Result of General Meeting

RNS Number : 8942G

Velocys PLC

01 June 2017

 

News release

Velocys plc

("Velocys" or "the Company")

1 June 2017

Result of general meeting and total voting rights

Velocys plc (VLS.L), the company at the forefront of smaller scale gas-to-liquids (GTL), is pleased to announce that, in connection with the £10 million fundraising announced by the Company on 15 May 2017, the resolutions put to shareholders at the General Meeting today were duly passed.

Application has been made for the new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on 2 June 2017. Following Admission the Company will have 146,593,495 shares in issue.

The Company does not currently hold any shares in treasury. Accordingly, the above figure of 146,593,495 Ordinary Shares 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 in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

David Pummell, CEO of Velocys, said:

"The fund raise secured today allows us to accelerate the implementation of the first stage of our strategy, putting in place a consortium of partners with the aim of delivering a wider commercial renewable fuels offer and securing the first final investment decision for a renewable fuels plant.

"We would like to thank our existing shareholders for their support in the recent financing." 

- Ends -

For further information, please contact:

Velocys David Pummell, CEO Susan Robertson, CFO	[phone]
Numis Securities (Nomad and joint broker) Alex Ham Stuart Skinner Jamie Lillywhite Tom Ballard	[phone]
Canaccord Genuity (Joint broker) Henry Fitzgerald-O'Connor Ben Griffiths	[phone]
Camarco (Financial communications & PR) Billy Clegg Georgia Edmonds	[phone]

Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) prior to its release as part of this announcement.

Notes to editors

About Velocys

Velocys is the company at the forefront of smaller scale gas-to-liquids (GTL), providing the bridge connecting stranded and low value feedstocks such as natural gas, landfill gas or biomass with markets for premium products such as renewable diesel, jet fuel and waxes.

With its partners, Velocys aims to deliver the most economically compelling conversion solution; a fully integrated offer that can be deployed at scale into the growing, attractive markets on which it focuses. Velocys technology, protected by several hundred patents in over 30 countries, is specifically designed for smaller scales, combining super-active catalysts with intensified reactor systems. Standardised modular plants can be deployed readily in a wide range of locations, and Velocys' capabilities and extensive experience deliver a proven route to operation.

Velocys plc is admitted to trading on the AIM market of the London Stock Exchange (LSE: VLS). The Company has a strong, multi-disciplinary staff operating from its commercial centre in Houston, Texas, USA and technical facilities near Oxford, UK and Columbus, Ohio, USA. First product has been produced at its commercial reference plant, which is located adjacent to Waste Management's East Oak landfill site in Oklahoma City.

www.velocys.com 

 

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