14 Mar 2016 11:40
News release
Velocys plc
("Velocys" or "the Company")
14th March 2016
Vesting of Restricted Stock Unit Award
Velocys plc (VLS.L), the company at the forefront of smaller scale gas-to-liquids (GTL), announces that, application has been made for the admission of 1,330,000 Ordinary shares of £0.01p each ("Ordinary Shares") to trading on AIM. The shares were allotted to a former employee of the Company, following the vesting of a LTIP Restricted Stock Unit Award previously awarded under the Company's 2012 Share Option Scheme. The shares will rank pari passu with existing Ordinary Shares and it is expected that admission will occur at 8.00 am on 18 March 2016.
Total Voting Rights
Following the issue and Admission to trading on AIM of the 1,330,000 Ordinary Shares referred to above, the total issued share capital of the Company is 143,252,638 Ordinary Shares.
The Company does not currently hold any shares in treasury. Accordingly, this figure of 143,252,638 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 and Transparency Rules.
- Ends -
For further information, please contact:
Velocys David Pummell, CEO Susan Robertson, CFO
| +44 1235 841 700
|
Numis Securities (Nomad and Broker) Alex Ham - Corporate Broking Stuart Skinner / Jamie Lillywhite - Nominated Adviser
| +44 20 7260 1000 |
Camarco (financial communications & PR) Billy Clegg / Georgia Mann
| +44 20 3757 4983
|
Notes to editors
About Velocys
Velocys is the company at the forefront of smaller scale gas-to-liquids (GTL) that turns natural gas or biomass into premium products such as diesel, jet fuel, waxes and base oils. Smaller scale GTL adds value to shale gas and bio-waste, and makes stranded or flared gas economic - an untapped market of up to 25 million barrels per day.
Velocys technology, protected by several hundred patents in over 30 countries, is specifically designed for smaller scales, combining super-active catalysts with intensified reactor systems. The Company's standardised modular plants are easier to ship and faster to install, at lower risk, even in the most remote or challenging locations. Together with world-class partners, Velocys works flexibly to unlock gas resources of 15,000 to 150,000 mmbtu per day, allowing more companies to take advantage of more opportunities.
Velocys plc is listed on the AIM market of the London Stock Exchange (LSE: VLS). The Company is well capitalised and has a multi-disciplinary staff of around 100 operating from its commercial centre in Houston, Texas, USA and technical facilities near Oxford, UK and Columbus, Ohio, USA. Its commercial reference plant, which will be located adjacent to Waste Management's East Oak landfill site, is expected to reach mechanical completion in mid-year 2016.
www.velocys.com
Think Smaller™. Velocys is changing the way fuels are made.