14 May 2015 09:50
14 May 2015
Vela Technologies plc
("Vela" or the "Company")
Update on investment in 3Legs Resources plc
The Board of Vela (AIM: VELA), the investing company focused on early stage and pre-IPO disruptive technology investments, announces that the Company acquired a further 4,500,000 existing ordinary shares in 3Legs Resources plc ("3Legs") (AIM: 3LEG) on 13 May 2015 at a price of 0.215 pence per share.
Vela's resultant holding in 3Legs is 23,500,000 shares, representing 5.42% of the total voting rights of 3Legs. Vela's shareholding in 3Legs has been acquired at an average price of 0.213 pence per share for a total consideration of approximately £50,090.
3Legs is an Isle of Man incorporated investing company whose shares are traded on AIM. In February 2015, 3Legs completed a corporate reorganisation which included the adoption of a new investing policy to invest in and/or acquire companies within the technology sector or within the resources sector, particularly where a resource can be brought into production through the application of modern technologies. As part of the above reorganisation, 3Legs raised £800,000 through a subscription for new ordinary shares at a price of 0.232 pence per share, which valued 3Legs at approximately £1 million with the funds to be used by 3Legs in connection with the implementation of the new investing policy.
For further information please contact:
Vela Technologies plc | |
Brent Fitzpatrick, Non-Executive Chairman Antony Laiker, Director
|
Tel: +44 (0) 7802 262 443
|
Allenby Capital Limited | |
Nick Athanas/Katrina Perez/James Reeve
| Tel: +44 (0) 20 3328 5656 |