Placing Shares

RNS Number : 0196T

Velosi Limited

29 May 2009

 



29 May 2009

Velosi Limited 

('Velosi' or the 'Company')

Issuance of Shares

Pursuant to the Share Sale Agreement dated 19 October 2007 in relation to the acquisition of K2 Specialist Services Pte Ltd ('K2') which was announced on 22 October 2007, the Company announces that it has issued 2,424,291 new ordinary shares of US$0.02 each ('Ordinary Shares') to Nicholas Robert Conway and David Griffin (the 'Vendors'), following the satisfaction of the entire profit guarantee of SGD4,000,000 (approximately £1.34 million) aggregate profit after tax and minority interests, set for the stipulated guarantee period.

Accordingly, application has been made for 2,424,291 new ordinary shares to be admitted to trading on AIM with effect from 5 June 2009.

For further information, please contact:

Velosi	020 7930 0777
Dr Nabil Abdul Jalil
Joe Vincent
Strand Partners	020 7409 3494
James Harris
Warren Pearce
Charles Stanley	020 7149 6000
Mark Taylor
Freddy Crossley
Cardew Group	020 7930 0777
Tim Robertson
Catherine Maitland

 

END

 

 

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