31 Jul 2019 12:36
News release Velocys plc ("Velocys" or the "Company") 31 July 2019 Result of general meeting and total voting rights Velocys plc (VLS.L), the renewable fuels technology company, is pleased to announce that, in connection with the £7 million fundraise announced by the Company on 15 July 2019 (the "Placing"), the resolutions put to shareholders at the General Meeting today were duly passed and all conditions applicable to the Placing have been met.
Application has been made for the 233,333,335 Placing Shares to be admitted to trading on AIM ("Admission"). It is expected that VCT/EIS Admission (97,166,666 Placing Shares) will occur on 1 August 2019 and General Admission (136,166,669 Placing Shares) will occur on 2 August 2019. Following Admission, the Company will have 643,756,100 shares in issue.
The Company does not currently hold any shares in treasury. Accordingly, the above figure of 643,756,100 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
- Ends - Notes to editors Velocys is a sustainable fuels company. Originally a spin-out from Oxford University, in 2008 the Company acquired a US company based on complementary technology developed at the Pacific Northwest National Laboratory. Over 15 years Velocys has developed proprietary Fischer-Tropsch technology that enables the production of drop-in transport fuels from a variety of waste materials. Having demonstrated its technology at commercial scale, the Company is currently developing projects in Natchez, Mississippi, USA and Immingham, UK to produce fuels that significantly reduce both greenhouse gas emissions and key exhaust pollutants for aviation and road transport. For further information, please contact:
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