Vela Technologies PLC Exercise of warrants and issue of equity (3730Q)
February 25 2021 - 5:46AM
UK Regulatory
TIDMVELA
RNS Number : 3730Q
Vela Technologies PLC
25 February 2021
25 February 2021
Vela Technologies plc
("Vela" or "the Company")
Exercise of warrants and issue of equity
The Board of Vela (AIM: VELA) announces that it will shortly
make an application to the London Stock Exchange for the admission
to trading on AIM ("Admission") of 51,808,000 new ordinary shares
of 0.01p in the Company ("New Ordinary Shares").
The New Ordinary Shares are being issued pursuant to the
exercise of warrants to subscribe for new Ordinary Shares at a
price of 0.06p per Ordinary Share, generating proceeds of GBP31,085
for the Company. The warrants were issued as part of the placing of
new ordinary shares completed in conjunction with, inter alia, the
disposal of certain of Vela's assets and share capital
reorganisations in August 2020.
The New Ordinary Shares will rank pari passu in all respects
with the Company's existing ordinary shares and Admission is
expected to become effective on 3 March 2021.
Total Voting Rights
From Admission the issued share capital of the Company will
consist of 12,151,783,417 Ordinary Shares, with one voting right
per share. As the Company does not hold any Ordinary Shares in
treasury, the total number of Ordinary Shares and voting rights in
the Company will be 12,151,783,417.
From Admission, the above figure 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 to their interest in, the share capital of the Company
under the FCA's Disclosure Guidance and Transparency Rules.
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 3328
and Joint Broker) 5656
Nick Athanas / Asha Chotai
Peterhouse Capital Limited (Joint Broker) Tel: +44 (0) 20 7469
Lucy Williams / Duncan Vasey / Eran Zucker 0930
About Vela Technologies plc
Vela Technologies plc (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. Vela
Technologies will also invest in already-listed companies where
valuations offer additional opportunities.
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