Result of General Meeting

RNS Number : 5211Z

Vela Technologies PLC

18 September 2015

Vela Technologies plc

("Vela" or the "Company")

Result of general meeting

The Board of Vela (AIM: VELA), the investing company focused on early-stage and pre-IPO disruptive technology investments, is pleased to announce that at the Company's general meeting held earlier today all of the resolutions were duly passed, including the approval of the placing of 125,000,000 new ordinary shares of 0.1 pence each in the Company (the "Placing Shares") at 0.2 pence each to raise £250,000 (before expenses) (the "Placing"). Following such approvals and save only for Admission (as defined below) the Placing, as announced on 26 August 2015, is now complete.

Application has been made for the Placing Shares to be admitted to trading on AIM ("Admission") and Admission is expected to become effective 8.00 a.m. on 21 September 2015.

Following Admission the Company's issued share capital will be 584,088,020 ordinary shares of 0.1p each (the "Enlarged Share Capital"). The Company does not hold any shares in treasury. This figure (584,088,020 ordinary shares) may be used by shareholders 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 Disclosure and Transparency Rules.

In addition, following the passing of the resolutions at the Company's general meeting, a total of 10,489,560 options to subscribe for new ordinary shares of 0.1 pence each in the Company (the "Options") have been granted to the directors of Vela, details of which were announced on 17 February 2015. The terms of the Options are detailed in the announcement released by the Company on 17 February 2015.

Following the grant of the Options and Admission the interests of the directors in the share capital of the Company is as follows:

Name of Director

No. of options held following grant of Options

Options as % of Enlarged Share Capital

Number of ordinary shares held

Ordinary shares held as % of Enlarged Share Capital

Antony Laiker (Executive Director)

11,362,427

1.95%

25,416,724

4.35%

Brent Fitzpatrick (Non-Executive Chairman)

11,362,427

1.95%

1,500,000

0.26%

Following the grant of the Options, the total number of Options outstanding over ordinary shares is 22,724,854 representing 3.89 per cent. of the Enlarged Share Capital.

For further information please contact:

Vela Technologies plc

Brent Fitzpatrick, Non-Executive Chairman

Antony Laiker, Director

Tel: +44 (0) 7802 262 443

Allenby Capital Limited

(Nominated Adviser)

Nick Athanas/Katrina Perez/James Reeve

Vicarage Capital Limited

(Broker)

Rupert Williams/Jeremy Woodgate

Tel: +44 (0) 20 3328 5656