Last checked at 12 Aug 2019 18:24
12 August 2019
Vela Technologies plc
("Vela" or the "Company")
Further re. Placing and Investment by Director
Further to the announcement made earlier today, the Board of Vela is pleased to announce that Antony Laiker, Executive Director of the Company, has subscribed for 25,000,000 ordinary shares in the Company (the "Antony Laiker Placing Shares") at a price of 0.10 pence per new ordinary shares (the "Placing Price").
Details of the participation by Antony Laiker in the Placing
Antony Laiker has subscribed for the 25,000,000 new Ordinary Shares on the same terms as subscribers who participated in the placing as announcement on 24 April 2019 (the "Placing"). The proceeds of the issue of the Antony Laiker Placing Shares will be applied towards certain of the proposals outlined in the Company's announcement on 24 April 2019.
As announced previously, conditional on the approval of shareholders at a General Meeting, subscribers in the Placing, including Antony Laiker, will be issued with 1 warrant for every 4 shares issued pursuant to the Placing, exercisable at 0.15 pence per placing warrant, for a period of up to 2 years from issue. Following the issue of new Ordinary Shares in May 2019 in relation to the Placing, Vela does not have sufficient allotment authority to enable the placing warrants to be exercised in full.
A circular containing a notice convening a general meeting of Vela will be posted to shareholders shortly with the purpose of, inter alia, putting in place the requisite share authorities to cover the placing warrants being exercised in full.
Further re. repayment of Loan Notes held by Antony Laiker
As announced on 24 April 2019, Vela entered into an agreement for the repayment of the £200,000 of loan notes (and accrued interest) held by Antony Laiker ("Antony Laiker Loan Note") in accordance with the terms of the loan note agreement. As announced, Antony Laiker intended to use the entire proceeds of the repayment of the Antony Laiker Loan Note to subscribe for new Ordinary Shares in the Company.
Accordingly, Antony Laiker has today conditionally subscribed for 240,985,301 new Ordinary Shares at a price of 0.10 pence per share (the "Antony Laiker Subscription Shares"). The issue and admission to trading on AIM of the Antony Laiker Subscription Shares is conditional on shareholder approval of the requisite authorities to allot shares at a general meeting of the Company, which will be convened in due course.
Details of Admission
Application will be made shortly for the admission of the Antony Laiker Placing Shares to trading on AIM ("Admission"). It is anticipated that Admission will occur on or around 19 August 2019. The issue of the 25,000,000 new Ordinary Shares has been undertaken under Vela's existing share allotment authorities. On Admission, Antony Laiker will hold 60,190,000 Ordinary Shares, equivalent to 4.07 of the issued share capital of Vela, as enlarged by the Antony Laiker Placing Shares.
The FCA notifications, made in accordance with the requirements of the EU Market Abuse Regulation, are appended below.
Total Voting Rights
On Admission of the 25,000,000 Antony Laiker Placing Shares, Vela's issued ordinary share capital will consist of 1,477,958,416 Ordinary Shares, with one voting right each. Vela does not hold any Ordinary Shares in treasury. Therefore, on Admission, the total number of Ordinary Shares and voting rights in Vela will be 1,477,958,416. With effect from Admission, this figure may be used by shareholders in Vela as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of Vela under the FCA's Disclosure Guidance and Transparency Rules.
For further information, please contact:
Vela Technologies plc | Tel: +44 (0) 7802 262 443 |
Brent Fitzpatrick, Non-Executive Chairman Antony Laiker, Director
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Allenby Capital Limited (Nominated Adviser) | Tel: +44 (0) 20 3328 5656 |
Nick Athanas/Asha Chotai
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Smaller Company Capital Limited (Joint Broker) | Tel: +44 (0) 20 3651 2910 |
Rupert Williams/Jeremy Woodgate |
About Vela Technologies
Vela Technologies (AIM: VELA) is an investing company focused on early stage and pre-IPO long term disruptive technology investments. There are currently 12 investments in the portfolio which either have developed ways of utilising technology or developing technology with a view to disrupting the businesses or sector in which they operate. More recently, Vela Technologies has also started to focus on existing listed companies where valuations may offer additional opportunities.
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||||
a) | Name | Antony Laiker | |||||
2. | Reason for the Notification | ||||||
a) | Position/status | Executive Director | |||||
b) | Initial notification/Amendment | Initial Notification | |||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||
a) | Name | Vela Technologies plc | |||||
b) | LEI | 213800SWFEORWAP84393 | |||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||
a) | Description of the Financial instrument, type of instrument | Ordinary shares of 0.1p each | |||||
Identification code | ISIN: GB00BYZ9XC29 | ||||||
b) | Nature of the transaction | Subscription of new ordinary shares | |||||
c) | Price(s) and volume(s) |
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d) | Aggregated information: ·;Aggregated volume ·;Price |
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e) | Date of the transaction | 12 August 2019 | |||||
f) | Place of the transaction | Outside a trading venue | |||||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||||
a) | Name | Antony Laiker | |||||
2. | Reason for the Notification | ||||||
a) | Position/status | Executive Director | |||||
b) | Initial notification/Amendment | Initial Notification | |||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||
a) | Name | Vela Technologies plc | |||||
b) | LEI | 213800SWFEORWAP84393 | |||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||
a) | Description of the Financial instrument, type of instrument | Warrants to subscribe for ordinary shares of 0.1p each | |||||
Identification code | ISIN: GB00BYZ9XC29 | ||||||
b) | Nature of the transaction | Issue of warrants to subscribe for ordinary shares | |||||
c) | Price(s) and volume(s) |
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d) | Aggregated information: ·;Aggregated volume ·;Price |
N/A | |||||
e) | Date of the transaction | 12 August 2019 | |||||
f) | Place of the transaction | Outside a trading venue | |||||