(Alliance News) - Vela Technologies PLC on Friday said it is considering buying a division of a listed, quoted or private company as part of its investment policy focused on early-stage tech companies.
"Assets might be utilised to effect one or more larger transactions," including buying a part of a company, Vela said. It is also considering a reverse takeover and substantial investment in a trading business.
The investment firm specifically mentions the appointment of Executive Director Antony Laiker in July, who is a significant shareholder and also served in the same role of the company from 2013 to 2020.
"The board believes that the combined value of Vela's listed investments and cash resources may prove attractive to third parties. In addition, in current market conditions, such a strategy may provide more certainty and potential uplift in the value for Vela shareholders going forward. In the meantime, Vela will continue to realise funds from the sale of existing investments, where appropriate," the Bradford, England-based company explained.
Vela shares surged 8.4% to 0.024 pence each in London on Friday morning.
By Tom Budszus; tombudszus@alliancenews.com
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Vela Technologies (VELA)