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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Asia Digital | LSE:ADH | London | Ordinary Share | GB00B7D7F340 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMVELA
RNS Number : 1917D
Vela Technologies PLC
23 October 2015
Vela Technologies plc
("Vela" or the "Company")
Grant of share options
Vela Technologies plc (AIM: VELA), the investing company focused on early-stage and pre-IPO disruptive technology investments, announces that on 22 October 2015, pursuant to the Company's unapproved option scheme, it was agreed to award a total of 6,400,000 options to subscribe for new ordinary shares of 0.1 pence each in the Company (the "Options") to the directors of the Company.
At the Company's general meeting held on 18 September 2015 (the "GM"), Vela obtained the required share authorities to issue and allot new ordinary shares under section 561 of the Companies Act 2006. It was specified within the notice of GM sent to shareholders that the allotment authority would be used, inter alia, for future option grants for Directors. As such, and since the resolutions were passed by shareholders at the GM, the Company has the authorities to proceed with granting the Options immediately (the "Grant"). The Options have been granted on the terms detailed below:
Name of Director Existing No. of Exercise Total number Options held options Options price of Options as % of existing held to be granted (pence) held following share capital the Grant Brent Fitzpatrick (Non-Executive 0.205 Chairman) 11,362,427 3,200,000 pence 14,562,427 2.49% ----------- --------------- --------- ---------------- ------------------ Antony Laiker 0.205 (Executive Director) 11,362,427 3,200,000 pence 14,562,427 2.49% ----------- --------------- --------- ---------------- ------------------
The Options will vest over a two year period as to one third on Grant and one third on each of the first and second anniversaries of the Grant date. The Options are not subject to any performance conditions and will lapse seven years from the date of grant. The exercise price of the Options of 0.205 pence, equivalent to the closing mid-market price of Vela's ordinary shares on 22 October 2015.
Following the Grant, the total number of options outstanding over ordinary shares will be 29,124,854, representing 4.99 per cent. of the Company's issued share capital.
The grant of Options to Antony Laiker and Brent Fitzpatrick are deemed to be related party transactions under the AIM Rules for Companies. There are no independent directors for the purposes of providing the statement required under Rule 13 for the AIM Rules for Companies. Allenby Capital Limited, the Company's nominated adviser, considers that the terms of the grant of the Options are fair and reasonable insofar as shareholders of the Company are concerned.
For further information please contact:
Vela Technologies plc Brent Fitzpatrick, Non-Executive Chairman Tel: +44 (0) 7802 262 443 Antony Laiker, Director Allenby Capital Limited (Nominated Adviser) Nick Athanas/Katrina Perez/James Tel: +44 (0) 20 3328 5656 Reeve Vicarage Capital Limited (Broker) Tel: +44 (0) 20 3651 2910 Rupert Williams/Jeremy Woodgate
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
October 23, 2015 02:00 ET (06:00 GMT)
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