Last checked at 15 Apr 2016 07:00
15 April 2016
Vela Technologies plc
("Vela" or the "Company")
Completion of investment in Portr Limited
Further to the announcement of 8 March 2016 the Board of Vela (AIM: VELA), the investing company focused on early stage and pre-IPO disruptive technology investments, is pleased to announce that Vela has completed its investment of £151,343 in Portr Limited ("Portr"), the owner of the on-demand airport luggage transfer service, AirPortr. The funds were paid by Vela to Portr in early April 2016.
Vela has been informed by Portr that they have now successfully completed their fundraising exercise with existing shareholders to raise £3 million (the "Portr Fundraising").
Following completion of the investment Vela has an interest in 101,989 shares in Portr which represents 3.9% of Portr's issued share capital following completion of the Portr Fundraising. Vela's enlarged shareholding in Portr is valued at £1.079 million, based on the price of the Portr Fundraising. Following the investment of £151,343 in the Portr Fundraising, Vela has invested a total of £251,343 in cash in Portr over three funding rounds.
Further details on Portr and the background to the investment are contained in the announcement of 8 March 2016.
For further information please contact:
Vela Technologies plc | |||
Brent Fitzpatrick, Non-Executive Chairman Antony Laiker, Director
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Tel: +44 (0) 7802 262 443
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Allenby Capital Limited (Nominated Adviser) | |||
Nick Athanas/Katrina Perez/James Reeve
| Tel: +44 (0) 20 3328 5656 | ||
Smaller Company Capital Limited (Broker) Rupert Williams/Jeremy Woodgate
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Tel: +44 (0) 20 3651 2910
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