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LONDON (Alliance News) - Investing company Vela Technologies PLC on Friday said it has increased its stake in technology firm BTL Group Ltd after subscribing for shares in BTL's private placement.
Vela subscribed for shares in BTL worth CAD25,000, taking its stake in the company to 4.7%.
BTL raised a total of CAD618,700 through the placing of 1.0 million equity units at CAD0.60 each. Each unit consists of one common share and one common share warrant, the latter which entitles the holder to acquire one common share for a period of 12 months from the warrant issue date at an exercise price of CAD1.00 each.
Shares in Vela were trading down 8.3% at 0.165 pence on Friday afternoon.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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