Major interest and total voti

RNS Number : 3545I

Velosi Limited

10 March 2010

 



Velosi Limited

("Velosi" or "the Company")

Notification of major interest and total voting rights

Further to the announcement of 9 February 2010 in relation to the acquisition of the Velosi trading name in Malaysia, the Company confirms that application has been made for the 1,618,677 Ordinary Shares issued to the Vendors pursuant to the Sale and Purchase Agreement to be admitted to trading AIM with effect from 12 March 2010.

The Company also confirms that the Ordinary Shares to be issued to Mohd Ashari and Mohd Jai have been issued to Axzar Investment Limited ("Axzar") for their benefit.  The Vendors are therefore interested in, in aggregate, 11,320,137 Ordinary Shares, being 6,736,955 Ordinary Shares held by Velosi Malaysia (representing 13.92 per cent. of Velosi's enlarged issued share capital), 2,235,030 Ordinary Share held by Mohd Ashari (representing 4.62 per cent. of Velosi's enlarged issued share capital), 1,618,677 Ordinary shares held by Axzar (representing 3.35 per cent. of Velosi's enlarged issued share capital) and 729,475 Ordinary Share held by Mohd Jai (representing 1.51 per cent. of Velosi's enlarged issued share capital), representing in aggregate approximately 23.40 per cent. of Velosi's enlarged issued share capital.  The Ordinary Shares held by Velosi Malaysia and Axzar are held for the benefit of Mohd Ashari and Mohd Jai.

In accordance with the Financial Services Authority's Disclosure and Transparency Rules, the total number of Ordinary Shares in issue following admission will be 48,384,548 with each Ordinary Share carrying the right to one vote.

The above 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 the Company, under the Disclosure and Transparency Rules.

Capitalised terms in this announcement have the same meaning as those in the announcement of 9 February 2010 unless the context requires otherwise.

For further information, please contact:

Velosi Limited	Dr Nabil Abdul Jalil Dan Ooi	020 7930 0777
Strand Hanson Limited	James Harris Richard Tulloch	020 7409 3494
Charles Stanley Securities	Mark Taylor	020 7149 6000
Cardew Group	Tim Robertson Catherine Maitland	020 7930 0777

 

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