Result of General Meeting

RNS Number : 8462K

Vela Technologies PLC

26 September 2016

Vela Technologies plc

("Vela", the "Company" or the "Group")

Result of General Meeting

Background

On 9 September 2016, Vela Technologies (AIM: VELA), the investing company focused on early-stage and pre-IPO disruptive technology investments, announced a conditional fundraising to raise £400,000 (before expenses) through the issue of convertible unsecured loan notes to certain Shareholders, including Antony Laiker (a director of the Company). The funds raised through the issue of the Loan Notes will be used for additional working capital and to provide additional funds for the Company to make further investments in the future, in accordance with its investing policy. In addition, on 9 September 2016 the Company announced, inter alia, a proposed Consolidation and Sub-division of its existing ordinary share capital.

The Company posted a circular to Shareholders on 9 September 2016 convening the General Meeting. Further details on, inter alia, the terms of the Loan Notes are contained in the circular posted to Shareholders and the announcement released by the Company on 9 September 2016.

Result of General Meeting

At the General Meeting, held today, all of the Resolutions set out in the Notice of General Meeting, were passed.

As a result, the convertible loan note instrument has been executed. As at the date of this announcement the Company has not yet received the funds totalling £400,000 from the subscribers for the Loan Notes. The funds are expected to be received shortly and, once funds are received in full, the Company will issue the Loan Notes and the Fundraising will be completed. A further announcement will be made.

In addition, the consolidation and sub-division of the 721,588,020 Existing Ordinary Shares into 721,588,500 new Ordinary Shares of 0.1 pence in the capital of the Company was approved by Shareholders at the General Meeting.

Total Voting Rights and Admission

Application has been made to the London Stock Exchange for 721,588,500 New Ordinary Shares to be admitted to trading on AIM at 8.00 a.m. on 27 September 2016.

Following Admission, the Company's total issued share capital will comprise 721,588,500 New Ordinary Shares with voting rights. This figure 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, securities of the Company under the FCA's Disclosure and Transparency Rules.

Defined terms used in this announcement not otherwise defined shall have the same meaning as those terms defined and used in the Circular

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/Nick Naylor

Smaller Company Capital Limited

(Broker)

Rupert Williams/Jeremy Woodgate