Placing to raise ?300,000

RNS Number : 3900L

Vela Technologies PLC

09 August 2013

 



VELA TECHNOLOGIES PLC

("Vela Technologies" or the "Company")

Placing to raise £300,000

Vela Technologies plc (AIM:VELA) announces that the Company has successfully placed 60,000,000 new ordinary shares of 0.005 pence (the "Placing Price") raising £300,000 before expenses, representing approximately 46.99% of the Company's enlarged issued share capital (the "Placing").

Application for admission of the 60,000,000 new shares to trading on the London Stock Exchange will be made shortly.  Subsequent to the placing, the total number of ordinary shares in issue is 127,679,308.

Following the successful recapitalisation of the company, the closing of the CVA and restructuring of the Company's balance sheet (including the recent Capital Reduction), the funds from the Placing will provide the company with the necessary capital to evaluate and apply funding to new investments either in the technology sector or to Company's active in the development and application of innovative technologies with existing or near-term revenue potential.

For further information, please contact:

Vela Technologies plc Brent Fitzpatrick Non-Executive Director	Email: [e-mail]
ZAI Corporate Finance Limited Nomad Peter Trevelyan-Clark / Wei Wang	Tel: [phone]
Peterhouse Corporate Finance Limited Broker Eran Zucker	Tel: [phone]

 

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