Vela Technologies PLC Directors' Dealings (6939C)

TIDMVELA

RNS Number : 6939C

Vela Technologies PLC

19 October 2015

Vela Technologies plc

("Vela" or the "Company")

Directors' dealings

The Board of Vela Technologies plc (AIM: VELA), the investing company focused on early-stage and pre-IPO disruptive technology investments, announces that the Directors of the Company, Antony Laiker and Brent Fitzpatrick, each acquired 2,900,000 ordinary shares of 0.1 pence per share in the Company ("Ordinary Shares") on 16 October 2015 at a price of 0.17 pence per Ordinary Share.

Following these purchases, Mr Laiker now has a beneficial interest in 28,316,724 Ordinary Shares, equivalent to 4.85% of the Company's issued share capital. Mr Fitzpatrick, whose shares were purchased by his wholly-owned company, Ocean Park Developments Limited, now has a beneficial interest in 4,400,000 Ordinary Shares, equivalent to 0.75% of the Company's issued share capital.

Antony Laiker, Executive Director, commented: "Since Vela published its corporate update in April we have updated investors on both new investments made and updates from certain of our portfolio companies. The board remains of the view that, based on a combination of valuation events in some of our unquoted companies together with the market value of our listed investments, the underlying value of the portfolio is significantly above the value attributable to Vela at the current time.

Vela has a spread of disruptive technology investments across what will hopefully be a total of nine companies should the current proposed investment in Blockchain Tech Ltd go ahead. Going forward we have high expectations for our investments as they progress and mature.

Brent and I therefore decided to make a further investment in Vela shares to support and highlight that the board are personally supporting their public statements."

For further information, please contact:

 
 Vela Technologies plc 
 Brent Fitzpatrick, Non-Executive 
  Chairman                            Tel: [phone] 
  Antony Laiker, Director 
 Allenby Capital Limited 
  (Nominated Adviser) 
 Nick Athanas/Katrina Perez/James   Tel: [phone] 
  Reeve 
 
  Vicarage Capital Limited 
  (Broker)                           Tel: [phone] 
  Rupert Williams/Jeremy Woodgate 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 19, 2015 07:15 ET (11:15 GMT)