, Non-Executive
Chairman Tel: +44 (0) 7802
Antony Laiker, Director 262 443
Allenby Capital Limited
(Nominated Adviser)
Nick Athanas/Katrina Perez/Asha Tel: +44 (0) 20
Chotai 3328 5656
Smaller Company Capital
Limited
(Broker) Tel: +44 (0) 20
Rupert Williams/Jeremy Woodgate 3651 2910
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOELLFEILRIDLIT
(END) Dow Jones Newswires
January 17, 2018 05:58 ET (10:58 GMT)
Vela Technologies (LSE:VELA)
Historical Stock Chart
From Apr 2024 to May 2024
Vela Technologies (LSE:VELA)
Historical Stock Chart
From May 2023 to May 2024