Exercise of warrants in BTL Group Ltd

RNS Number : 6262X

Vela Technologies PLC

27 November 2017

 

27 November 2017

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 24 November 2017, the Company exercised a total of 41,666 warrants in BTL Group Ltd ("BTL") at a price of C$1.50 per share (the "Exercise") at a total cost of approximately C$62,500 (equivalent to approximately £38,100). The warrants were exercisable for a period expiring on 17 December 2017.

Following the Exercise, the Company holds 631,666 common shares in BTL, equivalent to approximately 2.81 per cent. of BTL's enlarged issued share capital. BTL is listed on the TSX Venture Exchange, on which the closing mid-market price on 24 November 2017 of BTL's common shares was C$7.20 per share which values Vela's shareholding in BTL at approximately C$4.55 million (equivalent to approximately £2.68 million*).

In addition, Vela holds a total of 25,000 warrants which are exercisable at a price of C$3.25 for a period expiring on 6 April 2019.

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 27 November 2017 of C$1: GB£0.5904

 For further information, please contact:

Vela Technologies plc Brent Fitzpatrick, Non-Executive Chairman Antony Laiker, Director Tel: [phone] Allenby Capital Limited (Nominated Adviser) Nick Athanas/Katrina Perez/Asha Chotai Tel: [phone] Smaller Company Capital Limited (Broker) Rupert Williams/Jeremy Woodgate Tel: [phone]

 

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