Vela Technologies PLC Disposal of holding in BlockchainK2 Corp (5344M)
January 22 2021 - 1:00AM
UK Regulatory
TIDMVELA
RNS Number : 5344M
Vela Technologies PLC
22 January 2021
22 January 2021
Vela Technologies plc
("Vela" or the "Company")
Disposal of holding in BlockchainK2 Corp
The Board of Vela (AIM: VELA) announces that, between 12 January
2021 and 20 January 2021, the Company disposed of its entire
holding of 272,000 shares in BlockchainK2 Corp ("BlockchainK2") at
prices between CAD$0.86 per share and CAD$1.5255 per share and with
an average price of CAD$1.19 per share generating net proceeds of
c.CAD$322,855 (approximately GBP186,390) for the Company (the
"Disposal").
Although Vela originally invested GBP200,589 in BlockchainK2 in
May 2018 its book value in Vela's latest published accounts (as at
31 March 2020) was GBP14,396. Therefore, the accounts for the year
ending 31 March 2021 will reflect a profit on disposal of
c.GBP172,000.
Following the Disposal, Vela no longer holds any shares in
BlockchainK2. The net proceeds from the Disposal will be used by
the Company to make further investments in line with the Company's
investing policy and for general working capital purposes.
For further information, please contact:
Vela Technologies plc Tel: +44 (0) 7421
Brent Fitzpatrick, Non-Executive Chairman 728875
James Normand, Executive Director
Allenby Capital Limited (Nominated Adviser Tel: +44 (0) 20
and Joint Broker) 3328 5656
Nick Athanas/Asha Chotai
Peterhouse Capital Limited (Joint Broker) Tel: +44 (0) 20
Lucy Williams / Duncan Vasey / Eran Zucker 7469 0930
About Vela Technologies
Vela Technologies (AIM: VELA) is an investing company focused on
early stage and pre-IPO long term disruptive technology
investments. Vela's investee companies have either developed ways
of utilising technology or are 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.
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