News this week before AGM imo26 Oct 2020 21:55
20th Oct rns
Your company is now debt free, well capitalised with a portfolio of six investments (details of which can be found on the Company's website - www.velatechplc.com) and cash on deposit, at 30 September 2020, of ยฃ1,628,000. The cash at 30 September 2020 includes proceeds of ยฃ925,480 generated as a result of the exercise of warrants during September. The Company has post period end invested ยฃ250,000 in Mode Global Holdings plc, a UK-based fintech group, as announced on 5 October 2020.
The Board is currently considering a number of investment opportunities in line with its existing investing policy and certain of these potential new investments are at an advanced stage of due diligence, documentation and/or completion. The Board anticipates a lively second half of the financial year and announcements will be made by the Company at the appropriate time.