Exercise of warrants and issue of equity

RNS Number : 9039K

Vela Technologies PLC

07 September 2021

 

7 September 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 821,549,809 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 generating proceeds of c.£362,530 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. Further to the announcements released by the Company on 31 July 2020 and 18 August 2021, 138,158,000 warrants have now expired without exercise.

Included within the issue of New Ordinary Shares is the exercise of 362,222,142 warrants held by Peterhouse Capital Limited, the Company's joint broker, at a price of 0.024 pence per share pursuant to their contractual arrangements as the Company's joint broker and in connection with the placing of new ordinary shares announced 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 10 September 2021.

Total Voting Rights

From Admission the issued share capital of the Company will consist of 16,252,335,184 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 16,252,335,184.

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 Brent Fitzpatrick, Non-Executive Chairman James Normand, Executive Director	Tel: [phone]
Allenby Capital Limited (Nominated Adviser and Joint Broker)	Tel: [phone]
Nick Athanas / Piers Shimwell
Peterhouse Capital Limited (Joint Broker) Lucy Williams / Duncan Vasey / Eran Zucker	Tel: [phone]

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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